Final Term Sheet
Free Writing Prospectus
Filed Pursuant to Rule 433
Registration Statement No. 333-147958
NORTHERN STATES POWER COMPANY
(a Minnesota corporation)
$300,000,000
5.35% FIRST MORTGAGE BONDS, SERIES DUE NOVEMBER 1, 2039
Issuer: | Northern States Power Company (a Minnesota corporation) |
Issue Format: | SEC Registered |
Ratings* | A1/A/A+ (Stable/Positive/Stable) (Moody’s/Standard & Poor’s/Fitch) |
Note Type: | First Mortgage Bonds |
Total Principal Amount: | $300,000,000 |
Pricing Date: | November 9, 2009 |
Settlement Date: | November 17, 2009 |
Maturity Date: | November 1, 2039 |
Interest Payment Dates: | Each May 1 and November 1, commencing on May 1, 2010 |
Reference Benchmark: | 4.25% due May 15, 2039 |
Benchmark Price: | 97-26 |
Benchmark Yield: | 4.383% |
Re-offer Spread: | 98 bps |
Re-offer Yield: | 5.363% |
Coupon: | 5.35% semi-annual |
Re-offer/Issue Price to Public: | 99.81% |
Make-Whole Call: | T + 15 bps |
Minimum Denominations: | $1,000 |
Joint Bookrunners: | Barclays Capital Inc., KeyBanc Capital Markets Inc. and RBS Securities Inc. |
Co-Managers: | BNY Mellon Capital Markets, LLC and U.S. Bancorp Investments, Inc. |
* 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, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling (i) Barclays Capital Inc., toll free at 1-888-603-5847, (ii) KeyBanc Capital Markets Inc., at 1-866-227-6479, or (iii) RBS Securities Inc., at 1-866-884-2071.