Filed pursuant to Rule 433
Dated July 12, 2007
Registration No. 333-125561
LIMITED BRANDS, INC.
FINAL TERM SHEET
6.90% Notes due 2017
7.60% Notes due 2037
6.90% Notes Due 2017
| Issuer: |
Limited Brands, Inc . | |
| Security: |
6.90% Senior Notes due 2017 | |
| Size: |
$700,000,000 | |
| Maturity Date: |
July 15, 2017 | |
| Coupon (Interest Rate): |
6.90% | |
| Interest Payment Dates: |
July 15 and January 15, commencing on January 15, 2008 | |
| Price to Public: |
99.773% | |
| Benchmark Treasury: |
4.50% due May 15, 2017 | |
| Benchmark Treasury Yield: |
5.132% | |
| Spread to Benchmark Treasury: |
+180 basis points | |
| Yield to Maturity: |
6.932% | |
| Redemption Provision (Make-Whole Call): |
At any time at a discount rate of Treasury plus 30 basis points | |
| Settlement Date: |
July 17, 2007 | |
| Change of Control: |
Upon the occurrence of a Change of Control Triggering Event, Limited Brands will be required to make an offer to purchase the notes at a price equal to 101% of their principal amount plus accrued and unpaid interest to the date of repurchase. | |
| Minimum Denomination: |
$2,000 and integral multiples of $1,000 in excess thereof | |
| CUSIP: |
532716 AM9 | |
| Ratings: |
Baa3 by Moody’s Investors Service, Inc. and BBB- by Standard & Poor’s Ratings Services | |
| Joint Book-Running Managers: |
Banc of America Securities LLC J.P. Morgan Securities Inc. | |
7.60% Notes Due 2037
| Issuer: | Limited Brands, Inc. | |
| Security: | 7.60% Senior Notes due 2037 | |
| Size: | $300,000,000 | |
| Maturity Date: | July 15, 2037 | |
| Coupon (Interest Rate): | 7.60% | |
| Interest Payment Dates: | July 15 and January 15, commencing on January 15, 2008 | |
| Price to Public: | 99.579% | |
| Benchmark Treasury: | 4.50% due February 15, 2036 | |
| Benchmark Treasury Yield: | 5.236% | |
| Spread to Benchmark Treasury: | +240 basis points | |
| Yield to Maturity: | 7.636% | |
| Redemption Provision | ||
| (Make-Whole Call): | At any time at a discount rate of Treasury plus 35 basis points | |
| Settlement Date: | July 17, 2007 | |
| Change of Control: | Upon the occurrence of a Change of Control Triggering Event, Limited Brands will be required to make an offer to purchase the notes at a price equal to 101% of their principal amount plus accrued and unpaid interest to the date of repurchase. | |
| Minimum Denomination: | $2,000 and integral multiples of $1,000 in excess thereof | |
| CUSIP: | 532716 AN7 | |
| Ratings: | Baa3 by Moody’s Investors Service, Inc. and BBB- by Standard & Poor’s Ratings Services | |
| Joint Book-Running Managers: | Banc of America Securities LLC | |
| J.P. Morgan Securities Inc. | ||
The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling Banc of America Securities LLC toll-free at 1-800-294-1322 or e-mailing a request to dg.prospectus_distribution@bofasecurities.com or by calling J.P. Morgan Securities Inc. collect at 212-834-4533.