Business: W. R. Berkley Corp. 5.70% Subordinated Debentures due 2058, issued in $25 denominations, redeemable at the issuer's option on or after 3/30/2023 at $25 per debenture plus accrued and unpaid interest, and maturing 3/30/2058. <p> Interest distributions of 5.70% per annum ($1.425 per annum or $0.35625 per quarter) will be paid quarterly on 3/30, 6/30, 9/30 & 12/30 to holders of record on the record date that will be 3/15, 6/15, 9/15 & 12/15 respectively (NOTE: the ex-dividend date is one business day prior to the record date). <p> The Issuer has the right on one or more occasions to defer the payment of interest on the debentures for up to five consecutive years (see prospectus for further information). The Issuer may redeem the debentures at any time prior to 3/30/2023, within 90 days of the occurrence of a tax event at a redemption price equal to their principal amount plus accrued and unpaid interestand and also may redeem at any time prior to 3/30/2023, within 90 days of the occurrence of a rating agency event at a redemption price equal to 102% of their principal amount plus any accrued and unpaid interest (see prospectus for further information). <p> Distributions paid by these debt securities are interest and as such are NOT eligible for the preferential 15% to 20% tax rate on dividends and are also NOT eligible for the dividend received deduction for corporate holders. Units are expected to trade flat, which means accrued interest will be reflected in the trading price and the purchasers will not pay and the sellers will not receive any accrued and unpaid interest. <p> This security was rated as Baa3 by Moody’s and BBB- by S&P at the date of its IPO. The Notes are unsecured, subordinated obligations of the company and will rank equally with all existing and future unsecured, subordinated indebtedness of the company. See the IPO prospectus for further information on the debt securities by clicking on the ‘Link to IPO Prospectus’ provided below.