0001193125-23-080523.txt : 20230327 0001193125-23-080523.hdr.sgml : 20230327 20230327163756 ACCESSION NUMBER: 0001193125-23-080523 CONFORMED SUBMISSION TYPE: FWP PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20230327 DATE AS OF CHANGE: 20230327 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: 333-255446-02 FILM NUMBER: 23764992 BUSINESS ADDRESS: STREET 1: 1800 LARIMER STREET 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: 1800 LARIMER STREET 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 d489672dfwp.htm FWP FWP

Free Writing Prospectus

Filed Pursuant to Rule 433

Registration Statement No. 333-255446-02

PUBLIC SERVICE COMPANY OF COLORADO

(a Colorado corporation)

$850,000,000 5.25% FIRST MORTGAGE BONDS, SERIES NO. 40 DUE 2053

 

Issuer:    Public Service Company of Colorado (a Colorado corporation)
Issue Format:    SEC Registered
Expected Ratings*:    A1/A/A+ (Stable/Stable/Stable) (Moody’s/S&P/Fitch)
Security Type:    First Mortgage Bonds
Pricing Date:    March 27, 2023
Settlement Date:    April 3, 2023 (T+5)
Principal Amount:    $850,000,000
Maturity Date:    April 1, 2053
Interest Payment Dates:    Semi-annually on April 1 and October 1, commencing on October 1, 2023
Reference Benchmark Treasury:    4.000% due November 15, 2052
Benchmark Treasury Price:    104-16
Benchmark Treasury Yield:    3.747%
Spread to Benchmark Treasury:    +155 bps
Yield to Maturity:    5.297%
Coupon:    5.25%
Price to the Public:    99.298% of the principal amount
Net Proceeds to Issuer:    $836,595,500 (after deducting the underwriting discount but before transaction expenses)
Make-Whole Call:    Prior to October 1, 2052 (the par call date), T+25 bps (calculated to the par call date)
Par Call:    On or after October 1, 2052, at par
CUSIP/ISIN:    744448 CY5 / US744448CY50
Minimum Denominations:    $2,000 and integral multiples of $1,000 in excess thereof
Joint Book-Running Managers:   

Goldman Sachs & Co. LLC

J.P. Morgan Securities LLC

Morgan Stanley & Co. LLC

MUFG Securities Americas Inc.

TD Securities (USA) LLC

BNP Paribas Securities Corp.

Scotia Capital (USA) Inc.

Co-Managers:   

PNC 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 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 Goldman Sachs & Co. LLC toll-free at 1-866-471-2526, J.P. Morgan Securities LLC collect at 1-212-834-4533, Morgan Stanley & Co. LLC toll-free at 1-866-718-1649, MUFG Securities Americas Inc. toll-free at 1-877-649-6848 or TD Securities (USA) LLC toll-free at 1-855-495-9846.