# EDGAR Filing Document

**Accession Number:** 0000081018
**File Stem:** 0001193125-23-080523
**Filing Date:** 2023-3
**Character Count:** 4311
**Document Hash:** 215f4705ef49c26e6bbfdcad8f833834
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-23-080523.hdr.sgml**: 20230327

**ACCESSION NUMBER**: 0001193125-23-080523

**CONFORMED SUBMISSION TYPE**: FWP

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20230327

**DATE AS OF CHANGE**: 20230327

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PUBLIC SERVICE CO OF COLORADO
- **CENTRAL INDEX KEY:** 0000081018
- **STANDARD INDUSTRIAL CLASSIFICATION:** ELECTRIC & OTHER SERVICES COMBINED [4931]
- **IRS NUMBER:** 840296600
- **STATE OF INCORPORATION:** CO
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** FWP
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 333-255446-02
- **FILM NUMBER:** 23764992

**BUSINESS ADDRESS:**
- **STREET 1:** 1800 LARIMER STREET
- **CITY:** DENVER
- **STATE:** CO
- **ZIP:** 80202
- **BUSINESS PHONE:** 3035717511

**MAIL ADDRESS:**
- **STREET 1:** P O BOX 840 STE 300
- **CITY:** DENVER
- **STATE:** CO
- **ZIP:** 80201
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PUBLIC SERVICE CO OF COLORADO
- **CENTRAL INDEX KEY:** 0000081018
- **STANDARD INDUSTRIAL CLASSIFICATION:** ELECTRIC & OTHER SERVICES COMBINED [4931]
- **IRS NUMBER:** 840296600
- **STATE OF INCORPORATION:** CO
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** FWP

**BUSINESS ADDRESS:**
- **STREET 1:** 1800 LARIMER STREET
- **CITY:** DENVER
- **STATE:** CO
- **ZIP:** 80202
- **BUSINESS PHONE:** 3035717511

**MAIL ADDRESS:**
- **STREET 1:** P O BOX 840 STE 300
- **CITY:** DENVER
- **STATE:** CO
- **ZIP:** 80201

Free Writing Prospectus

Filed Pursuant to Rule 433

Registration Statement No. 333-255446-02

**PUBLIC SERVICE COMPANY OF COLORADO** 

**(a Colorado corporation)** 

**$850,000,000 5.25% FIRST MORTGAGE BONDS, SERIES NO. 40 DUE 2053** 

---

| | |
|:---|:---|
| Issuer: | Public Service Company of Colorado (a Colorado corporation) |
| Issue Format: | SEC Registered |
| Expected Ratings\*: | A1/A/A+ (Stable/Stable/Stable) (Moody's/S&P/Fitch) |
| Security Type: | First Mortgage Bonds |
| Pricing Date: | March 27, 2023 |
| Settlement Date: | April 3, 2023 (T+5) |
| Principal Amount: | $850000000 |
| Maturity Date: | April 1, 2053 |
| Interest Payment Dates: | Semi-annually on April 1 and October 1, commencing on October 1, 2023 |
| Reference Benchmark Treasury: | 4.000% due November 15, 2052 |
| Benchmark Treasury Price: | 104-16 |
| Benchmark Treasury Yield: | 3.747% |
| Spread to Benchmark Treasury: | +155 bps |
| Yield to Maturity: | 5.297% |
| Coupon: | 5.25% |
| Price to the Public: | 99.298% of the principal amount |
| Net Proceeds to Issuer: | $836,595,500 (after deducting the underwriting discount but before transaction expenses) |
| Make-Whole Call: | Prior to October 1, 2052 (the par call date), T+25 bps (calculated to the par call date) |
| Par Call: | On or after October 1, 2052, at par |
| CUSIP/ISIN: | 744448 CY5 / US744448CY50 |
| Minimum Denominations: | $2,000 and integral multiples of $1,000 in excess thereof |
| Joint Book-Running Managers: | Goldman Sachs & Co. LLC<br> J.P. Morgan Securities LLC<br> Morgan Stanley & Co. LLC<br> MUFG Securities Americas Inc.<br> TD Securities (USA) LLC<br> BNP Paribas Securities Corp.<br> Scotia Capital (USA) Inc. |
| Co-Managers: | PNC Capital Markets LLC<br> Siebert Williams Shank & Co., 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 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 website at www.sec.gov. Alternatively, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling Goldman Sachs & Co. LLC toll-free at 1-866-471-2526, J.P. Morgan Securities LLC collect at 1-212-834-4533, Morgan Stanley & Co. LLC toll-free at 1-866-718-1649, MUFG Securities Americas Inc. toll-free at 1-877-649-6848 or TD Securities (USA) LLC toll-free at 1-855-495-9846.**