# EDGAR Filing Document

**Accession Number:** 0001040765
**File Stem:** 0001104659-26-001779
**Filing Date:** 2026-1
**Character Count:** 5623
**Document Hash:** ce526b07f85cd3c494b0a0a8de8613e0
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-26-001779.hdr.sgml**: 20260107

**ACCESSION NUMBER**: 0001104659-26-001779

**CONFORMED SUBMISSION TYPE**: FWP

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20260107

**DATE AS OF CHANGE**: 20260107

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** VORNADO REALTY LP
- **CENTRAL INDEX KEY:** 0001040765
- **STANDARD INDUSTRIAL CLASSIFICATION:** REAL ESTATE INVESTMENT TRUSTS [6798]
- **ORGANIZATION NAME:** 05 Real Estate & Construction
- **EIN:** 133925979
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** FWP
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 333-278428-01
- **FILM NUMBER:** 26515924

**BUSINESS ADDRESS:**
- **STREET 1:** 210 ROUTE 4 EAST
- **CITY:** PARAMUS
- **STATE:** NJ
- **ZIP:** 07652
- **BUSINESS PHONE:** 212-894-7000

**MAIL ADDRESS:**
- **STREET 1:** 888 SEVENTH AVE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10019
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** VORNADO REALTY LP
- **CENTRAL INDEX KEY:** 0001040765
- **STANDARD INDUSTRIAL CLASSIFICATION:** REAL ESTATE INVESTMENT TRUSTS [6798]
- **ORGANIZATION NAME:** 05 Real Estate & Construction
- **EIN:** 133925979
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

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

**BUSINESS ADDRESS:**
- **STREET 1:** 210 ROUTE 4 EAST
- **CITY:** PARAMUS
- **STATE:** NJ
- **ZIP:** 07652
- **BUSINESS PHONE:** 212-894-7000

**MAIL ADDRESS:**
- **STREET 1:** 888 SEVENTH AVE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10019

**Filed pursuant to Rule 433<br> Issuer Free Writing Prospectus dated January 7, 2026<br> Relating to Preliminary Prospectus Supplement dated January 7, 2026<br> To Prospectus dated April 1, 2024<br> Shelf Registration Statement No. 333-278428-01**

<u>Pricing Term Sheet</u>

**Vornado Realty L.P.<br> $500,000,000 5.750% Notes due 2033**

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| | |
|:---|:---|
| Issuer: | Vornado Realty L.P. |
| Securities Offered: | 5.750% Notes due February 1, 2033 (the "Notes") |
| Expected Security Ratings\* (Moody's/Standard & Poor's/Fitch): | Ba1 / BBB- / BB+ |
| Principal Amount: | $500,000,000 aggregate principal amount |
| Maturity Date: | February 1, 2033 |
| Trade Date: | January 7, 2026 |
| Settlement Date\*\*: | January 14, 2026 (T + 5) |
| Interest Payment Dates: | February 1 and August 1, commencing August 1, 2026 |
| Coupon: | 5.750% per annum |
| Benchmark Treasury: | U.S. Treasury 3.875% due December 31, 2032 |
| Benchmark Treasury Price: | 99-26¼ |
| Benchmark Treasury Yield: | 3.905% |
| Spread to Benchmark Treasury: | + 187.5 bps |
| Yield to Maturity: | 5.780% |
| Public Offering Price: | 99.824% per note |
| Net Proceeds: | $495,370,000 (after deducting the underwriting discount and before expenses associated with the transaction) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Optional Redemption:<br> Make-whole Call:<br> Par-Call: | <br> Make-whole call at T + 30 basis points<br> On or after December 1, 2032 (2 months prior to the maturity date) |

---

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| | |
|:---|:---|
| CUSIP/ISIN: | 929043 AN7 / US929043AN77 |
| Joint Book-Running Managers: | BofA Securities, Inc.<br> PNC Capital Markets LLC<br> U.S. Bancorp Investments, Inc.<br> Wells Fargo Securities, LLC<br> BMO Capital Markets Corp.<br> J.P. Morgan Securities LLC<br> BNY Mellon Capital Markets, LLC<br> Citigroup Global Markets Inc.<br> Citizens JMP Securities, LLC<br> Deutsche Bank Securities Inc.<br> Goldman Sachs & Co. LLC<br> M&T Securities, Inc.<br> Mizuho Securities USA LLC<br> Morgan Stanley & Co. LLC |
| Co-Managers: | Cabrera Capital Markets LLC<br> ING Financial Markets LLC<br> Loop Capital Markets LLC<br> Standard Chartered Bank<br> Academy Securities, Inc. |

---

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

\*\* Under Rule 15c6-1 of the Securities Exchange Act of 1934, as amended, trades in the secondary market are required to settle in one business day, unless the parties to any such trade expressly agree otherwise. Accordingly, purchasers who wish to trade the Notes prior to the business day before the date of delivery will be required, by virtue of the fact that the Notes will initially settle T + 5, to specify an alternative settlement arrangement at the time of any such trade to prevent a failed settlement. Purchasers of the Notes who wish to trade the Notes prior to the business day before the date of delivery should consult their own advisors.

Vornado Realty L.P. has filed a registration statement (including a prospectus) with the Securities and Exchange Commission for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and the other documents Vornado Realty L.P. has filed with the SEC for more complete information about Vornado Realty L.P. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, you can request the prospectus by calling BofA Securities, Inc. toll-free at 1-800-294-1322, PNC Capital Markets LLC toll-free at 1-855-881-0697, U.S. Bancorp Investments, Inc. toll-free at 1-877-558-2607 and 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 ANOTHER ELECTRONIC MAIL SYSTEM.