Filing under Rule 433
Dated September 7, 2011
Registration No. 333-171596
NORTHWEST NATURAL GAS COMPANY
Secured Medium-Term Notes, Series B
(A Series of First Mortgage Bonds)
and
Unsecured Medium-Term Notes, Series B
Due from One Year to 30 Years from Date of Issue
| CUSIP No.: 66765R BZ 8
Secured x Unsecured ¨
Principal amount: $50,000,000
Issue price: 100.00%
Net proceeds to Company: $49,687,500
Repayable at the option of holder: Yes ¨ No x
Repayment date: Not applicable
Repayment price: Not applicable
Election period: Not applicable
Selling agent: UBS Securities LLC
Type of transaction: Agent |
Stated interest rate: 3.176%
Maturity date: September 15, 2021
Settlement date: September 12, 2011
Interest payment dates: March 15 and September 15, commencing March 15, 2012
Regular record dates: March 1 and September 1
Redeemable: Yes x No ¨ In whole ¨ In whole or in part x
Fixed redemption price: Yes ¨ No x
Initial redemption date: Not applicable
Initial redemption price: Not applicable
Reduction percentage: Not applicable
Redemption limitation date: Not applicable
Make-whole redemption price: Yes x No ¨
Make-whole spread: 0.20%
Use of Proceeds: The “Use of Proceeds” section of the Prospectus Supplement, dated August 19, 2011, to the Prospectus, dated January 7, 2011, is updated as follows: As of September 6, 2011, NW Natural had approximately $226,600,000 of short-term indebtedness outstanding, with a weighted average maturity of approximately 37 days and bearing a weighted average interest rate of approximately 0.28%. |
The issuer has filed a registration statement (including a prospectus) with the Securities and Exchange Commission 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 Securities and Exchange Commission for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the Securities and Exchange Commission’s Web site 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 calling UBS Securities LLC toll-free at 1-877-827-6444, ext. 561-3884.