Issuer: | PPL Capital Funding, Inc. |
|
Guarantor | PPL Corporation |
|
Junior Subordinated Notes: | ||
Title: |
2007 Series A Junior Subordinated Notes due 2067 |
|
Legal Format: |
SEC Registered |
|
Principal Amount: |
$500,000,000 |
|
Date of Maturity: |
March 30, 2067 |
|
Interest Rate During Fixed Rate Period: |
From
Settlement Date to March 30, 2017, at the annual rate of 6.700%, payable
semi-annually in arrears on March 30 and September 30 of each year, beginning on
September 30, 2007 |
|
Interest Rate During Floating Rate Period: |
From March 30, 2017 to maturity at a floating rate based on the 3-month LIBOR Rate
plus 266.5 basis points, reset quarterly, payable quarterly in arrears on March 30,
June 30, September 30 and December 30 of each year, beginning June 30, 2017. |
|
Optional Deferral: |
Maximum of 10 consecutive years per deferral |
|
Price to Public: |
99.766% of the principal amount thereof |
|
Treasury Benchmark: |
4.625% due February 15, 2017 |
|
Benchmark Yield: |
4.532% |
|
Spread to Benchmark Treasury: |
+220 basis points |
|
Reoffer Yield: |
6.732% |
|
Trade Date: |
March 16, 2007 |
|
Settlement Date: |
March 20,
2007 (T + 2) |
|
Make-Whole Call: |
At any time prior to March 30, 2017 at 100% plus accrued and unpaid interest, plus
make-whole premium at discount rate equal to treasury yield plus 35 basis points |
|
Tax Event Call: |
At any time prior to March 30, 2017 at 100% plus accrued and unpaid interest, plus
tax event make-whole premium at discount rate equal to treasury yield
plus 50 basis
points |
|
Ratings Event Call: |
At any time prior to March 30, 2017 at 100% plus accrued and unpaid interest, plus
ratings event make-whole premium at discount rate equal to treasury
yield plus 50 basis points |
|
Par Call: |
At any time on and after March 30, 2017 at 100% of the principal amount plus
accrued and unpaid interest |
|
CUSIP / ISIN Number: |
69352P AC7/US69352PAC77 |
|
Expected Credit Ratings*: |
||
Moodys
Investors Service Inc.: |
Baa3 |
|
Standard & Poors Ratings Services: |
BB+ |
|
Fitch
Ratings: |
BBB- |
Joint Bookrunners: |
||
Barclays Capital Inc. |
||
J.P. Morgan Securities Inc. |
||
Morgan Stanley & Co. Incorporated |
||
Wachovia Capital Markets, LLC |
||
Co-Managers: |
||
Credit Suisse Securities (USA) LLC |
||
Merrill Lynch, Pierce, Fenner & Smith Incorporated |
||
UBS Securities LLC |