As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

11/18/19  Arizona Public Service Co         FWP                    1:23K  Arizona Public Service Co         Toppan Merrill/FA

Document/Exhibit                   Description                      Pages   Size 

 1: FWP         Free-Writing Prospectus                             HTML     17K 

 

Filed under Rule 433

File No. 333-224366-01

 

Final Term Sheet

 

Arizona Public Service Company

 

$300,000,000 3.50% Notes due 2049

 

November 18, 2019

 

Issuer:	Arizona Public Service Company
Expected Ratings:	A2 / A- / A (Moody’s / S&P / Fitch)
	Note: A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time.
Trade Date:	November 18, 2019
Settlement Date:	November 20, 2019 (T+2)
Security:	3.50% Notes due 2049
Principal Amount:	$300,000,000
Interest Payment Dates:	June 1 and December 1, commencing June 1, 2020
Maturity Date:	December 1, 2049
Interest Rate:	3.50%
Benchmark Treasury:	2.250% due August 15, 2049
Benchmark Treasury Price / Yield:	98-27+ / 2.303%
Spread to Benchmark Treasury:	+120 basis points
Yield to Maturity:	3.503%
Public Offering Price:	99.944% per note
Optional Redemption:	Make-whole call at any time prior to June 1, 2049 at Treasury rate plus 20 basis points and, thereafter, at par
CUSIP/ISIN:	040555 DA9 / US040555DA91
Joint Book-Running Managers:	Citigroup Global Markets Inc.
	PNC Capital Markets LLC
	RBC Capital Markets, LLC
	Scotia Capital (USA) Inc.
Co-Managers:	KeyBanc Capital Markets Inc.
	BB&T Capital Markets, a division of BB&T Securities, LLC

 

 

Arizona Public Service Company has filed a registration statement (including a prospectus, as supplemented) with the Securities and Exchange Commission (“SEC”) for the offering to which this communication relates. Before you invest, you should read the prospectus (as supplemented) in that registration statement and other documents Arizona Public Service Company has filed with the SEC for more complete information about Arizona Public Service Company and this offering. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, Arizona Public Service Company, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling Citigroup Global Markets Inc. toll-free at (800) 831-9146, PNC Capital Markets LLC toll-free at (855) 881-0697, RBC Capital Markets, LLC toll-free at (866) 375-6829 or Scotia Capital (USA) Inc. toll-free at (800) 372-3930.

 

Any disclaimers or other notices that may appear below are not applicable to this communication and should be disregarded. Such disclaimers were automatically generated as a result of this communication being sent via email or another communication system.

 

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