Filed under Rule 433
File No. 333-203578
Final Term Sheet
Pinnacle West Capital Corporation
$300,000,000 2.25% Senior Notes due 2020
November 28, 2017
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Issuer: |
Pinnacle West Capital Corporation |
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Expected Ratings: |
A3 / BBB+ / A- (Moody’s / S&P / Fitch) |
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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. |
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Trade Date: |
November 28, 2017 |
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Settlement Date: |
November 30, 2017 (T+2) |
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Security: |
2.25% Senior Notes due 2020 |
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Principal Amount: |
$300,000,000 |
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Interest Payment Dates: |
May 30 and November 30, commencing May 30, 2018 |
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Maturity Date: |
November 30, 2020 |
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Interest Rate: |
2.25% |
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Benchmark Treasury: |
1.750% due November 15, 2020 |
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Benchmark Treasury Price / Yield: |
99-23+ / 1.842% |
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Spread to Benchmark Treasury: |
+43 basis points |
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Yield to Maturity: |
2.272% |
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Public Offering Price: |
99.937% per note |
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Optional Redemption: |
Make-whole call at Treasury rate plus 10 basis points |
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CUSIP/ISIN: |
723484AG6 / US723484AG61 |
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Joint Book-Running Managers: |
Barclays Capital Inc. |
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Mizuho Securities USA LLC |
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SunTrust Robinson Humphrey, Inc. |
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Wells Fargo Securities, LLC |
Pinnacle West Capital Corporation has filed a registration statement (including a prospectus, as supplemented) with the Securities and Exchange Commission (“SEC”) for the offering to which this communication relates. Before you invest, you should read the prospectus (as supplemented) in that registration statement and other documents Pinnacle West Capital Corporation has filed with the SEC for more complete information about Pinnacle West Capital Corporation and this offering. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, Pinnacle West Capital Corporation, 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 at (888) 603-5847, Mizuho Securities USA LLC toll-free at (866) 271-7403, SunTrust Robinson Humphrey, Inc. toll-free at (800) 685-4786 and Wells Fargo Securities, LLC toll-free at (800) 645-3751.
Any disclaimers or other notices that may appear below are not applicable to this communication and should be disregarded. Such disclaimers were automatically generated as a result of this communication being sent via email or another communication system.