Form FWP - Filing under Securities Act Rules 163/433 of free writing prospectuses
05 Juni 2024 - 10:14PM
Edgar (US Regulatory)
Filed under Rule 433
File
No. 333-277448
Final Term Sheet
Pinnacle West Capital Corporation
$350,000,000 Floating Rate Senior Notes due
2026
June 5, 2024
| Issuer: |
| Pinnacle West Capital Corporation |
| |
| |
| Expected Ratings (Moody’s / S&P / Fitch): |
| Baa2
(Stable) / BBB (Stable) / BBB (Stable) 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. |
| |
| |
| Trade Date: |
| June 5, 2024 |
| |
| |
| Settlement Date: |
| June 10, 2024 (T+3) |
| |
| |
| Security: |
| Floating Rate Senior Notes due 2026 |
| |
| |
| Principal Amount: |
| $350,000,000 |
| |
| |
| Maturity Date: |
| June 10, 2026 |
| |
| |
| Public Offering Price: |
| 100% of the principal
amount, plus accrued interest, if any, from June 10, 2024 to date of delivery |
| |
| |
| Underwriting
Discount: | |
0.225% |
| | |
|
| Net
Proceeds to Issuer (before expenses): | |
$349,212,500 |
| | |
|
| Interest
Rate: | |
Compounded
SOFR (as defined in the preliminary prospectus supplement to which this offering relates) plus the Margin |
| | |
|
| Margin: | |
+82
basis points (the “Margin”) |
| | |
|
| Interest
Payment Dates: | |
Quarterly
in arrears on March 10, June 10, September 10 and December 10 of each year, commencing on September 10,
2024 |
| | |
|
| Day
Count / Business Day Convention: | |
Actual/360;
Modified Following, unadjusted |
| | |
|
| Minimum
Denominations: | |
$2,000
and integral multiples of $1,000 in excess thereof |
| | |
|
| CUSIP
/ ISIN: | |
723484
AL5 / US723484AL56 |
| | |
|
| Sole
Book-Running Manager: | |
Truist
Securities, Inc. |
Pinnacle West Capital Corporation 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
Pinnacle West Capital Corporation has filed with the SEC for more complete information about Pinnacle West Capital Corporation and this
offering. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, Pinnacle West Capital
Corporation and the underwriter participating in the offering will arrange to send you the prospectus if you request it by calling Truist
Securities, Inc. toll free at (800) 685-4786.
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.
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