Free Writing Prospectus
Filed pursuant to Rule 433
Registration No. 333-231118-01
September 10, 2019
The Connecticut Light and Power Company
doing business as Eversource Energy
Pricing Term Sheet
Issuer: |
| The Connecticut Light and Power Company doing business as Eversource Energy (the “Issuer”) |
Security: |
| $200,000,000 3.20% First and Refunding Mortgage Bonds, 2017 Series A, due 2027 (the “Bonds”), which will be part of the same series of debt securities issued on March 10, 2017 by the Issuer in the amount of $300,000,000 (the “Existing Bonds”). |
Principal Amount: |
| $200,000,000 (for an aggregate principal amount outstanding of $500,000,000, together with the Existing Bonds) |
Maturity Date: |
| March 15, 2027 |
Coupon: |
| 3.20% |
Benchmark Treasury: |
| 1.625% due August 15, 2029 |
Benchmark Treasury Price / Yield: |
| 99-12+/ 1.692% |
Spread to Benchmark Treasury: |
| 73 basis points |
Re-Offer Yield: |
| 2.422% |
Price to Public: |
| 105.143% of the principal amount plus accrued interest from September 15, 2019 |
Accrued Interest: |
| $35,555.56 |
Interest Payment Dates: |
| Semi-annually on March 15 and September 15 of each year, commencing on March 15, 2020. |
Optional Redemption Provisions: |
| Make-whole call at any time prior to December 15, 2026 (three 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: |
| September 10, 2019 |
Settlement Date*: |
| September 17, 2019 (T+5) |
Qualified Reopening: |
| The offering of the Bonds is expected to qualify as a “qualified reopening” of the Existing Bonds under the United States Treasury Regulations. See “Certain United States Federal Income Tax Consequences” in the Preliminary Prospectus Supplement dated September 10, 2019. |
CUSIP / ISIN: |
| 207597 EJ0 / US207597EJ05 |
Ratings**: |
| A1 (Moody’s); A+ (S&P); A+ (Fitch) |
Joint Book-Running Managers: |
| Mizuho Securities USA LLC |
|
| MUFG Securities Americas Inc. |
Co-Manager: |
| Samuel A. Ramirez & Company, Inc. |
* Pursuant to Rule 15c6-1 under the Securities Exchange Act of 1934, as amended, 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, purchasers who wish to trade bonds in the secondary market prior to the date that is two business days before the settlement date will be required, by virtue of the fact that the bonds initially will settle T+5 (on September 17, 2019) to specify an alternate settlement cycle at the time of any such trade to prevent a failed settlement. Purchasers of bonds who wish to trade bonds prior to the date that is two business days before the settlement date should consult their own advisors.
** 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 Mizuho Securities USA LLC toll-free at (866) 271-7403; or by calling MUFG Securities Americas Inc. toll-free at (877) 649-6848.