Free Writing Prospectus
Filed pursuant to Rule 433
Registration No. 333-165579-02
May 19, 2011
Public Service Company of New Hampshire
Pricing Term Sheet
Issuer: |
| Public Service Company of New Hampshire |
Security: |
| $122,000,000 4.05% First Mortgage Bonds, Series Q, due 2021 |
Maturity: |
| June 1, 2021 |
Coupon: |
| 4.05% |
Price to Public: |
| 99.739% of face amount |
Yield to Maturity: |
| 4.082% |
Spread to Benchmark Treasury: |
| +88 basis points |
Benchmark Treasury: |
| 3.125% due May 15, 2021 |
Benchmark Treasury Yield: |
| 3.202% |
Interest Payment Dates: |
| June 1 and December 1, commencing December 1, 2011 |
Redemption Provisions: |
| Make-whole call at any time prior to March 1, 2021 at a discount rate of Treasury plus 15 basis points and, thereafter at par |
Settlement: |
| May 26, 2011 |
|
| (T + 5) |
CUSIP: |
| 744482 BK5 |
Ratings: |
| A3 by Moody’s Investors Service |
|
| A- by Standard & Poor’s Ratings Services |
|
| A- by Fitch Ratings |
Joint Book-Running Managers: |
| Morgan Stanley & Co. Incorporated |
|
| UBS Securities LLC |
Co-Managers: |
| TD Securities (USA) LLC |
|
| The Williams Capital Group, L.P. |
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 Securities and Exchange Commission (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 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 if you request it by calling Morgan Stanley & Co. Incorporated toll-free at 1-866-718-1649 or UBS Securities LLC toll-free at 877-827-6444 ext. 561-3884.
