0001193125-18-310568.txt : 20181029 0001193125-18-310568.hdr.sgml : 20181029 20181029160404 ACCESSION NUMBER: 0001193125-18-310568 CONFORMED SUBMISSION TYPE: FWP PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20181029 DATE AS OF CHANGE: 20181029 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: SOUTHWESTERN PUBLIC SERVICE CO CENTRAL INDEX KEY: 0000092521 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC & OTHER SERVICES COMBINED [4931] IRS NUMBER: 750575400 STATE OF INCORPORATION: NM FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: FWP SEC ACT: 1934 Act SEC FILE NUMBER: 333-224333-01 FILM NUMBER: 181144249 BUSINESS ADDRESS: STREET 1: SPS TOWER STREET 2: TYLER AT SIXTH ST CITY: AMARILLO STATE: TX ZIP: 79101 BUSINESS PHONE: 3035717511 MAIL ADDRESS: STREET 1: PO BOX 1261 CITY: AMARILLO STATE: TX ZIP: 79170 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: SOUTHWESTERN PUBLIC SERVICE CO CENTRAL INDEX KEY: 0000092521 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC & OTHER SERVICES COMBINED [4931] IRS NUMBER: 750575400 STATE OF INCORPORATION: NM FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: FWP BUSINESS ADDRESS: STREET 1: SPS TOWER STREET 2: TYLER AT SIXTH ST CITY: AMARILLO STATE: TX ZIP: 79101 BUSINESS PHONE: 3035717511 MAIL ADDRESS: STREET 1: PO BOX 1261 CITY: AMARILLO STATE: TX ZIP: 79170 FWP 1 d647371dfwp.htm FWP FWP

Free Writing Prospectus

Filed Pursuant to Rule 433

Registration Statement No. 333-224333-01

Southwestern Public Service Company

(a New Mexico corporation)

$300,000,000 4.40% FIRST MORTGAGE BONDS, SERIES NO. 6 DUE 2048

 

Issuer:    Southwestern Public Service Company (a New Mexico corporation)
Issue Format:    SEC Registered
Expected Ratings*:    A3 (Stable)/A (Stable)/A- (Stable) (Moody’s/Standard & Poor’s/Fitch)
Security Type:    First Mortgage Bonds
Principal Amount:    $300,000,000
Pricing Date:    October 29, 2018
Settlement Date:    November 5, 2018 (T+5)
Maturity Date:    November 15, 2048
Interest Payment Dates:    Semi-annually on May 15 and November 15, commencing on May 15, 2019
Reference Benchmark Treasury:            3.125% due May 15, 2048
Benchmark Treasury Price / Yield:    96-00 / 3.339%
Spread to Benchmark Treasury:    +110 bps
Yield to Maturity:    4.439%
Coupon:    4.40%
Price to Public:    99.355% of principal amount
Net Proceeds to Issuer:    $295,440,000 (after underwriting discount but before transaction expenses)
Make-Whole Call:    Prior to May 15, 2048 (the par call date), T +20 bps (calculated to the par call date)
Par Call:    On or after May 15, 2048 at par
CUSIP/ISIN:    845743 BS1/ US845743BS15
Minimum Denominations:    $1,000
Joint Book-Running Managers:   

KeyBanc Capital Markets Inc.

PNC Capital Markets LLC

Scotia Capital (USA) Inc.

Wells Fargo Securities, 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, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling KeyBanc Capital Markets Inc., toll-free at 1-866-227-6479, PNC Capital Markets LLC, toll-free at 1-855-881-0697, Scotia Capital (USA) Inc., toll-free at 1-800-372-3930 or Wells Fargo Securities, LLC, toll-free at 1-800-645-3751.