FWP 1 a17-22508_2fwp.htm FWP

 

Free Writing Prospectus

Filed pursuant to Rule 433

Registration No. 333-211062-03

 

October 2, 2017

 

NSTAR Electric Company

doing business as Eversource Energy

 

Pricing Term Sheet

 

Issuer:

 

NSTAR Electric Company doing business as Eversource Energy

Security:

 

3.20% Debentures due 2027 (the “Debentures”), which will be part of the same series of debt securities issued on May 15, 2017 by the Issuer in the amount of $350,000,000 (the “Existing Debentures”)

Principal Amount:

 

$350,000,000 (for an aggregate principal amount outstanding of $700,000,000, together with the Existing Debentures)

Maturity Date:

 

May 15, 2027

Coupon:

 

3.20%

Benchmark Treasury:

 

2.250% due August 15, 2027

Benchmark Treasury Price / Yield:

 

99-08 / 2.335%

Spread to Benchmark Treasury:

 

72 basis points

Yield to Maturity:

 

3.055%

Price to Public:

 

101.173% of the principal amount, plus accrued interest from May 15, 2017

Accrued Interest:

 

$4,355,555.56

Interest Payment Dates:

 

Semiannually on May 15 and November 15 of each year, commencing on November 15, 2017. The interest payment on November 15, 2017 will include accrued interest from May 15, 2017.

Redemption Provisions:

 

Make-whole call at any time prior to February 15, 2027 (three months prior to the Maturity Date) at a discount rate of Treasury plus 15 basis points and on or after such date at par

Trade Date:

 

October 2, 2017

Settlement Date*:

 

October 5, 2017 (T+3)

Qualified Reopening:

 

The offering of the Debentures is expected to qualify as a “qualified reopening” of the Existing Debentures under the United States Treasury Regulations. See “Certain United States Federal Income Tax Consequences” in the Preliminary Prospectus Supplement dated October 2, 2017.

CUSIP / ISIN:

 

67021C AM9 / US67021CAM91

 


 

Ratings**:

 

A2 (Moody’s); A (S&P); A+ (Fitch)

Global Coordinators:

 

Barclays Capital Inc.

Merrill Lynch, Pierce, Fenner & Smith

Incorporated

MUFG Securities Americas Inc.

Joint Book-Running Managers:

 

BNY Mellon Capital Markets, LLC

KeyBanc Capital Markets Inc.

RBC Capital Markets, LLC

Co-Managers:

 

Samuel A. Ramirez & Company, Inc.

The Williams Capital Group, L.P.

 

* Pursuant to 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 any such trade expressly agree otherwise.  Accordingly, purchasers who wish to trade debentures in the secondary market prior to the date that is two business days before the settlement date will be required, by virtue of the fact that the debentures initially will settle T+3 (on October 5, 2017) to specify an alternate settlement cycle at the time of any such trade to prevent a failed settlement.  Purchasers of debentures who wish to trade debentures prior to the date that is two business days before the settlement date should consult their own advisors.

 

** 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 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 Barclays Capital Inc. toll-free at (888) 603-5847; Merrill Lynch, Pierce, Fenner & Smith Incorporated toll-free at (800) 294-1322; or MUFG Securities Americas Inc. toll-free at (877) 649-6848.