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As Of Filer Filing For·On·As Docs:Size Issuer Agent 5/21/19 Piedmont Natural Gas Co Inc FWP 1:26K Piedmont Natural Gas Co Inc Merrill Corp-MD/FA |
Document/Exhibit Description Pages Size 1: FWP Free-Writing Prospectus HTML 19K
Filed pursuant to Rule 433
Relating to
Preliminary Prospectus Supplement dated May 21, 2019 to
Prospectus dated March 25, 2019
Registration Statement No. 333-213765-06
Piedmont Natural Gas Company, Inc.
$600,000,000 3.50% Senior Notes due 2029
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Pricing Term Sheet |
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Issuer: |
Piedmont Natural Gas Company, Inc. |
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Trade Date: |
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Settlement Date: |
May 24, 2019; T+3 |
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Ratings (Moody’s/S&P)*: |
A3 (Stable)/A- (Negative) |
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Security Description: |
3.50% Senior Notes due 2029 (the “Notes”) |
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Interest Payment Dates: |
June 1 and December 1 of each year, beginning on December 1, 2019 |
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Principal Amount: |
$600,000,000 |
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Maturity Date: |
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Price to Public: |
99.748% per Note, plus accrued interest, if any, from May 24, 2019 |
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Coupon: |
3.50% |
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Benchmark Treasury: |
2.375% due May 15, 2029 |
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Benchmark Treasury Price: |
99-16+ |
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Benchmark Treasury Yield: |
2.430% |
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Spread to Benchmark Treasury: |
+110 bps |
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Yield to Maturity: |
3.530% |
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Redemption Provisions/ |
At any time before March 1, 2029 (which is the date that is three months prior to maturity of the Notes (the “Par Call Date”)), the issuer will have the right to redeem the Notes, at its option, in whole or in part and from time to time, at a redemption price equal to the greater of (1) 100% of the principal amount of the Notes being redeemed and (2) the sum of the present values of the remaining scheduled payments of principal and interest on the Notes being redeemed that would be due if the Notes matured on the Par Call Date (exclusive of interest accrued to the redemption date), discounted to the redemption date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 20 basis points, plus, in either case, accrued and unpaid interest on the principal amount of the Notes being redeemed to, but excluding, such redemption date. |
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Par Call: |
At any time on or after the Par Call Date, the issuer will have the right to redeem the Notes, at its option, in whole or in part and from time to time, at a redemption price equal to 100% of the principal amount of the Notes being redeemed plus accrued and unpaid interest on the principal amount of the Notes being redeemed to, but excluding, such redemption date. |
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CUSIP / ISIN: |
720186 AL9 / US720186AL95 |
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Joint Book-Running Managers: |
BNP Paribas Securities Corp. Credit Suisse Securities (USA) LLC |
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Co-Managers: |
Loop Capital Markets LLC |
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Junior Co-Managers: |
Academy Securities, Inc. |
* Security ratings are not recommendations to buy, sell or hold securities. The ratings are subject to change or withdrawal at any time by the respective credit rating agencies.
The issuer 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 Website at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling BNP Paribas Securities Corp. toll-free at 1-800-854-5674, Credit Suisse Securities (USA) LLC toll-free at 1-800-221-1037, SMBC Nikko Securities America, Inc. toll-free at 1-888-868-6856 or U.S. Bancorp Investments, Inc. toll-free at 1-877-558-2607.
| This ‘FWP’ Filing | Date | Other Filings | ||
|---|---|---|---|---|
 | ||||
| 6/1/29 | ||||
| 5/15/29 | ||||
| 3/1/29 | ||||
| 12/1/19 | ||||
| 5/24/19 | ||||
| Filed on: | 5/21/19 | 424B5 | ||
| 3/25/19 | POSASR | |||
| List all Filings | ||||