0001140361-12-039254.txt : 20120904 0001140361-12-039254.hdr.sgml : 20120903 20120904172512 ACCESSION NUMBER: 0001140361-12-039254 CONFORMED SUBMISSION TYPE: FWP PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20120904 DATE AS OF CHANGE: 20120904 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: PUBLIC SERVICE CO OF COLORADO CENTRAL INDEX KEY: 0000081018 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC & OTHER SERVICES COMBINED [4931] IRS NUMBER: 840296600 STATE OF INCORPORATION: CO FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: FWP SEC ACT: 1934 Act SEC FILE NUMBER: 333-169772 FILM NUMBER: 121071779 BUSINESS ADDRESS: STREET 1: 1225 17TH ST STE 900 CITY: DENVER STATE: CO ZIP: 80202 BUSINESS PHONE: 3035717511 MAIL ADDRESS: STREET 1: P O BOX 840 STE 300 CITY: DENVER STATE: CO ZIP: 80201 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: PUBLIC SERVICE CO OF COLORADO CENTRAL INDEX KEY: 0000081018 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC & OTHER SERVICES COMBINED [4931] IRS NUMBER: 840296600 STATE OF INCORPORATION: CO FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: FWP BUSINESS ADDRESS: STREET 1: 1225 17TH ST STE 900 CITY: DENVER STATE: CO ZIP: 80202 BUSINESS PHONE: 3035717511 MAIL ADDRESS: STREET 1: P O BOX 840 STE 300 CITY: DENVER STATE: CO ZIP: 80201 FWP 1 formfwp.htm PUBLIC SERVICE COMPANY OF COLORADO FWP 9-4-2012 formfwp.htm
Free Writing Prospectus
Filed Pursuant to Rule 433
Registration Statement No. 333-169772

PUBLIC SERVICE COMPANY OF COLORADO
(a Colorado corporation)
 
$300,000,000 2.25% FIRST MORTGAGE BONDS, SERIES NO. 23 DUE 2022
$500,000,000 3.60% FIRST MORTGAGE BONDS, SERIES NO. 24 DUE 2042
 
Issuer:
Public Service Company of Colorado (a Colorado corporation)
Issue Format:
SEC Registered
Expected Ratings*:
A2/A/A (Stable/Stable/Stable) (Moody’s/Standard & Poor’s/Fitch)
Security Type:
First Mortgage Bonds
Pricing Date:
September 4, 2012
Settlement Date:
September 11, 2012 (T+5)
Interest Payment Dates:
Each March 15 and September 15, commencing March 15, 2013
Principal Amount:
$300,000,000
$500,000,000
Maturity Date:
September 15, 2022
September 15, 2042
Reference Benchmark:
1.625% due August 15, 2022
3.000% due May 15, 2042
Benchmark Price:
100-13
106-24+
Benchmark Yield:
1.581%
2.669%
Re-offer Spread:
+68 bps
+95 bps
Re-offer Yield:
2.261%
3.619%
Coupon:
2.25%
3.60%
Issue Price to Public:
99.902%
99.654%
Net Proceeds to Issuer:
Make-Whole Call:
$297,756,000 (before transaction expenses)
Prior to March 15, 2022, T+10 bps
$493,895,000 (before transaction expenses)
Prior to March 15, 2042, T+15 bps
Par Call:
On or after March 15, 2022
On or after March 15, 2042
CUSIP/ISIN:
Minimum Denominations:
744448 CF6/ US744448CF61
$1,000
744448 CG4/ US744448CG45
Pro Forma Ratio of Consolidated Earnings to Consolidated Fixed Charges:
Six Months Ended
June 30, 2012
3.7
Year Ended
December 31, 2011
3.9
  
Joint Bookrunners:
BNP Paribas Securities Corp.
Credit Suisse Securities (USA) LLC
Goldman, Sachs & Co.
Merrill Lynch, Pierce, Fenner & Smith
  
 
  Incorporated
  
 
RBS Securities Inc.
U.S. Bancorp Investments, Inc.
  
Co-Managers:
Mizuho Securities USA Inc.
Scotia Capital (USA) 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 Credit Suisse Securities (USA) LLC, toll free at 1-800-221-1037, Goldman, Sachs & Co., toll free at 1-866-471-2526, Merrill Lynch, Pierce, Fenner & Smith Incorporated, toll free at 1-800-294-1322 or RBS Securities Inc., toll free at 1-866-884-2071.