0001193125-19-170185.txt : 20190611 0001193125-19-170185.hdr.sgml : 20190611 20190611160430 ACCESSION NUMBER: 0001193125-19-170185 CONFORMED SUBMISSION TYPE: FWP PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20190611 DATE AS OF CHANGE: 20190611 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: 19891069 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 d764411dfwp.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 3.75% FIRST MORTGAGE BONDS, SERIES NO. 7 DUE 2049

 

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:    June 11, 2019
Settlement Date:    June 18, 2019 (T+5)
Maturity Date:    June 15, 2049
Interest Payment Dates:    Semi-annually on June 15 and December 15, commencing on December 15, 2019
Reference Benchmark Treasury:    3.00% due February 15, 2049
Benchmark Treasury Price / Yield:    107-25 / 2.621%
Spread to Benchmark Treasury:    +120 bps
Yield to Maturity:    3.821%
Coupon:    3.75%
Price to Public:    98.739% of principal amount
Net Proceeds to Issuer:    $293,592,000 (after underwriting discount but before transaction expenses)
Make-Whole Call:    Prior to December 15, 2048 (the par call date), T +20 bps (calculated to the par call date)
Par Call:    On or after December 15, 2048 at par
CUSIP/ISIN:    845743 BT9/ US845743BT97
Minimum Denominations:    $2,000 and integral multiples of $1,000 in excess thereof
Joint Book-Running Managers:   

BofA Securities, Inc.
KeyBanc Capital Markets Inc.

U.S. Bancorp Investments, 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, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling BofA Securities, Inc., toll-free at 1-800-294-1322, KeyBanc Capital Markets Inc., toll-free at 1-866-227-6479 or U.S. Bancorp Investments, Inc., toll-free at 1-877-558-2607.