Free Writing Prospectus - Filing Under Securities Act Rules 163/433 (fwp)
June 18 2019 - 5:10PM
Edgar (US Regulatory)
Issuer Free Writing Prospectus
Filed Pursuant to Rule 433
Registration
Statement No. 333-226381
$600,000,000
5.75% Senior Notes Due 2027
SUMMARY OF TERMS
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Security:
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5.75% Senior Notes Due 2027
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Issuer:
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Edison International (EIX)
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Principal Amount:
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$600,000,000
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Expected Ratings of Securities*:
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Baa3 /
BBB-
/
BBB-
(Negative Outlook / Negative Watch / Negative Watch) (Moody’s / S&P / Fitch)
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Trade Date:
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June 18, 2019
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Settlement Date**:
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June 21, 2019 (T+3)
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Maturity Date:
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June 15, 2027
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Benchmark US Treasury:
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2.375% due May 15, 2029
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Benchmark US Treasury Price:
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102-25
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Benchmark US Treasury Yield:
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2.063%
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Spread to Benchmark US Treasury:
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T + 368.7 basis points
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Reoffer Yield:
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5.75%
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Coupon:
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5.75% per annum
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Coupon Payment Dates:
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June 15 and December 15
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First Coupon Payment Date:
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December 15, 2019 (short first coupon)
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Public Offering Price:
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100.000% of Principal Amount
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Optional Redemption:
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Callable at any time prior to April 15, 2027, in whole or in part, at a “make whole” premium of T + 50 basis points. At any time on or after April 15, 2027, callable, in whole or in part, at 100% of the
principal amount of the notes being redeemed plus accrued and unpaid interest to but excluding the date of redemption.
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CUSIP/ISIN:
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281020 AN7 / US281020AN70
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Joint Book-Running Managers:
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Citigroup Global Markets Inc. (“Citigroup”)
Mizuho Securities USA LLC (“Mizuho”)
Morgan
Stanley & Co. LLC (“Morgan Stanley”)
RBC Capital Markets, LLC (“RBC”)
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Co-Managers:
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SMBC Nikko Securities America, Inc.
Academy
Securities, Inc.
Loop Capital Markets LLC
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*
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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.
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**
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Under Rule
15c6-1
of 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 the notes on the Trade Date will be required, by
virtue of the fact that the notes initially will not settle in T+2, to specify an alternative settlement cycle at the time of any such trade to prevent a failed settlement and should consult their own advisor.
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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 Citigroup at
1-800-831-9146,
Mizuho at
1-866-271-7403,
Morgan
Stanley at
1-866-718-1649
or RBC at
1-866-375-6829.
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