0001193125-17-277936.txt : 20170906 0001193125-17-277936.hdr.sgml : 20170906 20170906171458 ACCESSION NUMBER: 0001193125-17-277936 CONFORMED SUBMISSION TYPE: FWP PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20170906 DATE AS OF CHANGE: 20170906 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: PPL CAPITAL FUNDING INC CENTRAL INDEX KEY: 0001047459 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 232758192 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: FWP SEC ACT: 1934 Act SEC FILE NUMBER: 333-202290-05 FILM NUMBER: 171072084 BUSINESS ADDRESS: STREET 1: TWO NORTH NINTH ST CITY: ALLENTOWN STATE: PA ZIP: 18101 BUSINESS PHONE: 6107745591 MAIL ADDRESS: STREET 1: TWO NORTH NINTH ST CITY: ALLENTOWN STATE: PA ZIP: 18101 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: PPL Corp CENTRAL INDEX KEY: 0000922224 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 232758192 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: FWP BUSINESS ADDRESS: STREET 1: TWO N NINTH ST CITY: ALLENTOWN STATE: PA ZIP: 18101-1179 BUSINESS PHONE: 610-774-5151 MAIL ADDRESS: STREET 1: TWO N NINTH ST CITY: ALLENTOWN STATE: PA ZIP: 18101-1179 FORMER COMPANY: FORMER CONFORMED NAME: PPL CORP DATE OF NAME CHANGE: 20000214 FORMER COMPANY: FORMER CONFORMED NAME: PP&L RESOURCES INC DATE OF NAME CHANGE: 19941123 FWP 1 d434777dfwp.htm FWP FWP

Filed pursuant to Rule 433

Registration Nos. 333-202290 and 333-202290-5

Free Writing Prospectus Dated September 6, 2017

Final Term Sheet

PPL CAPITAL FUNDING, INC.

$500,000,000

4.000% SENIOR NOTES DUE 2047

 

Issuer:    PPL Capital Funding, Inc.
Guarantor:    PPL Corporation
Principal Amount:    $500,000,000
Trade Date:    September 6, 2017
Settlement Date:    September 8, 2017 (T+2)
Stated Maturity Date:    September 15, 2047
Interest Payment Dates:    Semi-annually in arrears on March 15 and September 15, commencing on March 15, 2018
Annual Interest Rate:    4.000%
Price to Public:    98.792%
Benchmark Treasury:    3.000% due May 15, 2047
Benchmark Treasury Yield:    2.720%
Spread to Benchmark Treasury:    +135 basis points
Yield to Maturity:    4.070%
Optional Redemption:    Prior to March 15, 2047 (the “Par Call Date”), the notes will be redeemable, in whole at any time or in part from time to time, at a redemption price equal to the greater of (i) 100% of the principal amount of the notes being redeemed and (ii) the sum of the present values of the remaining scheduled payments of principal and interest on the notes to be so redeemed (not including any portion of such payments of interest accrued to the date of redemption) to the Par Call Date discounted to the date of redemption on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Adjusted Treasury Rate, plus 25 basis points, plus, in either of the above cases, accrued and unpaid interest on the principal amount of the notes being redeemed to, but not including, the date of redemption.

   On or after the Par Call Date, the notes will be redeemable at a redemption price equal to 100% of the principal amount of the notes being redeemed, plus accrued and unpaid interest on the principal amount of the notes being redeemed to, but not including, the date of redemption.
CUSIP / ISIN:    69352P AM5 / US69352PAM59
Joint Book-Running Managers:   

Goldman Sachs & Co. LLC

J.P. Morgan Securities LLC

Merrill Lynch, Pierce, Fenner & Smith

                     Incorporated

Scotia Capital (USA) Inc.

Co-Managers:   

BNY Mellon Capital Markets, LLC

CIBC World Markets Corp.

PNC Capital Markets LLC

U.S. Bancorp Investments, Inc.

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 Web site 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 from Goldman Sachs & Co. LLC by calling 1-866-471-2526, J.P. Morgan Securities LLC by calling 212-834-4533 (collect), Merrill Lynch, Pierce, Fenner & Smith Incorporated by calling 1-800-294-1322 or Scotia Capital (USA) Inc. by calling 1-800-372-3930.