Free Writing Prospectus
Filed Pursuant to Rule 433
Registration StatementNo. 333-224333
XCEL ENERGY INC.
(a Minnesota corporation)
$600,000,000 3.40% SENIOR NOTES, SERIES DUE JUNE 1, 2030
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Issuer: | | Xcel Energy Inc. (a Minnesota corporation) |
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Issue Format: | | SEC Registered |
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Ratings*: | | Baa1/BBB+/BBB+ (Moody’s/Standard & Poor’s/Fitch) |
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Security Type: | | Senior Notes |
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Pricing Date: | | March 27, 2020 |
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Settlement Date: | | April 1, 2020 (T+3) |
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Principal Amount: | | $600,000,000 |
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Maturity Date: | | June 1, 2030 |
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Interest Payment Dates: | | Semi-annually on June 1 and December 1, beginning on December 1, 2020 |
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Reference Benchmark: | | 1.50% due February 15, 2030 |
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Benchmark Price: | | 107-08 |
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Benchmark Yield: | | 0.738% |
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Spread to Benchmark Treasury: | | +270 bps |
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Yield to Maturity: | | 3.438% |
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Coupon: | | 3.40% |
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Price to Public: | | 99.670% of the principal amount |
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Net Proceeds to Issuer: | | $594,120,000 (after underwriting discount but before transaction expenses) |
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Make-Whole Call: | | Prior to December 1, 2029 (the par call date), T+45 bps (calculated to the par call date) |
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Par Call: | | On or after December 1, 2029, at par |
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Minimum Denominations: | | $2,000 and integral multiples of $1,000 in excess thereof |
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CUSIP/ISIN: | | 98389BAY6 / US98389BAY65 |
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Joint Book-Running Managers: | | Barclays Capital Inc. BofA Securities, Inc. J.P. Morgan Securities LLC RBC Capital Markets, LLC |
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Co-Managers: | | Credit Suisse Securities (USA) LLC KeyBanc Capital Markets Inc. |
*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 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 website 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 Barclays Capital Inc. toll-free at1-888-603-5847, BofA Securities, Inc. toll-free at1-800-294-1322, J.P. Morgan Securities LLC collect at1-212-834-4533 or RBC Capital Markets, LLC toll-free at1-866-375-6829.
