Issuer Free Writing Prospectus
Filed Pursuant to Rule 433
Registration No. 333-187385
Anworth Mortgage Asset Corporation
7.625% Series C Cumulative Redeemable Preferred Stock
(Liquidation Preference $25.00 per Share)
Final Term Sheet
January 20, 2015
| Issuer |
Anworth Mortgage Asset Corporation | |
| Security |
7.625% Series C Cumulative Redeemable Preferred Stock | |
| Shares offered |
300,000 | |
| Over-allotment option |
45,000 | |
| Type of security |
SEC Registered—Registration Statement No. 333-187385 Preliminary Prospectus Supplement, subject to completion, dated January 15, 2015 | |
| Trade date |
January 20, 2015 | |
| Settlement and delivery date |
January 27, 2015 (T + 5) | |
| Public offering price |
$24.50 per share; $7,350,000.00 total (assuming the over-allotment option is not exercised), or $8,452,500.00 total (assuming the over-allotment option is exercised in full) | |
| Underwriting discounts and commissions |
$0.77175 per share; $231,525.00 total (assuming the over-allotment option is not exercised), or $266,253.75 total (assuming the over-allotment option is exercised in full) | |
| Net proceeds to the Issuer, before expenses |
$23.72825 per share; $7,118,475.00 total (assuming the over-allotment option is not exercised), or $8,186,246.25 total (assuming the over-allotment option is exercised in full) | |
| Maturity |
Perpetual (unless redeemed by the Issuer on or after January 27, 2020, pursuant to the optional redemption right, or redeemed by the Issuer at any time pursuant to the special optional redemption right, or converted by an investor in connection with a Change of Control). | |
| Dividends |
Cumulative cash dividends from January 27, 2015 at a rate of 7.625% per year of the $25.00 liquidation preference (equivalent to $1.90625 per share per year). Dividends are payable quarterly in arrears on the 15th day of January, April, July and October of each year, or if such day is not a business day, the next succeeding business day, beginning on April 15, 2015. | |
| Liquidation preference |
$25.00 per share | |
| Optional Redemption |
Not redeemable prior to January 27, 2020, except as otherwise described in the Issuer’s preliminary prospectus supplement relating to the offering of the Series C Preferred Stock under the caption “Description of Series C Preferred Stock—Special Optional Redemption.” On or after January 27, 2020, the Issuer may, at its option, redeem the Series C Preferred Stock, in whole or in part, at any time or from time to time, for cash at a redemption price of $25.00 per share, plus any accrued and unpaid dividends to, but not including, the date fixed for redemption, as described in the Issuer’s preliminary prospectus supplement relating to the offering of the Series C Preferred Stock under the caption “Description of Series C Preferred Stock—Redemption—Optional Redemption.” | |
| Share Cap |
9.4518 | |
| CUSIP |
037347 408 | |
| ISIN |
US0373474081 | |
| Joint Book-Running Managers |
MLV & Co. LLC JMP Securities LLC | |
| Co-Managers |
Ladenburg Thalmann & Co. Inc. Maxim Group LLC Aegis Capital Corp. | |
The Issuer has filed a registration statement (including a base prospectus dated April 8, 2013) and a preliminary prospectus supplement, dated January 15, 2015, with 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, you can request them from MLV & Co. LLC by calling toll-free 1-888-344-2272 or JMP Securities LLC by calling collect 1-415-835-8985.
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