Filed under Rule 433
File No. 333-153353
Final Term Sheet
September 20, 2010
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| Issuer: | | CMS Energy Corporation |
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| Security: | | 4.25% Senior Notes due 2015 |
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| Aggregate Principal Amount Offered: | | $250,000,000 |
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| Maturity: | | September 30, 2015 |
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| Annual Interest Rate: | | 4.25% |
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| Yield to Maturity: | | 4.274% |
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| Spread to Treasury: | | 285 basis points |
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| Benchmark Treasury Security: | | 1.25% due August 31, 2015 |
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| Benchmark Treasury Yield: | | 1.424% |
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| Interest Payment Dates: | | March 30 and September 30 |
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| First Interest Payment Date: | | March 30, 2011 |
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| Public Offering Price: | | 99.892% |
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| Optional Redemption: | | Make-whole call at any time at Treasury rate plus 50 basis points |
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| Trade Date: | | September 20, 2010 |
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| Settlement Date: | | September 23, 2010 (T+3) |
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| Ratings: | | Ba1 / BB+ / BB+ (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 |
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| Joint Book-Running Managers: | | J.P. Morgan Securities LLC
Banc of America Securities LLC
Barclays Capital Inc.
Citigroup Global Markets Inc.
Deutsche Bank Securities Inc. |
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| Co-Managers: | | KeyBanc Capital Markets Inc.
SunTrust Robinson Humphrey, Inc. |
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| CUSIP/ISIN: | | 125896BF6 / US125896BF61 |
CMS Energy Corporation 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 CMS Energy Corporation has filed with the SEC for more complete information about CMS Energy Corporation and this offering. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, CMS Energy Corporation, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling J.P. Morgan Securities LLC collect at (212) 834-4533, Banc of America Securities LLC toll-free at(800) 294-1322, Barclays Capital Inc. toll-free at(888) 603-5847, Citigroup Global Markets Inc. toll-free at(877) 858-5407 and Deutsche Bank Securities Inc. toll-free at(800) 503-4611.
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.
