Filed under Rule 433
File No. 333-180897-01
Final Term Sheet
January 7, 2014
Issuer: |
| Arizona Public Service Company |
Security: |
| $250,000,000 4.70% Notes due 2044 |
Maturity: |
| January 15, 2044 |
Interest rate: |
| 4.70% |
Yield to maturity: |
| 4.725% |
Spread: |
| +83 basis points |
Benchmark Treasury security: |
| 3.625% due August 15, 2043 |
Benchmark Treasury yield: |
| 3.895% |
Optional redemption: |
| Make-whole call at any time prior to July 15, 2043 at Treasury rate plus 15 basis points and, thereafter, at par |
Interest payment dates: |
| January 15 and July 15 |
First interest payment date: |
| July 15, 2014 |
Public offering price: |
| 99.600% per note |
Trade date: |
| January 7, 2014 |
Settlement date: |
| January 10, 2014 (T+3) |
Expected Ratings: |
| Baa1 / A- / A- (Moody’s / S&P / Fitch) |
|
| 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. |
Joint Book-Running Managers: |
| Citigroup Global Markets Inc. |
|
| Merrill Lynch, Pierce, Fenner & Smith |
|
| Incorporated |
|
| UBS Securities LLC |
|
| U.S. Bancorp Investments, Inc. |
Co-Managers: |
| Blaylock Robert Van, LLC |
|
| Drexel Hamilton, LLC |
|
| The Williams Capital Group, L.P. |
CUSIP/ISIN: |
| 040555 CP7 / US040555CP79 |
Arizona Public Service Company has filed a registration statement (including a prospectus, as supplemented) with the Securities and Exchange Commission (“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 Arizona Public Service Company has filed with the SEC for more complete information about Arizona Public Service Company and this offering. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, Arizona Public Service Company, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling Citigroup Global Markets Inc. toll-free at 1-800-831-9146, Merrill Lynch, Pierce, Fenner & Smith Incorporated toll-free at 1-800-294-
1322, UBS Securities LLC toll-free at 1-877-827-6444, ext. 561-3884 or U.S. Bancorp Investments, Inc. toll free at 1-877-558-2607.
Any disclaimers or other notices that may appear below are not applicable to this communication and should be disregarded. Such disclaimers were automatically generated as a result of this communication being sent via email or another communication system.
