Free Writing Prospectus
Filed pursuant to Rule 433
Registration No. 333-264278-02
May 20, 2024
NSTAR Electric Company
doing business as Eversource Energy
Pricing Term Sheet
| Issuer: | NSTAR Electric Company doing business as Eversource Energy |
| Security: | $600,000,000 5.40% Debentures due 2034 |
| Principal Amount: | $600,000,000 |
| Maturity Date: | June 1, 2034 |
| Coupon: | 5.40% |
| Benchmark Treasury: | 4.375% due May 15, 2034 |
| Benchmark Treasury Price / Yield: | 99-15 + / 4.439% |
| Spread to Benchmark Treasury: | 98 basis points |
| Yield to Maturity: | 5.419% |
| Price to Public: | 99.853% of the principal amount |
| Interest Payment Dates: | Semi-annually on June 1 and December 1 of each year, commencing December 1, 2024 |
Redemption Provisions:
| Make-whole call at any time prior to March 1, 2034 (3 months prior to the Maturity Date) at a discount rate of Treasury plus 15 basis points and on or after such date at par |
| Trade Date: | May 20, 2024 |
| Settlement Date: | May 22, 2024 (T+2) |
| CUSIP / ISIN: | 67021CAV9 / US67021CAV90 |
| Expected Ratings*: | A2 (Moody’s); A (S&P); A (Fitch) |
| Joint Book-Running Managers: | BofA Securities, Inc. |
Mizuho Securities USA LLC PNC Capital Markets LLC RBC Capital Markets, LLC Wells Fargo Securities, LLC | |
| Co-Managers: | Samuel A. Ramirez & Company, Inc. Siebert Williams Shank & Co., LLC |
* 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, as supplemented) with the 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 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, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus (as supplemented) if you request it by calling BofA Securities, Inc. toll-free at (800) 294-1322; Mizuho Securities USA LLC toll-free at (866) 271-7403; PNC Capital Markets LLC toll-free at (855) 881-0697; RBC Capital Markets, LLC toll-free at (866) 375-6829; or Wells Fargo Securities, LLC toll-free at (800) 645-3751.