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AvalonBay Communities Prices $400 Million Unsecured Notes Offering

AvalonBay Communities, Inc. (NYSE: AVB) announced today that it priced a $400 million offering of unsecured notes with a maturity of 2020 under its existing shelf registration statement. Details of the transaction are set forth in the table below:

Principal Amount

Maturity Date

Issue Price

Coupon Rate

Yield to Investors

3.625% Medium TermNotes due October 1, 2020
$400 million October 1, 2020 99.728% 3.625% 3.669%

Interest on the notes will be paid semi-annually on April 1 and October 1, with the first payment to be made on April 1, 2014. Settlement is scheduled for September 20, 2013.

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