0001193125-22-157402.txt : 20220523 0001193125-22-157402.hdr.sgml : 20220523 20220523154059 ACCESSION NUMBER: 0001193125-22-157402 CONFORMED SUBMISSION TYPE: FWP PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20220523 DATE AS OF CHANGE: 20220523 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: 333-255446-01 FILM NUMBER: 22951349 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 d344752dfwp.htm FWP FWP

Free Writing Prospectus

Filed Pursuant to Rule 433

Registration Statement No. 333-255446-01

Southwestern Public Service Company

(a New Mexico corporation)

$200,000,000 5.15% FIRST MORTGAGE BONDS, SERIES NO. 9 DUE 2052

 

Issuer:    Southwestern Public Service Company (a New Mexico corporation)
Issue Format:    SEC Registered
Expected Ratings*:    A3/A/A- (Stable/Stable/Stable) (Moody’s/S&P/Fitch)
Security Type:    First Mortgage Bonds
Pricing Date:    May 23, 2022
Settlement Date:    May 31, 2022 (T+5)
Principal Amount:    $200,000,000
Maturity Date:    June 1, 2052
Interest Payment Dates:    Semi-annually on June 1 and December 1, commencing on December 1, 2022
Reference Benchmark Treasury:    2.250% due February 15, 2052
Benchmark Treasury Price    83-26+
Benchmark Treasury Yield:    3.085%
Spread to Benchmark Treasury:    +210 bps
Yield to Maturity:    5.185%
Coupon:    5.15%
Price to the Public:    99.470% of the principal amount
Net Proceeds to Issuer:    $197,190,000 (after deducting the underwriting discount but before transaction expenses)
Make-Whole Call:    Prior to December 1, 2051 (the par call date), T +35 bps (calculated to the par call date)
Par Call:    On or after December 1, 2051, at par
CUSIP/ISIN:    845743 BW2/ US845743BW27
Minimum Denominations:    $2,000 and integral multiples of $1,000 in excess thereof
Joint Book-Running Managers:   

BofA Securities, Inc.

BNP Paribas Securities Corp.

*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 BofA Securities, Inc. toll-free at 1-800-294-1322 or BNP Paribas Securities Corp. toll-free at 1-800-854-5674.