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Public Storage 4.125% Cumulative Preferred Shares, Series M

Ticker: PSA-M

Parent Ticker: PSA

OTC Grey Market Temporary Ticker: PSAAL

Issuance Date: 08/11/2020

1st Call Date: 08/14/2025

Maturity Date: None

Shares Issued: 8,000,000

Overallotment Shares: 1,200,000

Coupon: 4.125%

Face Value: $25.00

Cumulative: Yes

Qualified: No

Quarterly Dividend Amount: 0.257

Payment Months: MAR, JUN, SEP, DEC

Payment Day: Last Day

S&P Rating: BBB+

III Rating (In Regards to Dividend Safety Only): A

Moody Rating: A3

Fitch Rating: NR

Egan-Jones Rating: NR