FWP 1 a14-1388_2fwp.htm FWP

 

Filed under Rule 433

File No. 333-180897-01

 

Final Term Sheet

 

January 7, 2014

 

Issuer:

 

Arizona Public Service Company

Security:

 

$250,000,000 4.70% Notes due 2044

Maturity:

 

January 15, 2044

Interest rate:

 

4.70%

Yield to maturity:

 

4.725%

Spread:

 

+83 basis points

Benchmark Treasury security:

 

3.625% due August 15, 2043

Benchmark Treasury yield:

 

3.895%

Optional redemption:

 

Make-whole call at any time prior to July 15, 2043 at Treasury rate plus 15 basis points and, thereafter, at par

Interest payment dates:

 

January 15 and July 15

First interest payment date:

 

July 15, 2014

Public offering price:

 

99.600% per note

Trade date:

 

January 7, 2014

Settlement date:

 

January 10, 2014 (T+3)

Expected Ratings:

 

Baa1 / 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.

Joint Book-Running Managers:

 

Citigroup Global Markets Inc.

 

 

Merrill Lynch, Pierce, Fenner & Smith

 

 

Incorporated

 

 

UBS Securities LLC

 

 

U.S. Bancorp Investments, Inc.

Co-Managers:

 

Blaylock Robert Van, LLC

 

 

Drexel Hamilton, LLC

 

 

The Williams Capital Group, L.P.

CUSIP/ISIN:

 

040555 CP7 / US040555CP79

 

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 1-800-831-9146, Merrill Lynch, Pierce, Fenner & Smith Incorporated toll-free at 1-800-294-

 


 

1322, UBS Securities LLC toll-free at 1-877-827-6444, ext. 561-3884 or U.S. Bancorp Investments, Inc. toll free at 1-877-558-2607.

 

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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