0001193125-21-320408.txt : 20211104 0001193125-21-320408.hdr.sgml : 20211104 20211104172830 ACCESSION NUMBER: 0001193125-21-320408 CONFORMED SUBMISSION TYPE: FWP PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20211104 DATE AS OF CHANGE: 20211104 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: PUBLIC SERVICE ENTERPRISE GROUP INC CENTRAL INDEX KEY: 0000788784 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC & OTHER SERVICES COMBINED [4931] IRS NUMBER: 222625848 STATE OF INCORPORATION: NJ FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: FWP SEC ACT: 1934 Act SEC FILE NUMBER: 333-250825 FILM NUMBER: 211381270 BUSINESS ADDRESS: STREET 1: CORPORATE ACCOUNTING SERVICES STREET 2: 80 PARK PLAZA, 9TH FLOOR CITY: NEWARK STATE: NJ ZIP: 07102-4194 BUSINESS PHONE: 973-430-7000 MAIL ADDRESS: STREET 1: CORPORATE ACCOUNTING SERVICES STREET 2: 80 PARK PLAZA, 9TH FLOOR CITY: NEWARK STATE: NJ ZIP: 07102-4194 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: PUBLIC SERVICE ENTERPRISE GROUP INC CENTRAL INDEX KEY: 0000788784 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC & OTHER SERVICES COMBINED [4931] IRS NUMBER: 222625848 STATE OF INCORPORATION: NJ FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: FWP BUSINESS ADDRESS: STREET 1: CORPORATE ACCOUNTING SERVICES STREET 2: 80 PARK PLAZA, 9TH FLOOR CITY: NEWARK STATE: NJ ZIP: 07102-4194 BUSINESS PHONE: 973-430-7000 MAIL ADDRESS: STREET 1: CORPORATE ACCOUNTING SERVICES STREET 2: 80 PARK PLAZA, 9TH FLOOR CITY: NEWARK STATE: NJ ZIP: 07102-4194 FWP 1 d204246dfwp.htm FWP FWP

Filed Pursuant to Rule 433

dated November 4, 2021

Relating to

Preliminary Prospectus Supplement

dated November 4, 2021 and

Prospectus dated November 20, 2020

Registration Statement No. 333-250825

Final Term Sheet

$1,500,000,000

Public Service Enterprise Group Incorporated

$750,000,000 0.841% Senior Notes due 2023

$750,000,000 2.450% Senior Notes due 2031

November 4, 2021

 

Issuer:    Public Service Enterprise Group Incorporated
Trade Date:    November 4, 2021   
Settlement Date:    November 8, 2021 (T+2)   
Aggregate Proceeds to Issuer Before Expenses:    $1,491,855,000   
Security:    0.841% Senior Notes due 2023    2.450% Senior Notes due 2031
Ratings*:   

Baa2 (stable outlook) by Moody’s Investor Service, Inc.

BBB (stable outlook) by S&P Global Ratings

Security Type:    Senior Unsecured Fixed Rate Notes    Senior Unsecured Fixed Rate Notes
Principal Amount:    $750,000,000    $750,000,000
Maturity Date:    November 8, 2023    November 15, 2031
Coupon:    0.841% per annum    2.450% per annum

Interest Payment Dates:    The 8th of each May and November, beginning May 8, 2022    The 15th of each May and November, beginning May 15, 2022
Redemption Provisions:    At any time on or after May 8, 2022, at a price equal to 100% of the principal amount of the Notes being redeemed, plus any accrued and unpaid interest on the principal amount of the Notes being redeemed to, but excluding, the redemption date.   

At any time prior to August 15, 2031 (three months prior to the maturity date), at a price equal to the greater of (a) 100% of the principal amount of the Notes being redeemed and (b) the sum of the present values of the remaining scheduled payments of principal of and interest on the Notes being redeemed that would be due if the Notes matured on August 15, 2031, exclusive of accrued interest to the redemption date, discounted to the redemption date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the treasury rate plus 15 basis points (0.15%), plus any accrued and unpaid interest on the principal amount of the Notes being redeemed to, but excluding, the redemption date.

At any time on or after August 15, 2031, at a price equal to 100% of the principal amount of the Notes being redeemed, plus any accrued and unpaid interest on the principal amount of the Notes being redeemed to, but excluding, the redemption date.

Benchmark Treasury:    0.375% due October 31, 2023    1.250% due August 15, 2031
Benchmark Treasury Yield:    0.411%    1.521%
Re-offer Spread to Benchmark:    +43 basis points    +95 basis points
Re-offer Yield:    0.841%    2.471%

Price to Public:    100.00% of Principal Amount    99.814% of Principal Amount
CUSIP / ISIN:    744573AT3 / US744573AT31    744573AU0 / US744573AU04
Joint Book-Running Managers:   

Barclays Capital Inc.

J.P. Morgan Securities LLC

Wells Fargo Securities, LLC

Citigroup Global Markets Inc.

Mizuho Securities USA LLC

Morgan Stanley & Co. LLC

Scotia Capital (USA) Inc.

   

Barclays Capital Inc.

J.P. Morgan Securities LLC

Wells Fargo Securities, LLC

Citigroup Global Markets Inc.

Mizuho Securities USA LLC

Morgan Stanley & Co. LLC

Scotia Capital (USA) Inc.

Co-Managers:   

CIBC World Markets Corp.

PNC Capital Markets LLC

TD Securities (USA) LLC

Loop Capital Markets LLC

Siebert Williams Shank & Co., LLC

   

CIBC World Markets Corp.

PNC Capital Markets LLC

TD Securities (USA) LLC

Loop Capital Markets LLC

Siebert Williams Shank & Co., LLC

* Note: A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision, suspension or withdrawal at any time. Each credit rating should be evaluated independently of any other credit rating.

No PRIIPs or UK PRIIPs KID: No PRIIPs or UK PRIIPs key information document (KID) has been prepared as not available to retail in the EEA or UK.

The Issuer has filed a registration statement (including a prospectus) and a preliminary prospectus supplement with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement, the preliminary prospectus supplement and the other documents the Issuer has filed with the SEC for more complete information about the Issuer and the offering. You may get these documents for free by visiting EDGAR on the SEC’s website at www.sec.gov. Alternatively, any underwriter or any dealer participating in the offering will arrange to send you these documents if you request them by calling Barclays Capital Inc. toll-free at 1-888-603-5847, J.P. Morgan Securities LLC collect at 1-212-834-4533, or Wells Fargo Securities, LLC toll-free at 1-800-645-3751.