PacifiCorp Files FWP on 3/23/26, Signaling New Offering Details

TL;DR

**PacifiCorp just dropped an FWP, likely updating investors on a new securities offering.**

AI Summary

PacifiCorp /OR/ filed a Free Writing Prospectus (FWP) on March 23, 2026, under SEC Accession No. 0001104659-26-033405. This filing, related to their electric services business (SIC 4911), indicates that the company is likely communicating additional information about a securities offering to potential investors, supplementing a previously filed registration statement (File No. 333-281019). For stockholders, this matters because FWPs are often used to provide updated terms, pricing, or other material details that could influence the perceived value or risk of an investment in their securities.

Why It Matters

This FWP suggests PacifiCorp is actively engaging with investors regarding a securities offering, which could impact the company's capital structure and future financial health.

Risk Assessment

Risk Level: low — This filing is administrative and informational, not indicating any immediate financial distress or significant operational change.

Analyst Insight

An investor should look for the underlying registration statement (File No. 333-281019) and any related prospectuses to understand the specific securities offering this FWP pertains to, including terms, pricing, and use of proceeds.

Key Players & Entities

• PACIFICORP /OR/ (company) — the filer and subject of the FWP
• 0000075594 (company) — CIK of PacifiCorp /OR/
• 0001104659-26-033405 (null) — SEC Accession No. for this FWP filing
• 2026-03-23 (null) — Filing Date and Accepted Date of the FWP
• 333-281019 (null) — File No. associated with the FWP, likely a registration statement

FAQ

Key Financial Figures

• $300,000,000 — 036 Bonds ”) Principal Amount: $300,000,000 $550,000,000 $800,000,000 $850,000,0
• $550,000,000 — uo;) Principal Amount: $300,000,000 $550,000,000 $800,000,000 $850,000,000 Coupon:
• $800,000,000 — al Amount: $300,000,000 $550,000,000 $800,000,000 $850,000,000 Coupon: 4.650% 5.100%
• $850,000,000 — 00,000,000 $550,000,000 $800,000,000 $850,000,000 Coupon: 4.650% 5.100% 5.450% 5.80
• $2,000 — by S&P Global Ratings Denominations: $2,000 and any integral multiples of $1,000 in
• $1,000 — : $2,000 and any integral multiples of $1,000 in excess thereof Joint Book-Running

Filing Documents

• tm268502d3_fwp.htm (FWP) — 33KB
• 0001104659-26-033405.txt ( ) — 35KB

From the Filing

Issuer Free Writing Prospectus Filed pursuant to Rule 433(d) Registration Statement No. 333-281019 FINAL TERM SHEET This issuer free writing prospectus relates only to the securities described below and should be read together with PacifiCorp’s preliminary prospectus supplement dated March 23, 2026 (the “Preliminary Prospectus Supplement”), the accompanying prospectus dated July 25, 2024 and the documents incorporated and deemed to be incorporated by reference therein. 2029 Bonds 2031 Bonds 2033 Bonds 2036 Bonds Issuer: PacifiCorp Legal Format: SEC-Registered Security Type: First Mortgage Bonds, 4.650% Series, due 2029 (the “ 2029 Bonds ”) First Mortgage Bonds, 5.100% Series, due 2031 (the “ 2031 Bonds ”) First Mortgage Bonds, 5.450% Series, due 2033 (the “ 2033 Bonds ”) First Mortgage Bonds, 5.800% Series, due 2036 (the “ 2036 Bonds ”) Principal Amount: $300,000,000 $550,000,000 $800,000,000 $850,000,000 Coupon: 4.650% 5.100% 5.450% 5.800% Interest Payment Dates: Semi-annually on April 15 and October 15, commencing on October 15, 2026 Semi-annually on April 15 and October 15, commencing on October 15, 2026 Semi-annually on April 15 and October 15, commencing on October 15, 2026 Semi-annually on April 15 and October 15, commencing on October 15, 2026 Record Dates: April 1 and October 1 April 1 and October 1 April 1 and October 1 April 1 and October 1 Trade Date: March 23, 2026 Settlement Date: March 25, 2026 (T+2) We expect that delivery of the bonds will be made against payment therefor on or about March 25, 2026, which will be the second business day following the date hereof. This settlement cycle is referred to as “T+2.” Under Rule 15c6-1 under the Securities Exchange Act of 1934, as amended, trades in the secondary market generally are required to settle in one business day, unless the parties to any such trade expressly agree otherwise. Accordingly, purchasers who wish to trade the bonds prior to the date that is one business day preceding the settlement date will be required, by virtue of the fact that the bonds initially will settle T+2, to specify an alternate settlement cycle at the time of any such trade to prevent a failed settlement. Purchasers of bonds who wish to trade bonds prior to the date that is one business day preceding the settlement date should consult their own advisors. Maturity: April 15, 2029 April 15, 2031 April 15, 2033 April 15, 2036 Treasury Benchmark: 3.500% due March 15, 2029 3.500% due February 28, 2031 3.750% due February 28, 2033 4.125% due February 15, 2036 U.S. Treasury Benchmark Spot: 3.849% 3.951% 4.145% 4.336% Spread to Treasury Benchmark: +85 basis points +115 basis points +133 basis points +150 basis points 2029 Bonds 2031 Bonds 2033 Bonds 2036 Bonds Re-offer Yield: 4.699% 5.101% 5.475% 5.836% Price to Public: 99.859% of the principal amount 99.992% of the principal amount 99.851% of the principal amount 99.724% of the principal amount Optional Redemption: Prior to March 15, 2029, Make Whole Call at T+15 basis points Prior to March 15, 2031, Make Whole Call at T+20 basis points Prior to February 15, 2033, Make Whole Call at T+20 basis points Prior to January 15, 2036, Make Whole Call at T+25 basis points On or after March 15, 2029, 100% of the principal amount plus accrued and unpaid interest On or after March 15, 2031, 100% of the principal amount plus accrued and unpaid interest On or after February 15, 2033, 100% of the principal amount plus accrued and unpaid interest On or after January 15, 2036, 100% of the principal amount plus accrued and unpaid interest Expected Ratings*: A3 (Negative) by Moody’s Investors Service, Inc. BBB+ (Negative) by S&P Global Ratings Denominations: $2,000 and any integral multiples of $1,000 in excess thereof Joint Book-Running Managers: J.P. Morgan Securities LLC Mizuho Securities USA LLC Wells Fargo Securities, LLC Barclays Capital Inc. PNC Capital Markets LLC Co-Managers: BofA Securities, Inc. BMO Capital Markets Corp. Citigroup Global Markets Inc. MUFG Securities Americas Inc. SMBC Nikko Securities America, Inc. TD Securities (USA) LLC U.S. Bancorp Investments, Inc. CUSIP Number: 695114 DM7 695114 DN5 695114 DP0 695114 DQ8 ISIN: US695114DM76 US695114DN59 US695114DP08 US695114DQ80 *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 U.S. Securities and Exchange Commission (“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 offeri

View Full Filing

View this FWP filing on SEC EDGAR