Form FWP - Filing under Securities Act Rules 163/433 of free writing prospectuses
27 February 2024 - 8:35AM
Edgar (US Regulatory)
Free Writing Prospectus
Filed Pursuant to Rule 433
Registration Statement No. 333-255446
XCEL ENERGY INC.
(a
Minnesota corporation)
$800,000,000 5.50% SENIOR NOTES, SERIES DUE MARCH 15, 2034
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| Issuer: |
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Xcel Energy Inc. (a Minnesota corporation) |
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| Issue Format: |
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SEC Registered |
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| Expected Ratings*: |
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Baa1/BBB+/BBB+ (Stable/Stable/Stable) (Moody’s/S&P/Fitch) |
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| Security Type: |
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Senior Notes |
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| Pricing Date: |
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February 26, 2024 |
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| Settlement Date: |
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February 29, 2024 (T+3) |
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| Principal Amount: |
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$800,000,000 |
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| Maturity Date: |
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March 15, 2034 |
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| Interest Payment Dates: |
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Semi-annually on March 15 and September 15, beginning on September 15, 2024 |
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| Reference Benchmark Treasury: |
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4.000% due February 15, 2034 |
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| Benchmark Treasury Price: |
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97-20 |
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| Benchmark Treasury Yield: |
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4.295% |
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| Spread to Benchmark Treasury: |
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+125 bps |
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| Yield to Maturity: |
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5.545% |
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| Coupon: |
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5.50% |
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| Price to the Public: |
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99.653% of the principal amount |
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| Net Proceeds to Issuer: |
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$792,024,000 (after deducting the underwriting discount but before transaction expenses) |
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| Make-Whole Call: |
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Prior to September 15, 2033 (the par call date), T+20 bps (calculated to the par call date) |
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| Par Call: |
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On or after September 15, 2033, at par |
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| CUSIP/ISIN: |
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98389B BB5 / US98389BBB53 |
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| Minimum Denominations: |
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$2,000 and integral multiples of $1,000 in excess thereof |
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| Joint Book-Running Managers: |
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Citigroup Global Markets Inc. PNC Capital
Markets LLC Wells Fargo Securities, LLC BNP Paribas
Securities Corp. |
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| Co-Managers: |
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Independence Point Securities LLC Penserra
Securities LLC |
| * |
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
Citigroup Global Markets Inc. toll-free at 1-800-831-9146, PNC Capital Markets LLC toll-free at 1-855-881-0697 or Wells Fargo Securities, LLC toll-free at 1-800-645-3751.
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