Filed Pursuant to Rule 433
RegistrationNo. 333-224669
September 10, 2019
WASHINGTON GAS LIGHT COMPANY
Pricing Term Sheet
$300,000,000 MEDIUM-TERM NOTES, SERIES L
3.65% NOTES DUE SEPTEMBER 15, 2049
Issuer: | Washington Gas Light Company | |
Anticipated Ratings*: | A2 (negative) /BBB+ (negative) /A (stable) (Moody’s / S&P / Fitch) | |
Security Type: | Medium-Term Notes, Series L, 3.65% Notes Due September 15, 2049 | |
Offering Size: | $300,000,000 | |
Format: | SEC Registered | |
Pricing Date: | September 10, 2019 | |
Settlement Date: | September 13, 2019 (T+3) | |
Interest Payment Dates: | March 15 and September 15 of each year, commencing on March 15, 2020 | |
Maturity Date: | September 15, 2049 | |
Optional Redemption: | Make-whole redemption at any time prior to March 15, 2049, at Treasury Rate plus 25 basis points | |
Callable on or after March 15, 2049 at par | ||
Benchmark Treasury: | 2.875% due May 15, 2049 | |
Benchmark Treasury Price / Yield: | 115-05+ / 2.178% | |
Spread to Benchmark Treasury: | +150 basis points | |
Yield to Maturity: | 3.678% | |
Coupon: | 3.65% | |
Public Offering Price: | 99.494% of the principal amount | |
Proceeds (Before Expenses) to Issuer: | $296,232,000 | |
CUSIP: | 93884P DY3 | |
Denominations: | $2,000 and integral multiples of $1,000 in excess thereof | |
Book-Running Managers: | MUFG Securities Americas Inc. TD Securities (USA) LLC BB&T Capital Markets, a division of BB&T Securities, LLC | |
Co-Managers: | CIBC World Markets Corp. RBC Capital Markets, LLC U.S. Bancorp Investments, Inc. The Williams Capital Group, L.P. |
* | 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 agent or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling MUFG Securities Americas Inc. toll-free at1-877-649-6848 or TD Securities (USA) LLC toll-free at1-855-495-9846.