Free Writing Prospectus
Filed Pursuant to Rule 433
Registration StatementNo. 333-224333-02
PUBLIC SERVICE COMPANY OF COLORADO
(a Colorado corporation)
$550,000,000 3.20% FIRST MORTGAGE BONDS, SERIES NO. 34 DUE 2050
Issuer: | Public Service Company of Colorado (a Colorado corporation) | |
Issue Format: | SEC Registered | |
Expected Ratings*: | A1/A/A+ (Stable/Stable/Stable) (Moody’s/S&P/Fitch) | |
Security Type: | First Mortgage Bonds | |
Pricing Date: | August 6, 2019 | |
Settlement Date: | August 13, 2019 (T+5) | |
Interest Payment Dates: | Semi-annually on March 1 and September 1, commencing March 1, 2020 | |
Principal Amount: | $550,000,000 | |
Maturity Date: | March 1, 2050 | |
Reference Benchmark: | 3.00% due February 15, 2049 | |
Benchmark Price: | 115-21 | |
Benchmark Yield: | 2.269% | |
Spread to Benchmark Treasury: | +100 bps | |
Yield to Maturity: | 3.269% | |
Coupon: | 3.20% | |
Price to Public: | 98.672% of the principal amount | |
Net Proceeds to Issuer: | $537,883,500 (after deducting the underwriting discount but before transaction expenses) | |
Make-Whole Call: | Prior to September 1, 2049 (the par call date), T+15 bps (calculated to the par call date) | |
Par Call: | On or after September 1, 2049 at par | |
CUSIP/ISIN: | 744448CS8/ US744448CS82 | |
Minimum Denominations: | $2,000 and integral multiples of $1,000 in excess thereof | |
Joint Book-Running Managers: | Barclays Capital Inc. Citigroup Global Markets Inc. PNC Capital Markets LLC TD Securities (USA) 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, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling Barclays Capital Inc. toll-free at1-888-603-5847, Citigroup Global Markets Inc. toll-free at1-800-831-9146, PNC Capital Markets LLC toll-free at1-855-881-0697 or TD Securities (USA) LLC toll-free at1-855-495-9846.