0001193125-16-495188.txt : 20160307 0001193125-16-495188.hdr.sgml : 20160307 20160307160537 ACCESSION NUMBER: 0001193125-16-495188 CONFORMED SUBMISSION TYPE: FWP PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20160307 DATE AS OF CHANGE: 20160307 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: 333-188768-01 FILM NUMBER: 161488479 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 d154565dfwp.htm FWP FWP

Filed pursuant to Rule 433

Registration No. 333-188768-01

March 7, 2016

Final Term Sheet

4.05% First Mortgage Bonds due 2046

Secured Medium-Term Notes, Series J

IDAHO POWER COMPANY

 

 

 

Issuer: Idaho Power Company

 

Trade Date: March 7, 2016

 

Original Issue Date/Settlement Date: March 10, 2016, which is the third business day following the Trade Date

 

Principal Amount: $120,000,000

 

Price to Public: 99.742% of Principal Amount, plus accrued interest from the Original Issue Date

 

Purchasers’ Discount: 0.75%

 

Proceeds to the Company: 98.992%

 

Interest Rate: 4.05% per annum

 

Anticipated Ratings:*

 

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

Moody’s Investors Service: “A1”

 

Anticipated Use of Proceeds: To pay at or prior to maturity $100 million of Idaho Power Company’s 6.15% First Mortgage Bonds due April 2019 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: March 1 and September 1, commencing September 1, 2016

 

Redemption: As specified in Pricing Supplement No. 2 dated March 7, 2016

 

Make-whole Call: Prior to September 1, 2045, 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 25 basis points

 

Par Call: On or after September 1, 2045, 100% of the principal amount to be redeemed

 

Maturity Date: March 1, 2046

 

CUSIP: 45138LBE2

 

Purchasers:

 

Wells Fargo Securities, LLC ($31,200,000)

J.P. Morgan Securities LLC ($25,200,000)

KeyBanc Capital Markets Inc. ($25,200,000)

Mitsubishi UFJ Securities (USA), Inc. ($25,200,000)

Merrill Lynch, Pierce, Fenner & Smith

                     Incorporated ($5,400,000)

U.S. Bancorp Investments, Inc. ($5,400,000)

BNY Mellon Capital Markets, LLC ($2,400,000)

 

* 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 J.P. Morgan Securities LLC, collect at 1-212-834-4533, Key Banc Capital Markets Inc., toll free at 1-866-227-6479, Mitsubishi UFJ Securities (USA), Inc., toll free at 1-877-649-6848 or Wells Fargo Securities, LLC, toll free at 1-800-645-3751.