# EDGAR Filing Document

**Accession Number:** 0001423689
**File Stem:** 0001423689-25-000081
**Filing Date:** 2025-9
**Character Count:** 10873
**Document Hash:** 00028e13da78a85581644660b5520ff2
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001423689-25-000081.hdr.sgml**: 20250903

**ACCESSION NUMBER**: 0001423689-25-000081

**CONFORMED SUBMISSION TYPE**: FWP

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20250903

**DATE AS OF CHANGE**: 20250903

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** AGNC Investment Corp.
- **CENTRAL INDEX KEY:** 0001423689
- **STANDARD INDUSTRIAL CLASSIFICATION:** REAL ESTATE INVESTMENT TRUSTS [6798]
- **ORGANIZATION NAME:** 05 Real Estate & Construction
- **EIN:** 261701984
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** FWP
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 333-279249
- **FILM NUMBER:** 251290276

**BUSINESS ADDRESS:**
- **STREET 1:** 7373 WISCONSIN AVENUE, 22ND FLOOR
- **CITY:** BETHESDA
- **STATE:** MD
- **ZIP:** 20814
- **BUSINESS PHONE:** 301 968 9300

**MAIL ADDRESS:**
- **STREET 1:** 7373 WISCONSIN AVENUE, 22ND FLOOR
- **CITY:** BETHESDA
- **STATE:** MD
- **ZIP:** 20814

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** American Capital Agency Corp
- **DATE OF NAME CHANGE:** 20080111
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** AGNC Investment Corp.
- **CENTRAL INDEX KEY:** 0001423689
- **STANDARD INDUSTRIAL CLASSIFICATION:** REAL ESTATE INVESTMENT TRUSTS [6798]
- **ORGANIZATION NAME:** 05 Real Estate & Construction
- **EIN:** 261701984
- **FISCAL YEAR END:** 1231

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

**BUSINESS ADDRESS:**
- **STREET 1:** 7373 WISCONSIN AVENUE, 22ND FLOOR
- **CITY:** BETHESDA
- **STATE:** MD
- **ZIP:** 20814
- **BUSINESS PHONE:** 301 968 9300

**MAIL ADDRESS:**
- **STREET 1:** 7373 WISCONSIN AVENUE, 22ND FLOOR
- **CITY:** BETHESDA
- **STATE:** MD
- **ZIP:** 20814

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** American Capital Agency Corp
- **DATE OF NAME CHANGE:** 20080111

Filed Pursuant to Rule 433 of the Securities Act of 1933

Issuer Free Writing Prospectus, dated September 3, 2025

Relating to Preliminary Prospectus Supplement, dated September 3, 2025

Registration No. 333-279249

**AGNC INVESTMENT CORP.**

**12,000,000 Depositary Shares**

**Each Representing 1/1,000**<sup>th</sup> **of a Share of**

**8.75% Series H Fixed-Rate Cumulative Redeemable Preferred Stock**

**(Liquidation Preference Equivalent to $25.00 Per Depositary Share)**

**Final Term Sheet**

**September 3, 2025**

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|:---|:---|
| **Issuer:** | AGNC Investment Corp. |
| **Description of Securities Offered:** | Depositary shares, each representing a 1/1,000th fractional interest in a share of 8.75% Series H Fixed-Rate Cumulative Redeemable Preferred Stock of the Company (the "Series H Preferred Stock"). |
| **Number of Securities Offered:** | 12,000,000 depositary shares |
| **Overallotment Option:** | 1,800,000 depositary shares |
| **Trade Date:** | September 3, 2025 |
| **Settlement and Delivery Date:** | September 10, 2025 (T + 5) |
| **Public Offering Price:** | $25.00 per depositary share; $300,000,000 in aggregate (assuming no exercise of the underwriters overallotment option). |
| **Underwriting Discount:** | $0.7875 per depositary share; $9,450,000 total (assuming no exercise of the underwriters overallotment option). |
| **Net Proceeds to the Issuer, Before Expenses:** | $24.2125 per depositary share; $290,550,000 total (assuming no exercise of the underwriters overallotment option). |
| **Maturity:** | Perpetual (unless redeemed by the Issuer on or after October 15, 2030, pursuant to the optional redemption right described below, or redeemed by the Issuer at any time pursuant to the special optional redemption right described below, or converted by an investor in connection with a Change of Control as described below or redeemed by the Issuer pursuant to its amended and restated certificate of incorporation to preserve its qualification as a real estate investment trust, or REIT). |

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|:---|:---|
| **Dividend Rate:** | Holders of Series H Preferred Stock will be entitled to receive cumulative cash dividends from and including the original issue date at a fixed rate equal to 8.75% per annum of the $25,000 liquidation preference per share of Series H Preferred Stock (equivalent to $2,187.50 per annum per share of Series H Preferred Stock and $2.1875 per annum per depositary share). |
| **Dividend Payment Date:** | Quarterly cumulative dividends, in arrears, on or about the 15th day of each January, April, July and October of each year (provided that if any dividend payment date is not a business day, then the dividend which would otherwise have been payable on that dividend payment date may be paid on the next succeeding business day). Dividends will accumulate and be cumulative from, and including, the date of original issuance, which is expected to be September 10, 2025. The first dividend, payable on January 15, 2026 in the amount of $759.55 per share of Series H Preferred Stock (or $0.75955 per depositary share), will be paid to the persons who are the holders of record of the Series H Preferred Stock at the close of business on the dividend record date, which will be January 1, 2026. |
| **Liquidation Preference:** | $25.00 per depositary share; $300,000,000 in aggregate (assuming no exercise of the underwriters overallotment option), plus any accumulated and unpaid dividends to, but not including, the date of payment, before any payment is made to the holders of the Issuer's common stock. |
| **Optional Redemption Date:** | October 15, 2030, except under circumstances intended to preserve the Issuer's qualification as a REIT, for federal income tax purposes and except as described below under "Special Optional Redemption." On and after October 15, 2030, the Issuer may, at its option, redeem any or all of the shares of the Series H Preferred Stock underlying the depositary shares (and the depositary will redeem the number of depositary shares representing interests in the Series H Preferred Stock redeemed) at $25,000 per share of the Series H Preferred Stock (equivalent to $25.00 per depositary share), plus any accumulated and unpaid dividends to, but not including, the redemption date. |
| **Special Optional Redemption:** | Upon the occurrence of a Change of Control, the Issuer may, at its option, redeem any or all of the shares of Series H Preferred Stock (and the depositary shares) within 120 days after the first date on which such Change of Control occurred at a cash redemption price of $25.00 per depositary share plus any accumulated and unpaid dividends to, but not including, the redemption date. If, prior to the Change of Control Conversion Date (as defined below), the Issuer has provided notice of its election to redeem some or all of the Series H Preferred Stock (and the depositary shares) (whether pursuant to its optional redemption right or this special optional redemption right), the holders of depositary shares representing interests in the Series H Preferred Stock will not have the conversion right described below under "Conversion Rights" with respect to the shares of Series H Preferred Stock called for redemption. |

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|:---|:---|
| **Change of Control:** | Deemed to occur when, after the original issuance of the Series H Preferred Stock, the following have occurred and are continuing: (i) the acquisition by any person, including any syndicate or group deemed to be a "person" under Section 13(d)(3) of the Securities Exchange Act of 1934, as amended, or the Exchange Act, of beneficial ownership, directly or indirectly, through a purchase, merger or other acquisition transaction or series of purchases, mergers or other acquisition transactions of the Issuer's stock entitling that person to exercise more than 50% of the total voting power of all the Issuer's stock entitled to vote generally in the election of the Issuer's directors (except that such person will be deemed to have beneficial ownership of all securities that such person has the right to acquire, whether such right is currently exercisable or is exercisable only upon the occurrence of a subsequent condition); and (ii) following the closing of any transaction referred to in clause (i) above, neither the Issuer nor the acquiring or surviving entity has a class of common securities (or American Depositary Receipts representing such securities) listed on the New York Stock Exchange (the "NYSE"), the NYSE American, LLC (the "NYSE American") or The Nasdaq Global Select Market ("Nasdaq"), or listed or quoted on an exchange or quotation system that is a successor to the NYSE, the NYSE American or Nasdaq. |
| **Conversion Rights:** | <u>Share Cap</u>: 5.12295 per depositary share<br><u>Exchange Cap</u>: Subject to certain adjustments, the Exchange Cap will not exceed 61,475,400 shares of the Issuer's common stock (or equivalent Alternative Conversion Consideration, as applicable) issuable or deliverable, as applicable, subject to proportionate increase to the extent the underwriters exercise their overallotment option, not to exceed 70,696,710 shares of the Issuer's common stock in total (or equivalent Alternative Conversion Consideration, as applicable). |
| **Proposed Nasdaq Global Select Market Listing Symbol:** | AGNCZ |
| **CUSIP:** | 00123Q 831 |
| **ISIN:** | US00123Q8318 |
| **Joint Book-Running Managers:** | Morgan Stanley & Co. LLC<br>Goldman Sachs & Co. LLC<br>J.P. Morgan Securities LLC<br>RBC Capital Markets, LLC<br>UBS Securities LLC<br>Wells Fargo Securities, LLC<br>Citigroup Global Markets Inc.<br>Keefe, Bruyette & Woods, Inc. |
| **Co-Manager:** | Barclays Capital Inc. |

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**The issuer has filed a registration statement (including a base prospectus dated May 9, 2024) and a preliminary prospectus supplement, dated September 3, 2025 with the Securities and Exchange Commission, or the SEC, for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and the preliminary prospectus supplement 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's website at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus and related preliminary prospectus supplement if you request them from Morgan Stanley & Co. LLC by calling (866) 718-1649, Goldman Sachs & Co. LLC by calling (866) 471-2526, J.P. Morgan Securities LLC by calling (212) 834-4533, RBC Capital Markets, LLC by calling (866) 375-6829, UBS Securities LLC by calling (833) 481-0269, Wells Fargo Securities, LLC by calling (800) 645-3751, Citigroup Global Markets Inc. by calling (800) 831-9146 or Keefe, Bruyette & Woods, Inc. by calling (800) 966-1559.**

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