fwp
 

Filed Pursuant to Rule 433
Registration No. 333-134596
Trinity Industries
$450,000,000 3.875% Convertible Subordinated Notes due 2036
     
Security Information
Company name
  Trinity Industries
Security
  Convertible Subordinated Notes due 2036
Registration format
  SEC Registered
CUSIP
  896522 AF 6
Ranking
  Subordinated
Credit rating
  B+ / Ba3
Common stock ticker
  NYSE / TRN
                 
Size
    Bonds     Proceeds  
Base deal
    450,000     $ 450,000,000  
Over-allotment option
    50,000     $ 50,000,000  
 
           
Total
    500,000     $ 500,000,000  
                 
Terms
Par amount per bond
          $ 1,000  
Issue price
          $ 1,000  
Coupon
            3.875 %
Contingent interest
          0.375% per period  
Conversion premium
            35.000 %
Last sale of common
          $ 58.03  
Conversion price
          $ 78.34  
Conversion ratio
            12.7648  
Contingent conversion threshold
            130 %
Contingent conversion price
          $ 101.84  
                 
Dates
Trade Date
            06/01/06  
Settlement Date
            06/07/06  
Maturity
          30 Years  
Maturity Date
            06/01/36  
Coupon Payment Dates
            06/01, 12/01  
First Coupon Date
            12/01/06  
                 
Call Schedule
First call date
          Call Price
 
             
06/01/18
          $ 1,000.00  
                 
Put Schedule
Put schedule
          Put Price
 
             
06/01/18
          $ 1,000.00  
             
Underwriting       Economics  
 
Bookrunner
  J.P. Morgan Securities Inc.     60.267 %
 
  Banc of America Securities LLC     17.778 %
 
  Wachovia Capital Markets, LLC     17.778 %
 
           
Co-manager
  Greenwich Capital Markets, Inc     1.896 %
 
  Dresdner Kleinwort Wasserstein Securities LLC     1.007 %
 
  BNP Paribas Securities Corp.     0.919 %
 
  Amegy Bank National Association     0.356 %
                 
Economics Breakdown
Gross Spread (per bond)
  $ 18.750     1.875%
Management (per bond)
  $ 3.750     20% (of gross spread)
Underwriting (per bond)
  $ 3.750     20% (of gross spread)
Selling Concession (per bond)
  $ 11.250     60% (of gross spread)
The Company filed yesterday with the Securities and Exchange Commission a preliminary prospectus with a shelf registration statement, which became automatically effective upon filing.
The Company has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement 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 Web site at www.sec.gov. Alternatively, the Company, any underwriter or any dealer participating in the offering will arrange to send to you the prospectus if you request it by calling toll-free 1-800-294-1322 or you may e-mail a request to addressing.services@jpmorgan.com, dg.prospectus_distribution@bofasecurities.com or equity.syndicate@wachovia.com.
Any disclaimer or other notice that may appear below is not applicable to this communication and should be disregarded. Such disclaimer or notice was automatically generated as a result of this communication being sent by Bloomberg or another email system.
(JP MORGAN LOGO)


 

Adjustment to shares delivered upon conversion upon certain Fundamental Changes
         
Assumptions
Stock price at issue
  $ 58.03  
Conversion premium
    35.00 %
Conversion price
  $ 78.34  
Face value
  $ 1,000.00  
Conversion ratio
    12.7648  
                                                                                                                 
Effective date   $58.03     $60.00     $70.00     $80.00     $90.00     $100.00     $110.00     $120.00     $130.00     $140.00     $150.00     $160.00     $170.00     $180.00  
6/7/2006
    4.4677       4.6307       3.5911       2.8558       2.3141       1.9022       1.5809       1.3253       1.1184       0.9487       0.8077       0.6896       0.5897       0.5047  
6/1/2007
    4.4677       4.6031       3.5529       2.8143       2.2728       1.8630       1.5446       1.2921       1.0884       0.9216       0.7834       0.6679       0.5703       0.4874  
6/1/2008
    4.4677       4.5734       3.5102       2.7673       2.2260       1.8185       1.5035       1.2547       1.0546       0.8914       0.7565       0.6439       0.5491       0.4687  
6/1/2009
    4.4677       4.5639       3.4768       2.7235       2.1788       1.7716       1.4587       1.2131       1.0165       0.8568       0.7253       0.6159       0.5241       0.4464  
6/1/2010
    4.4677       4.5425       3.4284       2.6637       2.1160       1.7101       1.4008       1.1597       0.9679       0.8130       0.6861       0.5809       0.4929       0.4187  
6/1/2011
    4.4677       4.5035       3.3588       2.5820       2.0322       1.6292       1.3254       1.0906       0.9055       0.7571       0.6362       0.5366       0.4536       0.3839  
6/1/2012
    4.4677       4.4502       3.2687       2.4783       1.9270       1.5288       1.2326       1.0067       0.8305       0.6906       0.5776       0.4851       0.4086       0.3446  
6/1/2013
    4.4677       4.3747       3.1482       2.3419       1.7902       1.3994       1.1141       0.9003       0.7362       0.6075       0.5049       0.4218       0.3535       0.2967  
6/1/2014
    4.4677       4.2824       2.9957       2.1681       1.6161       1.2357       0.9655       0.7681       0.6202       0.5066       0.4176       0.3464       0.2886       0.2410  
6/1/2015
    4.4677       4.1633       2.7930       1.9361       1.3851       1.0208       0.7732       0.5998       0.4749       0.3823       0.3117       0.2565       0.2124       0.1764  
6/1/2016
    4.4677       4.0128       2.5151       1.6145       1.0683       0.7327       0.5222       0.3865       0.2961       0.2335       0.1882       0.1541       0.1275       0.1059  
6/1/2017
    4.4677       3.8633       2.1239       1.1363       0.6051       0.3317       0.1945       0.1258       0.0899       0.0696       0.0567       0.0474       0.0401       0.0338  
6/1/2018
    4.4677       3.9079       1.5260       0.0000       0.0000       0.0000       0.0000       0.0000       0.0000       0.0000       0.0000       0.0000       0.0000       0.0000  
  If the stock price is less than $58.03 per share (subject to adjustment), no additional shares will be issued upon conversion.
 
  If the stock price is greater than $180.00 per share (subject to adjustment), no additional shares will be issued upon conversion.
 
  Conversion rate cap of 17.2325 (subject to adjustment) for Fundamental Change and cash dividend adjustments.