Filed Pursuant to Rule 433
Dated March 30, 2020
Registration StatementNo. 333-222076-01
WISCONSIN POWER AND LIGHT COMPANY
Final Term Sheet
Dated March 30, 2020
| Issuer: | Wisconsin Power and Light Company (the “Company”) | |
| Security Type: | Debentures | |
| Principal Amount: | $350,000,000 | |
| Maturity Date: | April 1, 2050 | |
| Benchmark Treasury: | 2.375% due November 15, 2049 | |
| Benchmark Treasury Yield: | 1.307% | |
| Spread to Benchmark Treasury: | +235 bps | |
| Yield to Maturity: | 3.657% | |
| Price to Public: | 99.873% of the principal amount | |
| Coupon: | 3.650% | |
| Interest Payment Dates: | April 1 and October 1, commencing October 1, 2020 | |
| Optional Redemption – Reinvestment Rate: | Prior to October 1, 2049, make-whole call at T+40 bps | |
| Optional Redemption at Par: | On or after October 1, 2049 | |
| Trade Date: | March 30, 2020 | |
| Settlement Date: | April 2, 2020 (T+3) | |
| CUSIP: | 976826 BN6 | |
| ISIN: | US976826BN62 | |
| Denominations / Multiples: | $2,000 x $1,000 | |
| Anticipated Ratings*: | A3 / A (Moody’s/ S&P) | |
| Joint Book-Running Managers: | BofA Securities, Inc. J.P. Morgan Securities LLC Wells Fargo Securities, LLC | |
| Co-Managers: | KeyBanc Capital Markets Inc. Siebert Williams Shank & Co., LLC U.S. Bancorp Investments, Inc. | |
* A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time.
It is expected that delivery of the Debentures will be made against payment therefor on or about April 2, 2020, which will be the third business day following the date of pricing of the Debentures.
UnderRule 15c6-1 of the Securities Exchange Act of 1934, trades in the secondary market generally are required to settle in two business days, unless the parties to any such trade expressly agree otherwise. Accordingly, by virtue of the fact that the Debentures initially will settle in T+3, purchasers who wish to trade the Debentures on any date prior to the second business day before delivery should specify an extended settlement cycle at the time they enter into any such trade to prevent failed settlement and should consult their own advisors.
The issuer has filed a registration statement (including a prospectus) with the Securities & Exchange Commission (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 that 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, you may request a copy of these documents by calling BofA Securities, Inc. toll free at1-800-294-1322, J.P. Morgan Securities LLC collect at1-212-834-4533, or Wells Fargo Securities, LLC toll-free at1-800-645-3751.
Any disclaimers or other notices that may appear below are not applicable to this communication and should be disregarded. Such disclaimers and other notices were automatically generated as a result of this communication being sent via Bloomberg or another email system.
