Form FWP - Filing under Securities Act Rules 163/433 of free writing prospectuses
June 17 2024 - 3:34PM
Edgar (US Regulatory)
Filed Pursuant to Rule 433
Registration No. 333-274977-01
Ameren Illinois Company
Pricing Term Sheet
June 17, 2024
| Issue: |
|
5.55% First
Mortgage Bonds due 2054 |
| Principal Amount: |
|
$625,000,000 |
| Coupon (Interest Rate): |
|
5.55% per annum |
| Maturity Date: |
|
July 1, 2054 |
| Benchmark Treasury: |
|
4.250% due February 15,
2054 |
| Benchmark Treasury Price: |
|
97-10 |
| Benchmark Treasury Yield: |
|
4.413% |
| Spread to Benchmark Treasury: |
|
+115 basis points |
| Re-offer Yield: |
|
5.563% |
| Offering Price (Issue
Price): |
|
99.810% of the principal
amount |
| Interest Payment Dates: |
|
January 1
and July 1, commencing January 1, 2025 |
| Optional Redemption: |
|
Prior
to January 1, 2054 (the “Par Call Date”) redeemable, in whole or in part, 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, in whole or in part, 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: |
|
June 17, 2024 |
| Settlement Date: |
|
June 27, 2024 (T+7)** |
| CUSIP / ISIN: |
|
02361D BB5 / US02361DBB55 |
| Joint Book-Running Managers: |
|
Barclays Capital Inc.
MUFG Securities Americas Inc.
Scotia Capital (USA) Inc.
TD Securities (USA) LLC
Wells Fargo Securities, LLC
Fifth Third Securities, Inc.
PNC Capital Markets LLC |
| Co-Managers: |
|
Blaylock Van, LLC
Cabrera Capital Markets LLC
CastleOak Securities, L.P.
Loop Capital Markets LLC |
The term “Treasury Rate” has the
meaning ascribed to that term in the Issuer’s Preliminary Prospectus Supplement, dated June 17, 2024.
| * | 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 seventh 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 one business day, unless the parties to a trade expressly agree
otherwise. Accordingly, purchasers who wish to trade the First Mortgage Bonds more than one
business day 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+7, 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 contacting (i) Barclays
Capital Inc. toll-free at 1-888-603-5847, (ii) MUFG Securities Americas Inc. toll-free at 1-877-649-6848, (iii) Scotia Capital
(USA) Inc. toll-free at 1-800-372-3930, (iv) TD Securities (USA) LLC toll-free at 1-855-495-9846 or (v) Wells Fargo Securities,
LLC toll-free at 1-800-645-3751.
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