# EDGAR Filing Document

**Accession Number:** 0001209636
**File Stem:** 0001628280-25-029695
**Filing Date:** 2025-6
**Character Count:** 6376
**Document Hash:** a6eb91f707cb2739de6eef8287a215a4
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001628280-25-029695.hdr.sgml**: 20250605

**ACCESSION NUMBER**: 0001628280-25-029695

**CONFORMED SUBMISSION TYPE**: FWP

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20250605

**DATE AS OF CHANGE**: 20250605

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Toll Brothers, Inc.
- **CENTRAL INDEX KEY:** 0000794170
- **STANDARD INDUSTRIAL CLASSIFICATION:** OPERATIVE BUILDERS [1531]
- **ORGANIZATION NAME:** 05 Real Estate & Construction
- **EIN:** 232416878
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** FWP
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 333-277928
- **FILM NUMBER:** 251027713

**BUSINESS ADDRESS:**
- **STREET 1:** 1140 VIRGINIA DRIVE
- **CITY:** FORT WASHINGTON
- **STATE:** PA
- **ZIP:** 19034
- **BUSINESS PHONE:** 2159388000

**MAIL ADDRESS:**
- **STREET 1:** 1140 VIRGINIA DRIVE
- **CITY:** FORT WASHINGTON
- **STATE:** PA
- **ZIP:** 19034

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** TOLL BROTHERS INC
- **DATE OF NAME CHANGE:** 19920703
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** TOLL BROTHERS FINANCE CORP
- **CENTRAL INDEX KEY:** 0001209636
- **STANDARD INDUSTRIAL CLASSIFICATION:** OPERATIVE BUILDERS [1531]
- **ORGANIZATION NAME:** 05 Real Estate & Construction
- **EIN:** 233097271
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** FWP

**BUSINESS ADDRESS:**
- **STREET 1:** 1140 VIRGINIA DRIVE
- **CITY:** FORT WASHINGTON
- **STATE:** PA
- **ZIP:** 19034
- **BUSINESS PHONE:** 215-938-8000

**MAIL ADDRESS:**
- **STREET 1:** 1140 VIRGINIA DRIVE
- **CITY:** FORT WASHINGTON
- **STATE:** PA
- **ZIP:** 19034

**Issuer Free Writing Prospectus, dated June 5, 2025** 

**Filed pursuant to Rule 433 under the Securities Act of 1933**

**Supplementing the Preliminary Prospectus Supplement, dated June 5, 2025**

**Registration Statement No. 333-277928**

**Toll Brothers Finance Corp.**

**$500,000,000 5.600% Senior Notes due 2035**

**Guaranteed on a Senior Basis by**

**Toll Brothers, Inc.**

**and Certain of its Subsidiaries**

**Pricing Term Sheet**

*This pricing term sheet to the Preliminary Prospectus Supplement dated June 5, 2025 (the "Preliminary Prospectus Supplement") related to the offering of the notes described above should be read together with the Preliminary Prospectus Supplement, and the information incorporated by reference therein, before making an investment decision with regard to the notes. The information in this pricing term sheet supersedes the information in the Preliminary Prospectus Supplement to the extent that it is inconsistent therewith. Capitalized terms used but not defined in this pricing term sheet shall have the meaning ascribed to them in the Preliminary Prospectus Supplement.*

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| | |
|:---|:---|
| Issuer: | Toll Brothers Finance Corp. |
| Security: | 5.600% Senior Notes due 2035 |
| Principal Amount: | $500000000 |
| Net Proceeds to Issuer Before Expenses: | $494930000 |
| Maturity Date: | June 15, 2035 |
| Coupon: | 5.600% |
| Public Offering Price: | 99.636% of the principal amount, plus accrued interest, if any, from June 10, 2025 |
| Yield to Maturity: | 5.648% |
| Benchmark Treasury: | UST 4.250% due May 15, 2035 |
| Benchmark Treasury Price: | 98-26 |
| Benchmark Treasury Yield: | 4.398% |
| Spread to Benchmark Treasury: | T+125 basis points |
| Optional Redemption: | Make-whole call at T+20 bps prior to March 15, 2035 (or, if greater, at 100% of the principal amount being redeemed), plus accrued and unpaid interest. On or after March 15, 2035, redeemable at 100% of the principal amount of the notes to be redeemed, plus accrued and unpaid interest to the redemption date. |
| Interest Payment Dates: | June 15 and December 15, commencing December 15, 2025 |
| Record Dates: | June 1 and December 1 |
| Trade Date:  | June 5, 2025 |
| Settlement:  | T+3; June 10, 2025 |

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| | |
|:---|:---|
| Expected Ratings\*: | Baa2 (stable) (Moody's)<br>BBB (stable) (S&P)<br>BBB (positive) (Fitch) |
| CUSIP: | 88947E AX8 |
| ISIN:  | US88947EAX85 |
| Joint Book-Running Managers: | BofA Securities, Inc.<br>BBVA Securities Inc.<br>BMO Capital Markets Corp. <br>Goldman Sachs & Co. LLC<br>Mizuho Securities USA LLC<br>PNC Capital Markets LLC<br>Truist Securities, Inc.<br>U.S. Bancorp Investments, Inc.<br>Wells Fargo Securities, LLC |
| Lead Managers: | Citizens JPM Securities, LLC<br>Regions Securities LLC |
| Co-Managers: | BNY Mellon Capital Markets, LLC<br>Capital One Securities, Inc.<br>Fifth Third Securities, Inc.<br>CIBC World Markets Corp.<br>Comerica Securities, Inc.<br>TD Securities (USA) LLC<br>TCBI Securities, Inc.<br>Zions Direct, Inc. |

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\*Note: A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time.

**The issuer has filed a registration statement (including a prospectus and a prospectus supplement) with the SEC for the offering to which this communication relates. Before you invest, you should read the Preliminary Prospectus Supplement and other documents the issuer has filed with the SEC that are incorporated by reference in the Preliminary Prospectus Supplement for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the Preliminary Prospectus Supplement if you request it by calling BofA Securities, Inc. toll free at 1-800-294-1322, BBVA Securities Inc. toll free at 1-800-422-8692, BMO Capital Markets Corp. toll free at 1-888-200-0266, Goldman Sachs & Co. LLC toll free at 1-866-471-2526, Mizuho Securities USA LLC toll free at 1-866-271-7403, PNC Capital Markets LLC toll free at 1-855-881-0697, Truist Securities, Inc. toll free at 1-800-685-4786, U.S. Bancorp Investments, Inc. toll free at 1-877-558-2607 or Wells Fargo Securities, LLC toll free at 1-800-645-3751.**

Any disclaimers or other notices that may appear below are not applicable to this communication and should be disregarded. Such disclaimers or other notices were automatically generated as a result of this communication being sent via Bloomberg or other email system.