Free Writing Prospectus
Filed Pursuant to Rule 433
Registration Statement No. 333-224333-02
PUBLIC SERVICE COMPANY OF COLORADO
(a Colorado corporation)
$400,000,000 4.05% FIRST MORTGAGE BONDS, SERIES NO. 33 DUE 2049
Issuer: |
Public Service Company of Colorado (a Colorado corporation) | |
Issue Format: |
SEC Registered | |
Expected Ratings*: |
A1/A/A+ (Stable/Stable/Stable) (Moodys/S&P/Fitch) | |
Security Type: |
First Mortgage Bonds | |
Pricing Date: |
March 6, 2019 | |
Settlement Date: |
March 13, 2019 (T+5) | |
Interest Payment Dates: |
Semi-annually on March 15 and September 15, commencing September 15, 2019 | |
Principal Amount: |
$400,000,000 | |
Maturity Date: |
September 15, 2049 | |
Reference Benchmark: |
3.375% due November 15, 2048 | |
Benchmark Price: |
105-27+ | |
Benchmark Yield: |
3.073% | |
Spread to Benchmark Treasury: |
+103 bps | |
Yield to Maturity: |
4.103% | |
Coupon: |
4.05% | |
Price to Public: |
99.082% of the principal amount | |
Net Proceeds to Issuer: |
$392,828,000 (after deducting the underwriting discount but before transaction expenses) | |
Make-Whole Call: |
Prior to March 15, 2049 (the par call date), T+20 bps (calculated to the par call date) | |
Par Call: |
On or after March 15, 2049 at par | |
CUSIP/ISIN: |
744448CR0/ US744448CR00 | |
Minimum Denominations: |
$2,000 and integral multiples of $1,000 in excess thereof | |
Joint Book-Running Managers: |
BMO Capital Markets Corp. BNP Paribas Securities Corp. Credit Suisse Securities (USA) LLC 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, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling BMO Capital Markets Corp. toll-free at 1-866-864-7760, BNP Paribas Securities Corp. toll-free at 1-800-854-5674, Credit Suisse Securities (USA) LLC toll-free at 1-800-221-1037 or Scotia Capital (USA) Inc. toll-free at 1-800-372-3930.