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Public Storage, Var Rate Dep Shares Equity Stock, Series A
Ticker Symbol: PSA.A**     CUSIP: 74460D729     Exchange: NYSE
Security Type:   Traditional Preferred Stock
* NOTE: This security is no longer trading as of 4/15/2010

Security has been Called for:  Thursday, April 15, 2010

February 26, 2010 -- Public Storage announced today that it is calling for redemption all outstanding depositary shares representing interests in its Equity Shares, Series A (NYSE:PSA.A) on April 15, 2010 at $24.50 per share. The aggregate redemption amount to be paid to all holders of the depositary shares is approximately $205 million. On February 25, 2010, the reported closing price per depositary share of the Equity Shares, Series A was $25.40.

QUANTUMONLINE.COM SECURITY DESCRIPTION:  Public Storage, Inc., Depositary Shares, each representing 1/1000 of a share of Equity Stock, Series A, liquidation preference is the same amount payable per common share but can not exceed $24.50 per share, redeemable at the issuer's option on or after 3/31/2010 (changed from 3/31/2005 at the 5/10/2001 annual meeting) at $24.50 per share plus accrued and unpaid dividends, with no stated maturity, and with variable distributions paid quarterly on 3/31, 6/30, 9/30 & 12/31 to holders of record on the date fixed by the board, not more than 45 days or less than 15 days prior to the payment date. Dividends will be paid at the rate of five times the dividends paid on the common stock per depositary share with a maximum of $2.45 per annum. Dividends paid by preferreds issued by REITs are NOT eligible for the 15% tax rate on dividends and are also NOT eligible for the dividend received deduction for corporate holders. In regard to the payment of dividends and upon liquidation, the equity stock rank junior to the preferred stocks and on a parity to the common shares of the company. See the IPO prospectus for further information on the preferred stock by clicking on the ‘Link to IPO Prospectus’ provided below.
Stock
Exchange
Cpn Rate
Ann Amt
LiqPref
CallPrice
Call Date
Matur Date
Moodys/S&P
Dated
Distribution Dates 15%
Tax Rate
NYSE
Chart
Var Rate
n.a.
$24.45
$24.50
Called for
4/15/2010

None
Baa1 BBB
9/24/2009
3/31, 6/30, 9/30 & 12/31
Click for MW ExDiv Date
Click for Yahoo ExDiv Date
No

Goto Parent Company's Record (PSA)

IPO - 4/6/2001 - 2.10 Million Shares @ $24.45/share.    Link to IPO Prospectus
Market Value $246.0 Million

Company's Online Information Links
HOME PAGE:     http://www.publicstorage.com/
Company's Investor Relations Information Goto Investor Relations Information
Company's Online News Releases Goto News Releases
Online Company Profile Goto Online Profile

Company's Online SEC EDGAR Filings
Company's SEC EDGAR Filings Goto SEC Filings

Company's Email Address Links
Email Address investor@publicstorage.com
Email Request Form on Website Goto Email Form

Address and Phone Numbers
Address:   701 Western Avenue, Glendale, CA 91201
Main Phone Number 818-244-8080
Fax Number 818-553-2388
Investor Contact   Ryan Burke 818-244-8080   Ext: 1141
Toll Free Phone Number 800-447-8673
CEO - Ronald L. Havner, Jr. CFO - E. John Reyes

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