05/06/2024 | Press release | Distributed by Public on 05/06/2024 06:57
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Per Note
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Total
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Initial public offering price(1)
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Underwriting discount
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Proceeds, before expenses, to Arizona Public Service Company
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MUFG
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PNC Capital Markets LLC
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Mizuho
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TD Securities
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US Bancorp
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Page
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Prospectus Supplement
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About This Prospectus Supplement
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Prospectus Supplement Summary
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| | | | S-1 | | |
Risk Factors
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| | | | S-5 | | |
Forward-Looking Statements
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| | | | S-5 | | |
Where You Can Find More Information
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| | | | S-5 | | |
Use Of Proceeds
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| | | | S-7 | | |
Description Of The Notes
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| | | | S-8 | | |
Certain Material United States Federal Income Tax Consequences
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| | | | S-13 | | |
Underwriting
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| | | | S-17 | | |
Legal Opinions
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| | | | S-22 | | |
Experts
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| | | | S-22 | | |
Prospectus
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Risk Factors
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| | | | 1 | | |
About This Prospectus
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| | | | 2 | | |
Forward-Looking Statements
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| | | | 2 | | |
Where You Can Find More Information
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| | | | 2 | | |
The Companies
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| | | | 4 | | |
Use of Proceeds
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| | | | 4 | | |
General Description of the Securities
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| | | | 4 | | |
Description of Pinnacle West Unsecured Debt Securities
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| | | | 5 | | |
Description of Pinnacle West Preferred Stock
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| | | | 13 | | |
Description of Pinnacle West Common Stock
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| | | | 16 | | |
Description of Pinnacle West Stock Purchase Contracts and Stock Purchase Units
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| | | | 20 | | |
Description of APS Unsecured Debt Securities
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| | | | 20 | | |
Experts
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| | | | 27 | | |
Legal Opinions
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| | | | 27 | | |
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Three Months Ended
March 31, |
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Year Ended December 31,
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(All dollar figures in thousands, except footnotes)
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2024
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2023
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2023
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2022
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2021
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Operating Revenues
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| | | $ | 951,712 | | | | | $ | 944,955 | | | | | $ | 4,695,991 | | | | | $ | 4,324,385 | | | | | $ | 3,803,835 | | |
Net Income Attributable to Common Shareholder
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| | | $ | 15,117 | | | | | $ | 10,660 | | | | | $ | 547,337 | | | | | $ | 524,929 | | | | | $ | 632,279 | | |
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As of March 31, 2024
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Actual
(in thousands) |
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% of Actual
Capitalization(1) |
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As Adjusted(2)
(in thousands) |
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% of As
Adjusted Capitalization(1) |
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Capitalization: | | | | | | | | | | | | | | | | | | | | | | | | | |
Long-Term Debt Less Current Maturities(3)
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| | | $ | 7,042,930 | | | | | | 45.7% | | | | | $ | | | | | | % | | | |
Current Maturities of Long-Term Debt(3)
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| | | | 250,000 | | | | | | 1.6% | | | | | $ | | | | | | % | | | |
Short-Term Borrowings
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| | | | 733,500 | | | | | | 4.8% | | | | | $ | | | | | | % | | | |
Total Equity(4)
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| | | $ | 7,369,047 | | | | | | 47.9% | | | | | $ | | | | | | % | | | |
Total Capitalization
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| | | $ | 15,395,477 | | | | | | 100.0% | | | | | $ | | | | | | 100.0% | | |
Underwriters
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Principal Amount
of Notes |
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MUFG Securities Americas Inc.
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PNC Capital Markets LLC
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Mizuho Securities USA LLC
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TD Securities (USA) LLC
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U.S. Bancorp Investments, Inc.
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Total
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Paid by Arizona Public
Service Company |
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Per Note
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| | | | % | | |
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Page
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Risk Factors
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| | | | 1 | | |
About This Prospectus
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| | | | 2 | | |
Forward-Looking Statements
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| | | | 2 | | |
Where You Can Find More Information
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| | | | 2 | | |
The Companies
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| | | | 4 | | |
Use of Proceeds
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| | | | 4 | | |
General Description of the Securities
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| | | | 4 | | |
Description of Pinnacle West Unsecured Debt Securities
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| | | | 5 | | |
Description of Pinnacle West Preferred Stock
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| | | | 13 | | |
Description of Pinnacle West Common Stock
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| | | | 16 | | |
Description of Pinnacle West Stock Purchase Contracts and Stock Purchase Units
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| | | | 20 | | |
Description of APS Unsecured Debt Securities
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| | | | 20 | | |
Experts
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| | | | 27 | | |
Legal Opinions
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| | | | 27 | | |
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Pinnacle West Capital Corporation Office of the Corporate Secretary Station 8602 P.O. Box 53999 Phoenix, Arizona 85072-3999 (602) 250-3011 |
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Arizona Public Service Company Office of the Corporate Secretary Station 8602 P.O. Box 53999 Phoenix, Arizona 85072-3999 (602) 250-3011 |
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| Or online at www.pinnaclewest.com. | | | | |