Free Writing Prospectus - Filing Under Securities Act Rules 163/433 (fwp)
November 16 2017 - 04:10PM
Edgar (US Regulatory)
Issuer Free Writing Prospectus
Filed pursuant to Rule 433
Registration Statement
No. 333-221502
November 16, 2017
Avangrid, Inc.
$600,000,000 3.150% Notes Due December 1, 2024
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Pricing Term Sheet
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Issuer:
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Avangrid, Inc.
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Issue of Securities:
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3.150% Notes Due 2024
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Type:
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SEC-Registered
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Ratings*:
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Baa1/BBB/BBB+ (Moodys/S&P/Fitch)
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Trade Date:
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November 16, 2017
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Settlement Date:
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November 21, 2017 (T+3)
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Principal Amount:
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$600,000,000
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Maturity Date:
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December 1, 2024
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Benchmark Treasury:
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2.250% due October 31, 2024
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Benchmark Treasury Price / Yield:
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100-02+
/ 2.238%
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Spread to Benchmark Treasury:
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+95 basis points
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Yield to Maturity:
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3.188%
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Coupon:
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3.150%
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Price to Public:
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99.762% of the Principal Amount
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Redemption Provisions:
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Make-whole call at any time prior to October 1, 2024
(the Par Call Date) at Treasury Rate +15 basis points
(calculated to the Par Call Date).
Callable on or after the Par Call Date at par.
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Interest Payment Dates:
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Semi-annually on June 1 and December 1, beginning June 1, 2018.
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CUSIP/ISIN:
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05351W AA1 / US05351WAA18
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Joint Book-Running Managers:
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Citigroup Global Markets Inc.
BBVA Securities Inc.
BNP Paribas Securities Corp.
Wells Fargo Securities, LLC
Deutsche Bank Securities Inc.
Drexel Hamilton LLC
The Williams Capital Group, L.P.
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*Security ratings are not recommendations to buy, sell or hold securities. The ratings are subject to change or withdrawal at
any time by the respective credit rating agencies.
The issuer has filed an automatic shelf registration statement (including a prospectus) with the
Securities and Exchange Commission (SEC) on November 13, 2017, which became effective upon filing, relating to the offering to which this communication relates. Before you invest, you should read the registration statement,
prospectus, preliminary prospectus supplement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may obtain these documents for free by visiting EDGAR on the SEC website at
www.sec.gov. Alternatively, copies of the prospectus and accompanying prospectus supplement, when available, may be obtained from Citigroup Global Markets Inc. toll-free at
1-800-831-9146,
BBVA Securities Inc. toll-free at
1-800-422-8692,
BNP Paribas
Securities Corp. toll-free at
1-800-854-5674
or Wells Fargo Securities, LLC toll-free at
1-800-645-3751.
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