Pinnacle West Capital prices senior notes offering with terms to be determined at pricing

Filed June 1, 2026 · ~1 min read

Key Changes

• high

  This is a preliminary 424B5 with placeholder blanks for principal amount, interest rate, and maturity date. Final terms will be set at pricing.

  The Offering verify on EDGAR →
• high

  Notes are unsecured obligations of the parent holding company only, structurally subordinated to all debt and obligations of operating subsidiaries including Arizona Public Service.

  Risk Factors verify on EDGAR →
• high

  The indenture contains minimal covenants: no change-of-control put, no financial maintenance ratios, no limits on additional unsecured debt, subsidiary debt, dividends, or stock repurchases.

  Risk Factors verify on EDGAR →