Free Writing Prospectus - Filing Under Securities Act Rules 163/433 (fwp)

 

Filed pursuant to Rule 433(d)

Registration No. 333-249044

Dated May 15, 2023

 

FINAL TERM SHEET

 

Issuer:	PacifiCorp
Security Type:	First Mortgage Bonds due 2054
Legal Format:	SEC Registered
Principal Amount:	$1,200,000,000 in aggregate principal amount
Coupon:	5.500%
Interest Payment Dates:	Semi-annually on May 15 and November 15, commencing on November 15, 2023
Record Dates:	May 1 and November 1
Trade Date:	May 15, 2023
Settlement Date:	May 17, 2023 (T+2)
Maturity:	May  15, 2054
Treasury Benchmark:	3.625% due February 15, 2053
US Treasury Spot:	95-31+
US Treasury Yield:	3.853%
Spread to Treasury:	+165 basis points
Re-offer Yield:	5.503%
Price to Public (Issue Price):	99.956% of principal amount
Expected Ratings*:	A1 by Moody’s Investors Service, Inc.
	A+ by S&P Global Ratings
Optional Redemption:	Prior to November 15, 2053, Make Whole Call at T+25 basis points. On or after November 15, 2053, 100% of the principal amount plus accrued and unpaid interest
Denominations:	$2,000 and any integral multiples of $1,000 in excess thereof
Joint Book-Running Managers:	BMO Capital Markets Corp.
	PNC Capital Markets LLC
	SMBC Nikko Securities America, Inc.
	TD Securities (USA) LLC
	Wells Fargo Securities, LLC
	BofA Securities, Inc.

 

 

 

 

Co-Managers:	Scotia Capital (USA) Inc.
	nabSecurities, LLC
	Barclays Capital Inc.
	CIBC World Markets Corp.
	KeyBanc Capital Markets Inc.
	Truist Securities, Inc.
	BNY Mellon Capital Markets, LLC
	Mizuho Securities USA LLC
	RBC Capital Markets, LLC
	Siebert Williams Shank & Co., LLC
CUSIP / ISIN:	695114 DA3 / US695114DA39

 

*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 U.S. 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 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 Web site 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 BMO Capital Markets Corp. at 1-800-414-3627, PNC Capital Markets LLC at 855-881-0697, SMBC Nikko Securities America, Inc. at 1-888-868-6856, TD Securities (USA) LLC at 1-855-495-9846, or Wells Fargo Securities, LLC at 1-800-645-3751.