Free Writing Prospectus
Filed Pursuant to Rule 433
Registration Statement No. 333-147958
NORTHERN STATES POWER COMPANY
(a Minnesota corporation)
$250,000,000 1.950% FIRST MORTGAGE BONDS, SERIES DUE AUGUST 15, 2015
$250,000,000 4.850% FIRST MORTGAGE BONDS, SERIES DUE AUGUST 15, 2040
Issuer: |
| Northern States Power Company (a Minnesota corporation) | ||
Issue Format: |
| SEC Registered | ||
Ratings*: |
| A1/A/A+ (Stable/Stable/Stable) (Moody’s/Standard & Poor’s/Fitch) | ||
Note Type: |
| First Mortgage Bonds | ||
Pricing Date: |
| August 4, 2010 | ||
Settlement Date: |
| August 11, 2010 | ||
Interest Payment Dates: |
| Each February 15 and August 15, commencing February 15, 2011 | ||
Principal Amount: |
| $250,000,000 | $250,000,000 | |
Maturity Date: |
| August 15, 2015 | August 15, 2040 | |
Reference Benchmark: |
| 1.750% due July 31, 2015 | 4.625% due February 15, 2040 | |
Benchmark Price: |
| 100–21 | 109–16+ | |
Benchmark Yield: |
| 1.612% | 4.068% | |
Re-offer Spread: |
| +38 bps | +80 bps | |
Re-offer Yield: |
| 1.992% | 4.868% | |
Coupon: |
| 1.950% | 4.850% | |
Issue Price to Public: |
| 99.801% | 99.717% | |
Make-Whole Call: |
| Prior to May 15, 2015, T+5 bps | Prior to February 15, 2040, T+10 bps | |
Par Call: |
| On or after May 15, 2015 | On or after February 15, 2040 | |
Minimum Denominations: |
| $1,000 |
| |
Joint Bookrunners: |
| BNY Mellon Capital Markets, LLC | ||
Co-Managers: |
| Mitsubishi UFJ Securities (USA), Inc. | ||
|
| 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 BNY Mellon Capital Markets, LLC, toll free at 1-800-269-6864, Citigroup Global Markets Inc., toll free at 1-877-858-5407 or RBS Securities Inc., toll free at 1-866-884-2071.