Issuer: Idaho Power Company Trade Date: September 6, 2023 Original Issue Date/Settlement Date: September 11, 2023, which is the third business day following the Trade Date, or “T+3.” Under Rule 15c6-1 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: $350,000,000 Original Interest Accrual Date: September 11, 2023 Price to Public: 99.076% of Principal Amount, plus accrued interest, if any, from the Original Issue Date Purchasers’ Discount: 0.875% Proceeds to the Company: 98.201% Interest Rate: 5.80% per annum Anticipated Ratings:* Standard & Poor’s Ratings Services: “A-” Moody’s Investors Service: “A2” Anticipated Use of Proceeds: To fund a portion of Idaho Power Company’s capital expenditures and for other general corporate purposes. | | Interest Payment Dates: April 1 and October 1, commencing April 1, 2024 Redemption: As specified in Pricing Supplement No. 2 dated September 6, 2023 Make-whole Call: Prior to October 1, 2053, the greater of • (a) the sum of the present values of the remaining scheduled payments of principal and interest thereon discounted to the redemption date (assuming the Notes matured on the Par Call Date) on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 25 basis points less (b) interest accrued to the date of redemption, and • 100% of the principal amount of the Notes to be redeemed, plus, in either case, accrued and unpaid interest thereon to the redemption date. Par Call: On or after October 1, 2053, 100% of the principal amount to be redeemed Maturity Date: April 1, 2054 CUSIP: 45138L BJ1 Purchasers: MUFG Securities Americas Inc. ($98,000,000) J.P. Morgan Securities LLC ($91,000,000) Wells Fargo Securities, LLC ($91,000,000) BofA Securities, Inc. ($35,000,000) U.S. Bancorp Investments, Inc. ($35,000,000) |
