FWP 1 a14-15028_2fwp.htm FWP

 

Filed under Rule 433
File No. 333-180897-01

 

Final Term Sheet

 

June 9, 2014

 

Issuer:

Arizona Public Service Company

Security:

$250,000,000 3.350% Notes due 2024

Maturity:

June 15, 2024

Interest rate:

3.350%

Yield to maturity:

3.361%

Spread:

+75 basis points

Benchmark Treasury security:

2.50% due May 15, 2024

Benchmark Treasury yield:

2.611%

Optional redemption:

Make-whole call at any time prior to March 15, 2024 at Treasury rate plus 15 basis points and, thereafter, at par

Interest payment dates:

June 15 and December 15

First interest payment date:

December 15, 2014

Public offering price:

99.908% per note

Trade date:

June 9, 2014

Settlement date:

June 18, 2014 (T+7)

Expected ratings:

A3 / 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:

BNP Paribas Securities Corp.

 

BNY Mellon Capital Markets, LLC

 

J.P. Morgan Securities LLC

 

Scotia Capital (USA) Inc.

Co-Managers:

C.L. King & Associates, Inc.

 

UMB Financial Services, Inc.

CUSIP/ISIN:

040555 CQ5 / US040555CQ52

 

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 BNP Paribas Securities Corp. toll-free at 1-800-854-5674, BNY Mellon Capital Markets, LLC toll-free at 1-800-369-6864, J.P. Morgan Securities LLC collect at 1-212-834-4533 or Scotia Capital (USA) Inc. toll-free at 1-800-372-3930.

 


 

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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