Company: PSA-PH
Filing Date: 2025-06-30
Form Type: 8-K
Source: 0001193125-25-152693
Chunk: 1

Company: Public Storage
Filing Date: 2025-06-30
Form: 8-K
Item: Item 1.01
Chunk 1
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 in the Indenture. If the 2030 Notes or the 2035 Notes are redeemed on or after June 1, 2030 (one month prior to the applicable maturity date) or on or after April 1, 2035 (three months prior to the applicable maturity date), respectively, the redemption price will be equal to 100% of the principal amount of the notes being redeemed plus accrued and unpaid interest thereon to, but not including, the redemption date.

The Indenture contains certain covenants that, among other things, limit the ability of PSOC, subject to exceptions, to incur secured and unsecured indebtedness and to consummate a merger, consolidation or sale of all or substantially all of its assets. In addition, the Indenture requires PSOC to maintain total unencumbered assets of at least 125% of total unsecured indebtedness. These covenants are subject to a number of important exceptions and qualifications. The Indenture also provides for customary events of default which, if any of them occurs, would permit or require the principal of and accrued interest on the Notes to become or to be declared due and payable.

The foregoing description is a summary of the terms of the Indenture and the Notes and does not purport to be a complete statement of the parties’ rights and obligations thereunder. The foregoing description is qualified in its entirety by reference to the full text of the Base Indenture, the Nineteenth Supplemental Indenture and the Twentieth Supplemental Indenture, as applicable (including the forms of Notes), copies of which are attached as Exhibits 4.1, 4.2, 4.3, 4.4 and 4.5 to this Current Report on Form 8-K andincorporated by reference herein.

The offering of the Notes was made pursuant to a shelf registration statement on FormS-3(File Nos. 333-283556and333-283556-01)filed by the Company and PSOC with the Securities and Exchange Commission (the “ SEC”) on December 2, 2024. A prospectus supplement, dated June 26, 2025, relating to the Notes and supplementing the prospectus was filed with the SEC pursuant to Rule 424(b)(5) under the Securities Act of 1933, as amended.