0001193125-13-140451.txt : 20130403 0001193125-13-140451.hdr.sgml : 20130403 20130403163104 ACCESSION NUMBER: 0001193125-13-140451 CONFORMED SUBMISSION TYPE: FWP PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20130403 DATE AS OF CHANGE: 20130403 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: IDAHO POWER CO CENTRAL INDEX KEY: 0000049648 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 820130980 STATE OF INCORPORATION: ID FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: FWP SEC ACT: 1934 Act SEC FILE NUMBER: 333-166774 FILM NUMBER: 13739885 BUSINESS ADDRESS: STREET 1: 1221 W IDAHO ST STREET 2: PO BOX 70 CITY: BOISE STATE: ID ZIP: 83702 BUSINESS PHONE: 2083882200 MAIL ADDRESS: STREET 1: PO BOX 70 STREET 2: 1221 W IDAHO STREET CITY: BOISE STATE: ID ZIP: 83702-5627 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: IDAHO POWER CO CENTRAL INDEX KEY: 0000049648 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 820130980 STATE OF INCORPORATION: ID FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: FWP BUSINESS ADDRESS: STREET 1: 1221 W IDAHO ST STREET 2: PO BOX 70 CITY: BOISE STATE: ID ZIP: 83702 BUSINESS PHONE: 2083882200 MAIL ADDRESS: STREET 1: PO BOX 70 STREET 2: 1221 W IDAHO STREET CITY: BOISE STATE: ID ZIP: 83702-5627 FWP 1 d513850dfwp.htm FWP FWP

Filed pursuant to Rule 433

Registration No. 333-166774

April 3, 2013

Final Term Sheet

2.50% First Mortgage Bonds due 2023

Secured Medium-Term Notes, Series I

IDAHO POWER COMPANY

 

 

 

Issuer: Idaho Power Company

 

Trade Date: April 3, 2013

 

Original Issue Date/Settlement Date: April 8, 2013, which is the third business day following the Trade Date

 

Principal Amount: $75,000,000

 

Price to Public: 99.501% of Principal Amount, plus accrued interest from the Original Issue Date

 

Purchasers’ Discount: 0.625%

 

Proceeds to the Company: 98.876%

 

Interest Rate: 2.50% per annum

 

Anticipated Ratings:*

 

Standard & Poor’s Ratings Services: “A-”

Moody’s Investors Service: “A2”

 

Anticipated Use of Proceeds: Together with the net proceeds of First Mortgage Bonds due 2043 offered concurrently with the notes offered hereunder, to pay at or prior to maturity $70 million of Idaho Power Company’s 4.25% First Mortgage Bonds due October 2013 and to fund a portion of Idaho Power Company’s capital requirements. If Idaho Power Company does not use the net proceeds immediately, it will temporarily invest them in short-term investments

   

Interest Payment Dates: April 1 and October 1, commencing October 1, 2013

 

Redemption: As specified in Pricing Supplement No. 5 dated April 3, 2013

 

Make-whole Call: Prior to January 1, 2023, the greater of (i) 100% of the principal amount to be redeemed and (ii) an amount to be determined using a discount rate equal to the Treasury Rate plus 15 basis points

 

Par Call: On or after January 1, 2023, 100% of the principal amount to be redeemed

 

Maturity Date: April 1, 2023

 

CUSIP: 45138LBB8

 

Purchasers:

 

Wells Fargo Securities, LLC ($20,625,000)

J.P. Morgan Securities LLC ($18,750,000)

Merrill Lynch, Pierce, Fenner & Smith

                      Incorporated ($18,750,000)

KeyBanc Capital Markets Inc. ($5,625,000)

BNY Mellon Capital Markets, LLC ($3,750,000)

Mitsubishi UFJ Securities (USA), Inc. ($3,750,000)

U.S. Bancorp Investments, Inc. ($3,750,000)

 

* A securities rating is not a recommendation to buy, sell or hold securities and may be subject to review, revision, suspension or withdrawal at any time.

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 Web site 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 Wells Fargo Securities, LLC, toll free at 1-800-326-5897, J.P. Morgan Securities LLC, collect at 1-212-834-4533, or Merrill Lynch, Pierce, Fenner & Smith Incorporated, toll free at 1-800-294-1322.