Filed Pursuant to Rule 433
Dated March 4, 2024
Registration Statement No. 333-276062-02
WISCONSIN POWER AND LIGHT COMPANY
Final Term Sheet
Dated March 4, 2024
| Issuer: | Wisconsin Power and Light Company | |
| Security Type: | Debentures | |
| Principal Amount: | $300,000,000 | |
| Maturity Date: | March 30, 2034 | |
| Benchmark Treasury: | 4.00% due February 15, 2034 | |
| Benchmark Treasury Yield: | 4.219% | |
| Spread to Benchmark Treasury: | T+118 bps | |
| Yield to Maturity: | 5.399% | |
| Price to Public: | 99.810% of the principal amount | |
| Coupon: | 5.375% | |
| Interest Payment Dates: | March 30 and September 30, commencing September 30, 2024 | |
| Optional Redemption – Reinvestment Rate: | Prior to December 30, 2033 make-whole call at T+20 bps | |
| Optional Redemption at Par: | On or after December 30, 2033 | |
| Trade Date: | March 4, 2024 | |
| Settlement Date: | March 7, 2024 (T+3) | |
| CUSIP: | 976826 BS5 | |
| ISIN: | US976826BS59 | |
| Denominations / Multiples: | $2,000 x $1,000 | |
| Anticipated Ratings*: | Baa1 / A (Moody’s / S&P) | |
| Joint Book-Running Managers: | BofA Securities, Inc. Mizuho Securities USA LLC | |
| Co-Managers: | 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 March 7, 2024, which will be the third business day following the date of pricing of the Debentures. Under Rule 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 at 1-800-294-1322, Mizuho Securities USA LLC toll free at 1-866-271-7403, TD Securities (USA) LLC toll free at 1-855-495-9846 and Wells Fargo Securities, LLC toll free at 1-800-645-3751.
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.
