Filed Pursuant to Rule 433

Registration No. 333-249475-02

 

A picture containing text, clipart Description automatically generated

 

Ameren Illinois Company

 

Pricing Term Sheet

 

May 23, 2023

 

Issue: 4.95% First Mortgage Bonds due 2033
   
Principal Amount: $500,000,000
   
Coupon (Interest Rate): 4.95% per annum
   
Maturity Date: June 1, 2033
   
Benchmark Treasury: 3.375% due May 15, 2033
   
Benchmark Treasury Price: 97–05
   
Benchmark Treasury Yield: 3.719%
   
Spread to Benchmark Treasury: +127 basis points
   
Re-offer Yield: 4.989%
   
Offering Price (Issue Price): 99.696% of the principal amount
   
Interest Payment Dates: June 1 and December 1, commencing December 1, 2023
   
Optional Redemption: Prior to March 1, 2033 (the “Par Call Date”) redeemable 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 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: May 23, 2023
   
Settlement Date: May 31, 2023 (T+5)**
   
CUSIP / ISIN: 02361D BA7 / US02361DBA72
   
Joint Book-Running Managers:

MUFG Securities Americas Inc.
PNC Capital Markets LLC
Scotia Capital (USA) Inc.
SMBC Nikko Securities America, Inc.
Truist Securities, Inc.
Fifth Third Securities, Inc.

   
Co-Managers:

BNY Mellon Capital Markets, LLC

CastleOak Securities, L.P.

Penserra Securities LLC

Stern Brothers & Co.

 

The term “Treasury Rate” has the meaning ascribed to that term in the Issuer’s Preliminary Prospectus Supplement, dated May 23, 2023.

 

 

*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 fifth 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 two business days, unless the parties to a trade expressly agree otherwise. Accordingly, purchasers who wish to trade the First Mortgage Bonds more than two business days 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+5, 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) MUFG Securities Americas Inc. toll-free at 1-877-649-6848, (ii) PNC Capital Markets LLC toll free at 1-855-881-0697, (iii) Scotia Capital (USA) Inc. toll-free at 1-800-372-3930, (iv) SMBC Nikko Securities America, Inc. toll-free at 1-888-868-6856 or (v) Truist Securities, Inc. toll-free at 1-800-685-4786.

 

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Ameren Illinois (PK) (USOTC:AILLP)
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