EFTA02385053

From: Richard Kah Sent: Monday, November 16, 2015 4:11 PM To: jeffrey E. Subject: Fwd: New Issue $25 Par. United States Cellular Corporation (NYSE: USM) 7.25% -7.375% Attachments: United States Cellular Corp. Prospectus Supplement.pdt Untitled attachment 00200.htm please advise thank you Richard Kahn HBRK Associates Inc. 575 Lexington =venue 4th Floor Ne tel fa cel Begin forwarded message: From: =/b>"Atlas, Andrew Ol Subject: =/b>New Issue $25 =ar: United States Cellular Corporation (NYSE: USM) 7.25%=7.375% Date: =/b>November 16, 2015 at 10:12:44 =M EST To: =/b>"Richard Kahn Hi =ich, Hope you had a nice weekend. New=lssue $25 Par Preferred Offering today that I wanted to show Southern =rust Company. EFTA_R1_01403085 EFTA02385053 United States Cellular Corporation (NYSE:USM) &nb=p; Issuer: &n=sp; &nbs=; =nited States Cellular Corporation (Ticker: USM) Securities =ffered: Senior =nsecured Notes Expected Ratings: =nbsp; &n=sp; &nbs=; Bat=/ BB / BB+ (neg/stable/stable) Size: &nbs=; =150mm (6mm $25 par notes) Tenor: =nbsp; &n=sp; 49 NCS &nb=p; Maturity: =nbsp; &n=sp; December 1, 2064 Price =uidance: 8c=bsp; 7.25 - 7.375% &nb=p; Offer =rice: &n=sp; =25 per security &nb=p; Payment =ates: &n=sp; &nbs=; Quarterly, beginning March 1, =016 Optional =edemption: &nb=p; In =hole or in part, at any time on or after December 1, 2020 at a =edemption price equal to 100% of the principal amount redeemed plus =ccrued and unpaid interest to the redemption date. See Red for Details. Use=of Proceeds: For=General Corporate Purposes, which may include acquisitions of =dditional spectrum. &nb=p; DRD/QDI =ligible: &=bsp; No Subject to U.S. Tax Withholding for NRA =lients &=bsp; &nb=p; Generally No* Listing: =nbsp; &n=sp; &nbs=; NYSE 2 EFTA_R1_01403086 EFTA02385054 Please let me know if you have any questions. Best, Andrew Andrew S. Atlas Financial =dvisor Equity Sales/Middle Markets Group Morgan Stanley Wealth Management Midtown Manhattan =omplex 1290 Avenue of the =mericas, 12th Floor I New York, =Y 10104 T I ir : Important Notice to Recipients: Please do not use e-mail to request, authorize or effect the purchase or sale of any =ecurity or commodity. Unfortunately, we cannot execute such instructions provided =n e-mail. Thank you. The sender of this =-mail is an employee of Morgan Stanley Smith Barney LLC ("Morgan Stanley"). If you have =eceived this communication in error, please destroy all electronic and paper =opies and notify the sender immediately. Erroneous transmission is not intended to =aive confidentiality or privilege. Morgan Stanley reserves the right, =o the extent permitted under applicable law, to monitor electronic =ommunications. This message is subject to terms available at the following link: http://www.morganstanley.com/disclaimers/mssbemail.html.&nb=p; If you cannot access this link, please notify us by reply message and we will send the =contents to you. By messaging with Morgan Stanley you consent to =he foregoing. 3 EFTA_R1_01403087 EFTA02385055