Filed Pursuant to Rule 433

Registration No. 333-249475-02

 

 

Ameren Illinois Company

 

Pricing Term Sheet

 

August 15, 2022

 

Issuer:   Ameren Illinois Company
     
Issue:   3.85% First Mortgage Bonds due 2032
     
Principal Amount:   $500,000,000
     
Coupon (Interest Rate):   3.85% per annum
     
Maturity Date:   September 1, 2032
     
Benchmark Treasury:   2.750% due August 15, 2032
     
Benchmark Treasury Price:   99–20+
     
Benchmark Treasury Yield:   2.791%
     
Spread to Benchmark Treasury:   +108 basis points
     
Re-offer Yield:   3.871%
     
Offering Price (Issue Price):   99.827% of the principal amount
     
Interest Payment Dates:   March 1 and September 1, commencing March 1, 2023
     
Optional Redemption:   Prior to June 1, 2032 (the “Par Call Date”) redeemable at any time at a redemption price equal to the greater of (1)(a) the sum of the present values of the remaining scheduled payments of principal and interest thereon discounted to the redemption date (assuming the First Mortgage Bonds to be redeemed matured on the Par Call Date) on a semi-annual basis at the Treasury Rate plus 20 basis points less (b) interest accrued to the redemption date, and (2) 100% of the principal amount of the First Mortgage Bonds to be redeemed, plus, in either case, accrued and unpaid interest thereon to the redemption date.  On or after the Par Call Date, redeemable at any time at a redemption price equal to 100% of the principal amount of the First Mortgage Bonds being redeemed plus accrued and unpaid interest thereon to the redemption date.

 

 

 

 

Expected Ratings (Moody’s/S&P)*:   A1 (Stable) / A (Stable)
     
Trade Date:   August 15, 2022
     
Settlement Date:   August 29, 2022 (T+10)**
     
CUSIP / ISIN:   02361D AY6 / US02361DAY67
     
Joint Book-Running Managers:  

BNY Mellon Capital Markets, LLC

Mizuho Securities USA LLC

Morgan Stanley & Co. LLC

Truist Securities, Inc.

Wells Fargo Securities, LLC

     
Co-Managers:  

CastleOak Securities, L.P.

Penserra Securities LLC

R. Seelaus & Co., LLC

Siebert Williams Shank & Co., LLC

 

The term “Treasury Rate” has the meaning ascribed to that term in the Issuer’s Preliminary Prospectus Supplement, dated August 15, 2022.

 

 

*A security rating is not a recommendation to buy, sell or hold securities and should be evaluated independently of any other rating. The rating is subject to revision or withdrawal at any time by the assigning rating organization.

 

**It is expected that delivery of the First Mortgage Bonds will be made against payment therefor on or about the Settlement Date specified above, which will be the tenth business day following the date hereof. Under Rule 15c6-1 under the Securities Exchange Act of 1934, as amended, trades in the secondary market generally are required to settle in two business days, unless the parties to a trade expressly agree otherwise. Accordingly, purchasers who wish to trade the First Mortgage Bonds more than two business days prior to the scheduled settlement date will be required, by virtue of the fact that the First Mortgage Bonds initially are expected to settle in T+10, to specify an alternative settlement arrangement at the time of any such trade to prevent a failed settlement.

 

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’s 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 BNY Mellon Capital Markets, LLC toll-free at 1-800-269-6864, Mizuho Securities USA LLC toll-free at 1-866-271-7403, Morgan Stanley & Co. LLC toll-free at 1-866-718-1649, Truist Securities, Inc. toll-free at 1-800-685-4786 or Wells Fargo Securities, LLC toll-free at 1-800-645-3751.

 

 

 

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