Issuer: Idaho Power Company Trade Date: March 31, 2020 Original Issue Date/Settlement Date: April 3, 2020, which is the third business day following the Trade Date, or “T+3.” Under Rule15c6-1 under the Exchange Act, 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 the Notes on the date of pricing will be required, by virtue of the fact that the Notes initially settle in T+3, to specify an alternate settlement arrangement at the time of any such trade to prevent a failed settlement. Principal Amount: $230,000,000 Original Interest Accrual Date: March 1, 2020 Price to Public: 113.763% of Principal Amount1 Purchasers’ Discount: 0.750% Proceeds to the Company: 113.013%1 Interest Rate: 4.20% per annum Anticipated Ratings:* Standard & Poor’s Ratings Services:“A-” Moody’s Investors Service: “A1” Anticipated Use of Proceeds: To pay at or prior to maturity $100 million of Idaho Power Company’s 3.40% First Mortgage Bonds due November 2020 and to fund a portion of Idaho Power Company’s capital requirements, or for other general corporate purposes. | | Interest Payment Dates: March 1 and September 1, commencing September 1, 2020 Redemption: As specified in Pricing Supplement No. 1 dated March 31, 2020 Make-whole Call: Prior to September 1, 2047, the greater of (i) 100% of the principal amount to be redeemed and (ii) an amount to be determined using a discount rate equal to the Treasury Rate plus 20 basis points Par Call: On or after September 1, 2047, 100% of the principal amount to be redeemed Maturity Date: March 1, 2048 CUSIP: 45138LBF9 Qualified Reopening: The Notes will form part of Idaho Power Company’s 4.20% First Mortgage Bonds due 2048 and, other than the Original Issue Date, Original Interest Accrual Date and Price to Public, will have the same terms as, with the same CUSIP number as, and will be fungible with, the other first mortgage bonds of this series issued by Idaho Power Company on March 16, 2018. After giving effect to this offering, the aggregate principal amount of the outstanding first mortgage bonds of this series will be $450 million. Purchasers: J.P. Morgan Securities LLC ($55,200,000) Wells Fargo Securities, LLC ($59,800,000) KeyBanc Capital Markets Inc. ($34,500,000) MUFG Securities Americas Inc. ($34,500,000) U.S. Bancorp Investments, Inc. ($34,500,000) BofA Securities, Inc. ($11,500,000) |
