<SEC-DOCUMENT>0001104659-16-116620.txt : 20160502
<SEC-HEADER>0001104659-16-116620.hdr.sgml : 20160502
<ACCEPTANCE-DATETIME>20160502145316
ACCESSION NUMBER:		0001104659-16-116620
CONFORMED SUBMISSION TYPE:	FWP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20160502
DATE AS OF CHANGE:		20160502

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CMS ENERGY CORP
		CENTRAL INDEX KEY:			0000811156
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRIC & OTHER SERVICES COMBINED [4931]
		IRS NUMBER:				382726431
		STATE OF INCORPORATION:			MI
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		FWP
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	333-195496
		FILM NUMBER:		161611309

	BUSINESS ADDRESS:	
		STREET 1:		ONE ENERGY PLAZA
		CITY:			JACKSON
		STATE:			MI
		ZIP:			49201
		BUSINESS PHONE:		5177880550

	MAIL ADDRESS:	
		STREET 1:		ONE ENERGY PLAZA
		CITY:			JACKSON
		STATE:			MI
		ZIP:			49201

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CMS ENERGY CORP
		CENTRAL INDEX KEY:			0000811156
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRIC & OTHER SERVICES COMBINED [4931]
		IRS NUMBER:				382726431
		STATE OF INCORPORATION:			MI
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		FWP

	BUSINESS ADDRESS:	
		STREET 1:		ONE ENERGY PLAZA
		CITY:			JACKSON
		STATE:			MI
		ZIP:			49201
		BUSINESS PHONE:		5177880550

	MAIL ADDRESS:	
		STREET 1:		ONE ENERGY PLAZA
		CITY:			JACKSON
		STATE:			MI
		ZIP:			49201
</SEC-HEADER>
<DOCUMENT>
<TYPE>FWP
<SEQUENCE>1
<FILENAME>a16-9852_2fwp.htm
<DESCRIPTION>FWP
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">Filed under Rule&nbsp;433</font></b><font size="3" style="font-size:12.0pt;"><br>  <b>File No.&nbsp;333-</b></font><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">195496</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">Final Term Sheet</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">May&nbsp;<font color="black" style="color:black;">2</font></font><font size="3" style="font-size:12.0pt;">, 2016</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
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<td width="45%" valign="top" style="padding:.7pt 0in 0in 0in;width:45.66%;">
<p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">Issuer:</font></p>    </td>
<td width="54%" valign="top" style="padding:.7pt 0in 0in 0in;width:54.34%;">
<p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">CMS Energy Corporation</font></p>    </td>   </tr>
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<td width="45%" valign="top" style="padding:.7pt 0in 0in 0in;width:45.66%;">
<p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">Security:</font></p>    </td>
<td width="54%" valign="top" style="padding:.7pt 0in 0in 0in;width:54.34%;">
<p style="margin:0in 0in .0001pt;"><font size="3" color="black" face="Times New Roman" style="color:black;font-size:12.0pt;">3.00</font><font size="3" style="font-size:12.0pt;">% Senior   Notes due 20</font><font size="3" color="black" style="color:black;font-size:12.0pt;">26</font></p>    </td>   </tr>
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<td width="45%" valign="top" style="padding:.7pt 0in 0in 0in;width:45.66%;">
<p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">Aggregate Principal Amount Offered:</font></p>    </td>
<td width="54%" valign="top" style="padding:.7pt 0in 0in 0in;width:54.34%;">
<p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">$</font><font size="3" color="black" style="color:black;font-size:12.0pt;">300,000,000</font></p>    </td>   </tr>
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<td width="45%" valign="top" style="padding:.7pt 0in 0in 0in;width:45.66%;">
<p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">Maturity Date:</font></p>    </td>
<td width="54%" valign="top" style="padding:.7pt 0in 0in 0in;width:54.34%;">
<p style="margin:0in 0in .0001pt;"><font size="3" color="black" face="Times New Roman" style="color:black;font-size:12.0pt;">May&nbsp;15</font><font size="3" style="font-size:12.0pt;">, 20</font><font size="3" color="black" style="color:black;font-size:12.0pt;">26</font></p>    </td>   </tr>
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<td width="45%" valign="top" style="padding:.7pt 0in 0in 0in;width:45.66%;">
<p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">Coupon:</font></p>    </td>
<td width="54%" valign="top" style="padding:.7pt 0in 0in 0in;width:54.34%;">
<p style="margin:0in 0in .0001pt;"><font size="3" color="black" face="Times New Roman" style="color:black;font-size:12.0pt;">3.00</font><font size="3" style="font-size:12.0pt;">%</font></p>    </td>   </tr>
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<td width="45%" valign="top" style="padding:.7pt 0in 0in 0in;width:45.66%;">
<p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">Yield to Maturity:</font></p>    </td>
<td width="54%" valign="top" style="padding:.7pt 0in 0in 0in;width:54.34%;">
<p style="margin:0in 0in .0001pt;"><font size="3" color="black" face="Times New Roman" style="color:black;font-size:12.0pt;">3.044</font><font size="3" style="font-size:12.0pt;">%</font></p>    </td>   </tr>
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<td width="45%" valign="top" style="padding:.7pt 0in 0in 0in;width:45.66%;">
<p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">Spread to Benchmark Treasury:</font></p>    </td>
<td width="54%" valign="top" style="padding:.7pt 0in 0in 0in;width:54.34%;">
<p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">+</font><font size="3" color="black" style="color:black;font-size:12.0pt;">120</font><font size="3" style="font-size:12.0pt;"> basis points</font></p>    </td>   </tr>
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<td width="45%" valign="top" style="padding:.7pt 0in 0in 0in;width:45.66%;">
<p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">Benchmark Treasury Security:</font></p>    </td>
<td width="54%" valign="top" style="padding:.7pt 0in 0in 0in;width:54.34%;">
<p style="margin:0in 0in .0001pt;"><font size="3" color="black" face="Times New Roman" style="color:black;font-size:12.0pt;">1.625%</font><font size="3" style="font-size:12.0pt;"> due </font><font size="3" color="black" style="color:black;font-size:12.0pt;">February&nbsp;15,   2026</font></p>    </td>   </tr>
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<td width="45%" valign="top" style="padding:.7pt 0in 0in 0in;width:45.66%;">
<p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">Benchmark Treasury Price and Yield:</font></p>    </td>
<td width="54%" valign="top" style="padding:.7pt 0in 0in 0in;width:54.34%;">
<p style="margin:0in 0in .0001pt;"><font size="3" color="black" face="Times New Roman" style="color:black;font-size:12.0pt;">98-01+</font><font size="3" style="font-size:12.0pt;">; </font><font size="3" color="black" style="color:black;font-size:12.0pt;">1.844</font><font size="3" style="font-size:12.0pt;">%</font></p>    </td>   </tr>
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<td width="45%" valign="top" style="padding:.7pt 0in 0in 0in;width:45.66%;">
<p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">Interest Payment Dates:</font></p>    </td>
<td width="54%" valign="top" style="padding:.7pt 0in 0in 0in;width:54.34%;">
<p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">May&nbsp;</font><font size="3" style="font-size:12.0pt;">15</font><font size="3" style="font-size:12.0pt;"> and   November&nbsp;</font><font size="3" style="font-size:12.0pt;">15</font></p>    </td>   </tr>
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<td width="45%" valign="top" style="padding:.7pt 0in 0in 0in;width:45.66%;">
<p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">First Interest Payment Date:</font></p>    </td>
<td width="54%" valign="top" style="padding:.7pt 0in 0in 0in;width:54.34%;">
<p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">November&nbsp;</font><font size="3" style="font-size:12.0pt;">15</font><font size="3" style="font-size:12.0pt;">, 20</font><font size="3" style="font-size:12.0pt;">16</font></p>    </td>   </tr>
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<td width="45%" valign="top" style="padding:.7pt 0in 0in 0in;width:45.66%;">
<p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">Public Offering Price:</font></p>    </td>
<td width="54%" valign="top" style="padding:.7pt 0in 0in 0in;width:54.34%;">
<p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">99.622</font><font size="3" style="font-size:12.0pt;">%</font></p>    </td>   </tr>
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<td width="45%" valign="top" style="padding:.7pt 0in 0in 0in;width:45.66%;">
<p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">Optional Redemption:</font></p>    </td>
<td width="54%" valign="top" style="padding:.7pt 0in 0in 0in;width:54.34%;">
<p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">Make-whole call at any   time prior to February&nbsp;15, 2026</font><font size="3" style="font-size:12.0pt;"> at the Treasury rate   plus 20 basis points and, thereafter, at par</font></p>    </td>   </tr>
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<td width="45%" valign="top" style="padding:.7pt 0in 0in 0in;width:45.66%;">
<p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">Trade Date:</font></p>    </td>
<td width="54%" valign="top" style="padding:.7pt 0in 0in 0in;width:54.34%;">
<p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">May&nbsp;2, 2016</font></p>    </td>   </tr>
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<td width="45%" valign="top" style="padding:.7pt 0in 0in 0in;width:45.66%;">
<p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">Settlement Date:</font></p>    </td>
<td width="54%" valign="top" style="padding:.7pt 0in 0in 0in;width:54.34%;">
<p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">May&nbsp;5, 2016 (T+3)</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">Expected Ratings:</font></p>    </td>
<td width="54%" valign="top" style="padding:.7pt 0in 0in 0in;width:54.34%;">
<p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">Baa2 / BBB / BBB (Moody&#146;s / S&amp;P / Fitch)</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="54%" valign="top" style="padding:.7pt 0in 0in 0in;width:54.34%;">
<p style="margin:0in 0in .0001pt;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">Note:</font></b><font size="3" style="font-size:12.0pt;"> A   securities rating is not a recommendation to buy, sell or hold securities and   may be subject to revision or withdrawal at any time</font></p>    </td>   </tr>
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<td width="45%" valign="top" style="padding:.7pt 0in 0in 0in;width:45.66%;">
<p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">Joint Book-Running Managers:</font></p>    </td>
<td width="54%" valign="top" style="padding:.7pt 0in 0in 0in;width:54.34%;">
<p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">Barclays Capital Inc.</font></p>    </td>   </tr>
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<td width="45%" valign="top" style="padding:.7pt 0in 0in 0in;width:45.66%;">
<p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="54%" valign="top" style="padding:.7pt 0in 0in 0in;width:54.34%;">
<p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">Goldman, Sachs&nbsp;&amp; Co.</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="54%" valign="top" style="padding:.7pt 0in 0in 0in;width:54.34%;">
<p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">J.P. Morgan Securities   LLC</font></p>    </td>   </tr>
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<td width="45%" valign="top" style="padding:.7pt 0in 0in 0in;width:45.66%;">
<p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="54%" valign="top" style="padding:.7pt 0in 0in 0in;width:54.34%;">
<p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">RBC Capital Markets,   LLC</font></p>    </td>   </tr>
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<td width="45%" valign="top" style="padding:.7pt 0in 0in 0in;width:45.66%;">
<p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="54%" valign="top" style="padding:.7pt 0in 0in 0in;width:54.34%;">
<p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">Wells Fargo Securities,   LLC</font></p>    </td>   </tr>
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<td width="45%" valign="top" style="padding:.7pt 0in 0in 0in;width:45.66%;">
<p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">Co-Managers:</font></p>    </td>
<td width="54%" valign="top" style="padding:.7pt 0in 0in 0in;width:54.34%;">
<p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">Comerica   Securities,&nbsp;Inc.</font></p>    </td>   </tr>
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<td width="45%" valign="top" style="padding:.7pt 0in 0in 0in;width:45.66%;">
<p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
<td width="54%" valign="top" style="padding:.7pt 0in 0in 0in;width:54.34%;">
<p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">PNC Capital Markets LLC</font></p>    </td>   </tr>
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<td width="45%" valign="top" style="padding:.7pt 0in 0in 0in;width:45.66%;">
<p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">CUSIP/ISIN:</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">125896BQ2</font><font size="3" style="font-size:12.0pt;"> / </font><font size="3" style="font-size:12.0pt;">US125896BQ27</font></p>    </td>   </tr>  </table>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">CMS Energy Corporation has filed a registration statement (including a prospectus, as supplemented) with the Securities and Exchange Commission (&#147;SEC&#148;) for the offering to which this communication relates.&#160; Before you invest, you should read the prospectus (as supplemented) in that registration statement and other documents CMS Energy Corporation has filed with the SEC for more complete information about CMS Energy Corporation and this offering.&#160; You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov.&#160; Alternatively, CMS Energy Corporation, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling Barclays Capital Inc. toll-free at (888) 603-5847, Goldman, Sachs&nbsp;&amp; Co. toll-free at (866) 471-2526, </font></b><b><font size="3" style="font-size:12.0pt;font-weight:bold;">J.P. Morgan Securities LLC collect at</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" style="font-size:12.0pt;">1</font><a name="PB_1_230723_6174"></a></p>
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<p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">(212) 834-4533, RBC Capital Markets, LLC toll-free at (866) 375-6829</font></b><b><font size="3" style="font-size:12.0pt;font-weight:bold;"> and</font></b><b><font size="3" style="font-size:12.0pt;font-weight:bold;"> Wells Fargo Securities, LLC toll-free at (800) 645-3751.</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">Any disclaimers or other notices that may appear below are not applicable to this communication and should be disregarded.&#160; Such disclaimers were automatically generated as a result of this communication being sent via email or another communication system.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="3" face="Times New Roman" style="font-size:12.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="3" style="font-size:12.0pt;">2</font><a name="PB_2_230735_7056"></a></p>
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