<SEC-DOCUMENT>0001104659-20-112263.txt : 20201005
<SEC-HEADER>0001104659-20-112263.hdr.sgml : 20201005
<ACCEPTANCE-DATETIME>20201005170044
ACCESSION NUMBER:		0001104659-20-112263
CONFORMED SUBMISSION TYPE:	FWP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20201005
DATE AS OF CHANGE:		20201005

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			WEC ENERGY GROUP, INC.
		CENTRAL INDEX KEY:			0000783325
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRIC & OTHER SERVICES COMBINED [4931]
		IRS NUMBER:				391391525
		STATE OF INCORPORATION:			WI
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		FWP
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	333-225349
		FILM NUMBER:		201224304

	BUSINESS ADDRESS:	
		STREET 1:		231 W MICHIGAN ST
		STREET 2:		P O BOX 1331
		CITY:			MILWAUKEE
		STATE:			WI
		ZIP:			53201
		BUSINESS PHONE:		414-221-2345

	MAIL ADDRESS:	
		STREET 1:		231 WEST MICHIGAN STREET
		STREET 2:		P O BOX 1331
		CITY:			MILWAUKEE
		STATE:			WI
		ZIP:			53201

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	WISCONSIN ENERGY CORP
		DATE OF NAME CHANGE:	19920703

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			WEC ENERGY GROUP, INC.
		CENTRAL INDEX KEY:			0000783325
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRIC & OTHER SERVICES COMBINED [4931]
		IRS NUMBER:				391391525
		STATE OF INCORPORATION:			WI
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		FWP

	BUSINESS ADDRESS:	
		STREET 1:		231 W MICHIGAN ST
		STREET 2:		P O BOX 1331
		CITY:			MILWAUKEE
		STATE:			WI
		ZIP:			53201
		BUSINESS PHONE:		414-221-2345

	MAIL ADDRESS:	
		STREET 1:		231 WEST MICHIGAN STREET
		STREET 2:		P O BOX 1331
		CITY:			MILWAUKEE
		STATE:			WI
		ZIP:			53201

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	WISCONSIN ENERGY CORP
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>FWP
<SEQUENCE>1
<FILENAME>tm2032520d1_fwp.htm
<DESCRIPTION>FWP
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Pricing Term Sheet</B><BR>
Filed Pursuant to Rule&nbsp;433(d)<BR>
Registration No.&nbsp;333-225349<BR>
October 5, 2020</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Issuer:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">WEC Energy Group, Inc.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 44%"><FONT STYLE="font-size: 10pt">Trade Date:</FONT></TD>
    <TD STYLE="width: 56%"><FONT STYLE="font-size: 10pt">October 5, 2020</FONT></TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Expected Settlement Date:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">T+4, October 9, 2020</FONT></TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Expected Ratings* (Moody&rsquo;s/S&amp;P/Fitch):</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Baa1 (stable) / BBB+ (stable) / BBB+ (stable)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Joint Book-Running Managers:</FONT></TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Barclays Capital Inc.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">J.P. Morgan Securities LLC</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">KeyBanc Capital Markets Inc.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">TD Securities (USA) LLC</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">U.S. Bancorp Investments, Inc.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Wells Fargo Securities, LLC</P></TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Senior Co-Manager:</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Goldman Sachs &amp; Co. LLC</FONT></TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Co-Managers:</FONT></TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Siebert Williams Shank &amp; Co., LLC</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Comerica Securities, Inc.</P></TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 10pt"><B>Terms Applicable to 1.375% Senior Notes due October 15, 2027 (the &ldquo;<U>2027 Notes</U>&rdquo;)</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Principal Amount:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">$500,000,000</FONT></TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Maturity:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">October 15, 2027</FONT></TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Coupon:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">1.375%</FONT></TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Initial Price to Public:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">99.920% per 2027 Note</FONT></TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Yield to Maturity:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">1.387%</FONT></TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Spread to Benchmark Treasury:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">+85 basis points</FONT></TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Benchmark Treasury:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">UST 0.375% due September 30, 2027</FONT></TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Benchmark Treasury Yield:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">0.537%</FONT></TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Interest Payment Dates:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">April 15 and October 15, commencing April 15, 2021</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Make-Whole Call:</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">At any time prior to August 15, 2027 (the date that is two months prior to the maturity date, which is referred to herein as the &ldquo;2027 Early Call Date&rdquo;), the 2027 Notes will be redeemable in whole or in part from time to time, at our option, at a &ldquo;make-whole&rdquo; redemption price, calculated by us, equal to (a) the greater of (i)&nbsp;100% of the principal amount of the 2027 Notes being redeemed or (ii)&nbsp;the sum of the present values of the remaining scheduled payments of principal and interest on the 2027 Notes being redeemed that would be due if such 2027 Notes matured on the 2027 Early Call Date but for the redemption (exclusive of interest accrued to the date of redemption) discounted to the redemption date on a semiannual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus&nbsp;15&nbsp;basis points, plus (b) accrued and unpaid interest on the 2027 Notes being redeemed to, but not including, the redemption date.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Par Call:</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">At any time on or after the 2027 Early Call Date, we may redeem the 2027 Notes, in whole or in part from time to time, at 100% of the principal amount of the 2027 Notes being redeemed plus accrued and unpaid interest on such 2027 Notes to, but not including, the redemption date.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">CUSIP / ISIN:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">92939U AD8 / US92939UAD81</FONT></TD>
    </TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 10pt"><B>Terms Applicable to 1.800% Senior Notes due October 15, 2030 (the &ldquo;<U>2030 Notes</U>&rdquo;)</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 44%"><FONT STYLE="font-size: 10pt">Principal Amount:</FONT></TD>
    <TD STYLE="width: 56%"><FONT STYLE="font-size: 10pt">$450,000,000</FONT></TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Maturity:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">October 15, 2030</FONT></TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Coupon:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">1.800%</FONT></TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Initial Price to Public:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">99.909% per 2030 Note</FONT></TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Yield to Maturity:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">1.810%</FONT></TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Spread to Benchmark Treasury:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">+105 basis points</FONT></TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Benchmark Treasury:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">UST 0.625% due August 15, 2030</FONT></TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Benchmark Treasury Yield:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">0.760%</FONT></TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Interest Payment Dates:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">April 15 and October 15, commencing April 15, 2021</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Make-Whole Call:</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">At any time prior to July 15, 2030 (the date that is three months prior to the maturity date, which is referred to herein as the &ldquo;2030 Early Call Date&rdquo;), the 2030 Notes will be redeemable in whole or in part from time to time, at our option, at a &ldquo;make-whole&rdquo; redemption price, calculated by us, equal to (a) the greater of (i)&nbsp;100% of the principal amount of the 2030 Notes being redeemed or (ii)&nbsp;the sum of the present values of the remaining scheduled payments of principal and interest on the 2030 Notes being redeemed that would be due if such 2030 Notes matured on the 2030 Early Call Date but for the redemption (exclusive of interest accrued to the date of redemption) discounted to the redemption date on a semiannual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus&nbsp;20&nbsp;basis points, plus (b) accrued and unpaid interest on the 2030 Notes being redeemed to, but not including, the redemption date.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Par Call:</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">At any time on or after the 2030 Early Call Date, we may redeem the 2030 Notes, in whole or in part from time to time, at 100% of the principal amount of the 2030 Notes being redeemed plus accrued and unpaid interest on such 2030 Notes to, but not including, the redemption date.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">CUSIP / ISIN:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">92939U AE6 / US92939UAE64</FONT></TD>
    </TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">* 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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">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
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 contacting Barclays Capital Inc. toll-free at 1-888-603-5847, J.P. Morgan Securities
LLC collect at 1-212-834-4533, KeyBanc Capital Markets Inc. toll-free at 1-866-227-6479, TD Securities (USA) LLC toll-free at
1-855-495-9846, U.S. Bancorp Investments, Inc. toll-free at 1-877-558-2607 or Wells Fargo Securities, LLC toll-free at 1-800-645-3751.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"></P>

<!-- Field: Page; Sequence: 2; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">&nbsp;</P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
