<SEC-DOCUMENT>0001552781-22-000412.txt : 20220518
<SEC-HEADER>0001552781-22-000412.hdr.sgml : 20220518
<ACCEPTANCE-DATETIME>20220518171519
ACCESSION NUMBER:		0001552781-22-000412
CONFORMED SUBMISSION TYPE:	FWP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20220518
DATE AS OF CHANGE:		20220518

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Essential Utilities, Inc.
		CENTRAL INDEX KEY:			0000078128
		STANDARD INDUSTRIAL CLASSIFICATION:	WATER SUPPLY [4941]
		IRS NUMBER:				231702594
		STATE OF INCORPORATION:			PA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		FWP
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	333-255235
		FILM NUMBER:		22940181

	BUSINESS ADDRESS:	
		STREET 1:		762 W. LANCASTER AVE
		CITY:			BRYN MAWR
		STATE:			PA
		ZIP:			19010-3489
		BUSINESS PHONE:		610-527-8000

	MAIL ADDRESS:	
		STREET 1:		762 W. LANCASTER AVE
		CITY:			BRYN MAWR
		STATE:			PA
		ZIP:			19010-3489

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	AQUA AMERICA INC
		DATE OF NAME CHANGE:	20040120

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PHILADELPHIA SUBURBAN CORP
		DATE OF NAME CHANGE:	19920703

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Essential Utilities, Inc.
		CENTRAL INDEX KEY:			0000078128
		STANDARD INDUSTRIAL CLASSIFICATION:	WATER SUPPLY [4941]
		IRS NUMBER:				231702594
		STATE OF INCORPORATION:			PA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		FWP

	BUSINESS ADDRESS:	
		STREET 1:		762 W. LANCASTER AVE
		CITY:			BRYN MAWR
		STATE:			PA
		ZIP:			19010-3489
		BUSINESS PHONE:		610-527-8000

	MAIL ADDRESS:	
		STREET 1:		762 W. LANCASTER AVE
		CITY:			BRYN MAWR
		STATE:			PA
		ZIP:			19010-3489

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	AQUA AMERICA INC
		DATE OF NAME CHANGE:	20040120

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PHILADELPHIA SUBURBAN CORP
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
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<TYPE>FWP
<SEQUENCE>1
<FILENAME>e22315_wtrg-fwp.htm
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>Filed pursuant to Rule 433</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">Dated May&nbsp;18, 2022</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">Issuer Free Writing Prospectus supplementing the</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">dated May&nbsp;18, 2022 and the</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">Prospectus dated April 15, 2021</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">Registration No. 333-255235</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Essential Utilities, Inc.</P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">$500,000,000 5.300% Senior Notes Due 2052&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>The information in this pricing term sheet relates
only to the offering of the Notes and should be read together with (i) the preliminary prospectus supplement, dated May&nbsp;18, 2022,
as filed with the Securities and Exchange Commission (the &ldquo;<B>SEC</B>&rdquo;) pursuant to Rule 424(b) under the Securities Act of
1933, as amended (the &ldquo;<B>Preliminary Prospectus Supplement</B>&rdquo;), and (ii) the related base prospectus dated April 15, 2021,
included in the Registration Statement (File No. 333-255235), in each case, including the documents incorporated by reference therein.
Terms used but not defined herein have the meanings assigned to such terms in the Preliminary Prospectus Supplement.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&nbsp;</I></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 STYLE="padding-right: 6pt; width: 30%; text-indent: 0in"><FONT STYLE="font-size: 10pt"><B>Issuer:</B></FONT></TD>
    <TD STYLE="width: 70%; padding-left: 3in; text-indent: -3in"><FONT STYLE="font-size: 10pt">Essential Utilities, Inc. (the &ldquo;<B>Issuer</B>&rdquo;)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-left: 3in; text-indent: -3in">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><B>Expected Ratings of Securities (Moody&rsquo;s / S&amp;P)*:</B></FONT></TD>
    <TD STYLE="padding-left: 3in; text-indent: -3in"><FONT STYLE="font-size: 10pt">Baa2 (Stable) / A- (Stable)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-left: 3in; text-indent: -3in">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><B>Trade Date:</B></FONT></TD>
    <TD STYLE="padding-left: 3in; text-indent: -3in"><FONT STYLE="font-size: 10pt">May 18, 2022</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-left: 3in; text-indent: -3in">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><B>Settlement Date:</B></FONT></TD>
    <TD STYLE="padding-left: 3in; text-indent: -3in"><FONT STYLE="font-size: 10pt">May 20, 2022 (T+2)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-left: 3in; text-indent: -3in">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><B>Title of Securities:</B></FONT></TD>
    <TD STYLE="padding-left: 3in; text-indent: -3in"><FONT STYLE="font-size: 10pt">5.300% Senior Notes due 2052 (the &ldquo;<B>Notes</B>&rdquo;)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-left: 3in; text-indent: -3in">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><B>Principal Amount:</B></FONT></TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">$500,000,000</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><B>Maturity Date:</B></FONT></TD>
    <TD STYLE="padding-left: 3in; text-indent: -3in"><FONT STYLE="font-size: 10pt">May 1, 2052</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-left: 3in; text-indent: -3in">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><B>Interest Payment Dates:</B></FONT></TD>
    <TD STYLE="padding-right: 8.35pt; text-indent: 0in"><FONT STYLE="font-size: 10pt">May 1 and November 1, commencing November 1, 2022</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 8.35pt; text-indent: 0in">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><B>Record Dates:</B></FONT></TD>
    <TD STYLE="padding-left: 3in; text-indent: -3in"><FONT STYLE="font-size: 10pt">April 15 and October 15</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-left: 3in; text-indent: -3in">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><B>Coupon:</B></FONT></TD>
    <TD STYLE="padding-left: 3in; text-indent: -3in"><FONT STYLE="font-size: 10pt">5.300% per annum</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-left: 3in; text-indent: -3in">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><B>Benchmark Treasury:</B></FONT></TD>
    <TD STYLE="padding-left: 3in; text-indent: -3in"><FONT STYLE="font-size: 10pt">2.250% due February&nbsp;15, 2052</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-left: 3in; text-indent: -3in">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><B>Benchmark Treasury Price and Yield:</B></FONT></TD>
    <TD STYLE="padding-left: 3in; text-indent: -3in"><FONT STYLE="font-size: 10pt">83-13 / 3.109%</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-left: 3in; text-indent: -3in">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><B>Spread to Benchmark Treasury:</B></FONT></TD>
    <TD STYLE="padding-left: 3in; text-indent: -3in"><FONT STYLE="font-size: 10pt">T + 225 basis points</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-left: 3in; text-indent: -3in">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">*<B>A securities rating is not a recommendation to buy, sell or hold securities
and may be subject to revision or withdrawal at any time.</B></P>

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

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

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<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 STYLE="padding-right: 6pt; text-indent: 0in; width: 30%"><FONT STYLE="font-size: 10pt"><B>Yield to Maturity:</B></FONT></TD>
    <TD STYLE="padding-left: 3in; text-indent: -3in; width: 70%"><FONT STYLE="font-size: 10pt">5.359%</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-left: 3in; text-indent: -3in">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><B>Public Offering Price:</B></FONT></TD>
    <TD STYLE="padding-left: 3in; text-indent: -3in"><FONT STYLE="font-size: 10pt">99.128% of principal amount</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-left: 3in; text-indent: -3in">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><B>Net Proceeds (After Deducting Underwriting Discount and Before Offering Expenses): </B></FONT></TD>
    <TD STYLE="text-indent: 0in"><FONT STYLE="font-size: 10pt">$491,265,000</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><B>Optional Redemption:</B></FONT></TD>
    <TD STYLE="text-align: justify; text-indent: 0in"><FONT STYLE="font-size: 10pt">The Notes may be redeemed, in whole or in part, at any time prior to November&nbsp;1, 2051 (six months prior to maturity) at the greater of par and make-whole at a discount rate of Treasury plus 35 basis points; par call at any time on or after November&nbsp;1, 2051</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-align: justify; text-indent: 0in">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><B>CUSIP/ISIN:</B></FONT></TD>
    <TD STYLE="padding-left: 3in; text-indent: -3in">29670G AG7 <FONT STYLE="font-size: 10pt">/ </FONT>US29670GAG73</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-left: 3in; text-indent: -3in">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><B>Joint Bookrunners:</B></FONT></TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0in">PNC Capital Markets LLC<BR>
    BofA Securities, Inc.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0in">Wells Fargo Securities, LLC</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0in">RBC Capital Markets, LLC</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><B>Co-Managers:</B></FONT></TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0in">Barclays Capital Inc.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0in">Citizens Capital Markets, Inc.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0in">Huntington Securities, Inc.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0in">Morgan Stanley &amp; Co. LLC</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0in">Robert W. Baird &amp; Co. Incorporated</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0in">Bancroft Capital, LLC</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0in">Evercore Group L.L.C.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0in">Janney Montgomery Scott LLC</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0in">TD Securities (USA) LLC</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 6pt; text-indent: 0in"><FONT STYLE="font-size: 10pt"><B>Conflicts of Interest:</B></FONT></TD>
    <TD STYLE="text-align: justify; text-indent: 0in"><FONT STYLE="font-size: 10pt">Respective affiliates of PNC Capital Markets LLC, BofA Securities, Inc., Wells Fargo Securities, LLC and certain of the other underwriters are lenders under one or more of our Revolving Credit Facilities and may receive at least 5% of the net proceeds of this offering. Consequently, each such underwriter is deemed to have a conflict of interest within the meaning of FINRA Rule 5121. This offering will therefore be conducted in compliance with the applicable provisions of FINRA Rule 5121, and no such underwriter will confirm any sales to any account over which it exercises discretionary authority without the specific written approval of the transaction from the account holders. Pursuant to FINRA Rule 5121(a)(1)(C), the appointment of a &ldquo;qualified independent underwriter&rdquo; is not required in connection with this offering as the notes will be investment grade rated by one or more nationally recognized statistical rating agencies. See &ldquo;Use of Proceeds&rdquo; in the Preliminary Prospectus Supplement.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>The Issuer has filed a registration statement
(including a prospectus and the related Preliminary Prospectus Supplement) with the SEC for the offering to which this communication relates.
Before you invest, you should read the prospectus in that registration statement, the Preliminary Prospectus Supplement and other documents
the Issuer has filed with the SEC for more complete information about the offering to which this communication relates. You may get these
documents for free by visiting EDGAR on the SEC Web site at <I>www.sec.gov</I>. Alternatively, the Issuer, any underwriter or any dealer
participating in the offering will arrange to send you the Preliminary Prospectus Supplement and the accompanying prospectus if you request
them by calling PNC Capital Markets LLC toll free at 1-855-881-0697, BofA Securities, Inc. toll free at 1-800-294-1322 or Wells Fargo
Securities, LLC toll free at 1-800-645-3751.</B></P>

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

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>This communication should be read in conjunction
with the Preliminary Prospectus Supplement and the accompanying prospectus. The information in this communication supersedes the information
in the Preliminary Prospectus Supplement and the accompanying prospectus to the extent inconsistent with the information in the Preliminary
Prospectus Supplement and the accompanying prospectus.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">ANY DISCLAIMERS OR OTHER NOTICES THAT MAY
APPEAR BELOW ARE NOT APPLICABLE TO THIS COMMUNICATION AND SHOULD BE DISREGARDED. SUCH DISCLAIMERS OR OTHER NOTICES WERE AUTOMATICALLY
GENERATED AS A RESULT OF THIS COMMUNICATION BEING SENT VIA BLOOMBERG OR ANOTHER EMAIL SYSTEM.</P>

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

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

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