Filed Pursuant to Rule 433
Registration Nos. 333-223142 and 333-223142-05
Free Writing Prospectus Dated April 1, 2020
Final Term Sheet
PPL CAPITAL FUNDING, INC.
$1,000,000,000
4.125% SENIOR NOTES DUE 2030
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Issuer: |
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PPL Capital Funding, Inc. |
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Guarantor: |
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PPL Corporation |
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Principal Amount: |
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$1,000,000,000 |
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Trade Date: |
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April 1, 2020 |
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Settlement Date: |
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April 3, 2020 (T+2) |
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Stated Maturity Date: |
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April 15, 2030 |
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Interest Payment Dates: |
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Semi-annually in arrears on April 15 and October 15, commencing on October 15, 2020 |
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Annual Interest Rate: |
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4.125% |
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Price to Public: |
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99.966% |
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Benchmark Treasury: |
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1.50% due February 15, 2030 |
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Benchmark Treasury Yield: |
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0.629% |
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Spread to Benchmark Treasury: |
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+350 basis points |
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Yield to Maturity: |
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4.129% |
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*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 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 by calling Credit Suisse Securities (USA) LLC toll-free at 1-800-221-1037, J.P. Morgan Securities LLC collect at 1-212-834-4533 or Morgan Stanley & Co. LLC toll-free at 1-866-718-1649.