FWP 1 a21-9733_3fwp.htm FWP

 

Free Writing Prospectus

Filed Pursuant to Rule 433

Registration Statement No. 333-253047

 

PRICING TERM SHEET

 

NorthWestern Corporation

 

Pricing Term Sheet

$100,000,000 1.00% First Mortgage Bonds due 2024

 

Issuer:

NorthWestern Corporation d/b/a NorthWestern Energy

Expected Ratings (Moody’s / S&P)*:

A3 (negative) / A- (stable)

Pricing Date:

March 19, 2021

Settlement Date:

March 26, 2021 (T+5)

Security Type:

First Mortgage Bonds

Maturity Date:

March 26, 2024

Interest Payment Dates:

March 26 and September 26, beginning September 26, 2021

Principal Amount:

$100,000,000

Benchmark Treasury:

0.250% due March 15, 2024

Benchmark Treasury Price / Yield:

99 — 24+/ 0.329%

Spread to Benchmark Treasury:

+70 bps

Yield to Maturity:

1.029%

Coupon:

1.00%

Price to the Public:

99.915% of the principal amount

Optional Redemption:

On or after March 26, 2022 at par.

CUSIP / ISIN:

668074 AV9 / US668074AV99

Joint Book-Running Managers:

KeyBanc Capital Markets Inc.

 

RBC Capital Markets, 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 preliminary prospectus supplement and a prospectus) and a prospectus supplement with the U.S. Securities and Exchange Commission (SEC) for the offering to which this communication relates.  Before you invest, you should read the prospectus supplement for this offering, the issuer’s prospectus in that registration statement and any 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 searching the SEC online data base (EDGAR) on the SEC web site at http://www.sec.gov.  Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus by calling KeyBanc Capital Markets Inc. toll-free at 1-866-227-6479 or RBC Capital Markets, LLC toll-free at 1-866-375-6829.