# EDGAR Filing Document

**Accession Number:** 0000007286
**File Stem:** 0001104659-26-025764
**Filing Date:** 2026-3
**Character Count:** 4330
**Document Hash:** d1c17432670225b8642e02c697b3d419
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-26-025764.hdr.sgml**: 20260310

**ACCESSION NUMBER**: 0001104659-26-025764

**CONFORMED SUBMISSION TYPE**: FWP

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20260310

**DATE AS OF CHANGE**: 20260310

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ARIZONA PUBLIC SERVICE CO
- **CENTRAL INDEX KEY:** 0000007286
- **STANDARD INDUSTRIAL CLASSIFICATION:** ELECTRIC & OTHER SERVICES COMBINED [4931]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 860011170
- **STATE OF INCORPORATION:** AZ
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** FWP
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 333-277448-01
- **FILM NUMBER:** 26738720

**BUSINESS ADDRESS:**
- **STREET 1:** 400 NORTH FIFTH STREET
- **CITY:** PHOENIX
- **STATE:** AZ
- **ZIP:** 85004
- **BUSINESS PHONE:** 602 250 1000

**MAIL ADDRESS:**
- **STREET 1:** P O BOX 53999
- **CITY:** PHOENIX
- **STATE:** AZ
- **ZIP:** 85072-3999
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ARIZONA PUBLIC SERVICE CO
- **CENTRAL INDEX KEY:** 0000007286
- **STANDARD INDUSTRIAL CLASSIFICATION:** ELECTRIC & OTHER SERVICES COMBINED [4931]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 860011170
- **STATE OF INCORPORATION:** AZ
- **FISCAL YEAR END:** 1231

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

**BUSINESS ADDRESS:**
- **STREET 1:** 400 NORTH FIFTH STREET
- **CITY:** PHOENIX
- **STATE:** AZ
- **ZIP:** 85004
- **BUSINESS PHONE:** 602 250 1000

**MAIL ADDRESS:**
- **STREET 1:** P O BOX 53999
- **CITY:** PHOENIX
- **STATE:** AZ
- **ZIP:** 85072-3999

**Filed under Rule 433**

**File No. 333-277448-01**

**Final Term Sheet**

**Arizona Public Service Company**

**$600,000,000 5.10% Notes due 2036**

**March 10, 2026**

---

| | |
|:---|:---|
| Issuer: | Arizona Public Service Company |
| Expected Ratings (Moody's / S&P / Fitch): | Baa1 (stable) / BBB+ (stable) / A- (stable)<br> **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. |
| Trade Date: | March 10, 2026 |
| Settlement Date: | March 12, 2026 (T+2) |
| Security: | 5.10% Notes due 2036 |
| Principal Amount: | $600000000 |
| Interest Payment Dates: | March 15 and September 15, commencing September 15, 2026 |
| Maturity Date: | March 15, 2036 |
| Interest Rate: | 5.10% |
| Benchmark Treasury: | 4.125% due February 15, 2036 |
| Benchmark Treasury Price / Yield: | 99-31+ / 4.127% |
| Spread to Benchmark Treasury: | +100 basis points |
| Yield to Maturity: | 5.127% |
| Public Offering Price: | 99.790% |
| Optional Redemption: | Make-whole call at any time prior to December 15, 2035 at Treasury rate plus 15 basis points and, thereafter, at par |
| CUSIP/ISIN: | 040555 DK7 / US040555DK73 |
| Joint Book-Running Managers: | BofA Securities, Inc.<br> J.P. Morgan Securities LLC<br> Mizuho Securities USA LLC<br> RBC Capital Markets, LLC<br> Scotia Capital (USA) Inc. |

---

**Arizona Public Service Company has filed a registration statement (including a prospectus, as supplemented) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus (as supplemented) in that registration statement and other documents Arizona Public Service Company has filed with the SEC for more complete information about Arizona Public Service Company and this offering. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, Arizona Public Service Company, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling BofA Securities, Inc. toll-free at (800) 294-1322 or by email at dg.prospectus_requests@bofa.com, J.P. Morgan Securities LLC collect at (212) 834-4533, Mizuho Securities USA LLC toll-free at (866) 271-7403**, **RBC Capital Markets, LLC toll-free at (866) 375-6829 or Scotia Capital (USA) Inc. toll-free at (800) 372-3930.**

Any disclaimers or other notices that may appear below are not applicable to this communication and should be disregarded. Such disclaimers were automatically generated as a result of this communication being sent via email or another communication system.