Free Writing Prospectus
Filed Pursuant to Rule 433
Registration Statement No. 333-255446
XCEL ENERGY INC.
(a Minnesota corporation)
$700,000,000 4.60% SENIOR NOTES, SERIES DUE JUNE 1, 2032
Issuer: | Xcel Energy Inc. (a Minnesota corporation) | |
Issue Format: | SEC Registered | |
Expected Ratings*: | Baa1/BBB+/BBB+ (Stable/Stable/Stable) (Moodys/S&P/Fitch) | |
Security Type: | Senior Notes | |
Pricing Date: | May 3, 2022 | |
Settlement Date: | May 6, 2022 (T+3) | |
Principal Amount: | $700,000,000 | |
Maturity Date: | June 1, 2032 | |
Interest Payment Dates: | Semi-annually on June 1 and December 1, beginning on December 1, 2022 | |
Reference Benchmark Treasury: | 1.875% due February 15, 2032 | |
Benchmark Treasury Price: | 91-01+ | |
Benchmark Treasury Yield: | 2.934% | |
Spread to Benchmark Treasury: | +167 bps | |
Yield to Maturity: | 4.604% | |
Coupon: | 4.60% | |
Price to the Public: | 99.964% of the principal amount | |
Net Proceeds to Issuer: | $695,198,000 (after deducting the underwriting discount but before transaction expenses) | |
Make-Whole Call: | Prior to December 1, 2031 (the par call date), T+30 bps (calculated to the par call date) | |
Par Call: | On or after December 1, 2031, at par | |
CUSIP/ISIN: | 98388M AD9 / US98388MAD92 | |
Minimum Denominations: | $2,000 and integral multiples of $1,000 in excess thereof | |
Joint Book-Running Managers: | Barclays Capital Inc. Morgan Stanley & Co. LLC RBC Capital Markets, LLC U.S. Bancorp Investments, Inc. Wells Fargo Securities, LLC BMO Capital Markets Corp. | |
Co-Manager: | AmeriVet Securities, Inc. |
*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. |
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 Barclays Capital Inc. toll-free at 1-888-603-5847, Morgan Stanley & Co. LLC toll-free at 1-866-718-1649, RBC Capital Markets, LLC toll-free at 1-866-375-6829, U.S. Bancorp Investments, Inc. toll-free at 1-877-558-2607 or Wells Fargo Securities, LLC toll-free at 1-800-645-3751.