<SEC-DOCUMENT>0001104659-24-057478.txt : 20240506
<SEC-HEADER>0001104659-24-057478.hdr.sgml : 20240506
<ACCEPTANCE-DATETIME>20240506163510
ACCESSION NUMBER:		0001104659-24-057478
CONFORMED SUBMISSION TYPE:	FWP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20240506
DATE AS OF CHANGE:		20240506

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			OGE ENERGY CORP.
		CENTRAL INDEX KEY:			0001021635
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRIC SERVICES [4911]
		ORGANIZATION NAME:           	01 Energy & Transportation
		IRS NUMBER:				731481638
		STATE OF INCORPORATION:			OK
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		FWP
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	333-279061
		FILM NUMBER:		24918112

	BUSINESS ADDRESS:	
		STREET 1:		321 N HARVEY
		STREET 2:		P.O. BOX 321
		CITY:			OKLAHOMA CITY
		STATE:			OK
		ZIP:			73101-0321
		BUSINESS PHONE:		4055533000

	MAIL ADDRESS:	
		STREET 1:		321 N HARVEY
		STREET 2:		P.O. BOX 321
		CITY:			OKLAHOMA CITY
		STATE:			OK
		ZIP:			73101-0321

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	OGE ENERGY CORP
		DATE OF NAME CHANGE:	19960827

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			OGE ENERGY CORP.
		CENTRAL INDEX KEY:			0001021635
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRIC SERVICES [4911]
		ORGANIZATION NAME:           	01 Energy & Transportation
		IRS NUMBER:				731481638
		STATE OF INCORPORATION:			OK
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		FWP

	BUSINESS ADDRESS:	
		STREET 1:		321 N HARVEY
		STREET 2:		P.O. BOX 321
		CITY:			OKLAHOMA CITY
		STATE:			OK
		ZIP:			73101-0321
		BUSINESS PHONE:		4055533000

	MAIL ADDRESS:	
		STREET 1:		321 N HARVEY
		STREET 2:		P.O. BOX 321
		CITY:			OKLAHOMA CITY
		STATE:			OK
		ZIP:			73101-0321

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	OGE ENERGY CORP
		DATE OF NAME CHANGE:	19960827
</SEC-HEADER>
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<DESCRIPTION>FWP
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Filed Pursuant to Rule 433</B></P>

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

<P STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Registration No. 333-279061</B></P>

<P STYLE="text-align: right; font: 10pt Times New Roman, Times, Serif; margin: 0"><B>May 6, 2024</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>Pricing
Information</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>OGE Energy
Corp.</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps"><B>$</B></FONT><B>350,000,000
5.45<FONT STYLE="font-variant: small-caps">% Senior Notes, Series&nbsp;due May&nbsp;15, 2029</FONT></B></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="padding: 1pt; border-bottom: silver 1pt solid; white-space: nowrap; width: 30%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Issuer</FONT></TD>
    <TD STYLE="padding: 1pt; white-space: nowrap; border-bottom: silver 1pt solid; text-align: right; width: 70%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">OGE Energy Corp.</FONT></TD></TR>
  <TR>
    <TD STYLE="padding: 1pt; border-bottom: silver 1pt solid; white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ratings (Moody&rsquo;s / S&amp;P / Fitch)*</FONT></TD>
    <TD STYLE="padding: 1pt; white-space: nowrap; border-bottom: silver 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Baa1 (Stable) / BBB (Stable) / BBB+ (Stable)</FONT></TD></TR>
  <TR>
    <TD STYLE="padding: 1pt; white-space: nowrap; border-bottom: silver 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Principal Amount</FONT></TD>
    <TD STYLE="padding: 1pt; border-bottom: silver 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$350,000,000</FONT></TD></TR>
  <TR>
    <TD STYLE="padding: 1pt; white-space: nowrap; border-bottom: silver 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Collateral Type</FONT></TD>
    <TD STYLE="padding: 1pt; border-bottom: silver 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Senior Unsecured Notes</FONT></TD></TR>
  <TR>
    <TD STYLE="padding: 1pt; white-space: nowrap; border-bottom: silver 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Format</FONT></TD>
    <TD STYLE="padding: 1pt; border-bottom: silver 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SEC Registered</FONT></TD></TR>
  <TR>
    <TD STYLE="padding: 1pt; white-space: nowrap; border-bottom: silver 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Trade Date</FONT></TD>
    <TD STYLE="padding: 1pt; border-bottom: silver 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">May&nbsp;6, 2024</FONT></TD></TR>
  <TR>
    <TD STYLE="padding: 1pt; white-space: nowrap; border-bottom: silver 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Settlement Date (T+3)</FONT></TD>
    <TD STYLE="padding: 1pt; border-bottom: silver 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">May&nbsp;9, 2024</FONT></TD></TR>
  <TR>
    <TD STYLE="padding: 1pt; white-space: nowrap; border-bottom: silver 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Maturity</FONT></TD>
    <TD STYLE="padding: 1pt; border-bottom: silver 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">May&nbsp;15, 2029</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 1pt; white-space: nowrap; border-bottom: silver 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Interest Payment Dates</FONT></TD>
    <TD STYLE="padding: 1pt; border-bottom: silver 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Semi-annual payments on May&nbsp;15 and November&nbsp;15 of each year, beginning November&nbsp;15, 2024</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 1pt; white-space: nowrap; border-bottom: silver 1pt solid">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Optional Redemption Provisions</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Make Whole Call</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Par Call</P></TD>
    <TD STYLE="padding: 1pt; border-bottom: silver 1pt solid; white-space: nowrap">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">T + 15 bps (at any time before April&nbsp;15, 2029)</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">At any time on or after April&nbsp;15, 2029</P></TD></TR>
  <TR>
    <TD STYLE="padding: 1pt; white-space: nowrap; border-bottom: silver 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Benchmark Treasury</FONT></TD>
    <TD STYLE="padding: 1pt; border-bottom: silver 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.625% due April&nbsp;30, 2029</FONT></TD></TR>
  <TR>
    <TD STYLE="padding: 1pt; white-space: nowrap; border-bottom: silver 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Benchmark Treasury Price</FONT></TD>
    <TD STYLE="padding: 1pt; border-bottom: silver 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100-20+</FONT></TD></TR>
  <TR>
    <TD STYLE="padding: 1pt; white-space: nowrap; border-bottom: silver 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Benchmark Treasury Yield</FONT></TD>
    <TD STYLE="padding: 1pt; border-bottom: silver 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.480%</FONT></TD></TR>
  <TR>
    <TD STYLE="padding: 1pt; white-space: nowrap; border-bottom: silver 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Spread to Benchmark Treasury</FONT></TD>
    <TD STYLE="padding: 1pt; border-bottom: silver 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">T + </FONT><FONT STYLE="font-size: 10pt">100 bps</FONT></TD></TR>
  <TR>
    <TD STYLE="padding: 1pt; white-space: nowrap; border-bottom: silver 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Reoffer Yield</FONT></TD>
    <TD STYLE="padding: 1pt; border-bottom: silver 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.480%</FONT></TD></TR>
  <TR>
    <TD STYLE="padding: 1pt; white-space: nowrap; border-bottom: silver 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Coupon</FONT></TD>
    <TD STYLE="padding: 1pt; border-bottom: silver 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.45% </FONT></TD></TR>
  <TR>
    <TD STYLE="padding: 1pt; white-space: nowrap; border-bottom: silver 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Price to Public</FONT></TD>
    <TD STYLE="padding: 1pt; border-bottom: silver 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">99.869% of the principal amount</FONT></TD></TR>
  <TR>
    <TD STYLE="padding: 1pt; white-space: nowrap; vertical-align: bottom; border-bottom: silver 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CUSIP / ISIN</FONT></TD>
    <TD STYLE="padding: 1pt; border-bottom: silver 1pt solid; white-space: nowrap; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">670837 AD5 / US670837AD53</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-top: 1pt; padding-right: 1pt; padding-left: 1pt; white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Joint Book-Running Managers</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-right: 1pt; padding-left: 1pt; white-space: nowrap; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">J.P. Morgan Securities LLC</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 1pt; padding-left: 1pt; white-space: nowrap">&nbsp;</TD>
    <TD STYLE="padding-right: 1pt; padding-left: 1pt; white-space: nowrap; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">MUFG Securities Americas Inc.</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; white-space: nowrap">&nbsp;</TD>
    <TD STYLE="padding-right: 1pt; padding-bottom: 1pt; padding-left: 1pt; white-space: nowrap; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">U.S. Bancorp Investments,&nbsp;Inc.</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-top: 1pt; padding-right: 1pt; padding-left: 1pt; white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Co-Managers</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-right: 1pt; padding-left: 1pt; white-space: nowrap; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Barclays Capital Inc. </FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 1pt; padding-left: 1pt; white-space: nowrap">&nbsp;</TD>
    <TD STYLE="padding-right: 1pt; padding-left: 1pt; white-space: nowrap; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">BofA Securities,&nbsp;Inc.</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 1pt; padding-left: 1pt; white-space: nowrap">&nbsp;</TD>
    <TD STYLE="padding-right: 1pt; padding-left: 1pt; white-space: nowrap; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Morgan Stanley&nbsp;&amp; Co. LLC</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 1pt; padding-left: 1pt; white-space: nowrap">&nbsp;</TD>
    <TD STYLE="padding-right: 1pt; padding-left: 1pt; white-space: nowrap; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">PNC Capital Markets LLC</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 1pt; padding-left: 1pt; white-space: nowrap">&nbsp;</TD>
    <TD STYLE="padding-right: 1pt; padding-left: 1pt; white-space: nowrap; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Scotia Capital (USA) Inc.</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 1pt; padding-left: 1pt; white-space: nowrap">&nbsp;</TD>
    <TD STYLE="padding-right: 1pt; padding-left: 1pt; white-space: nowrap; vertical-align: bottom; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">BOK Financial Securities,&nbsp;Inc.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">BOK Financial Securities,&nbsp;Inc., one of the
underwriters, is an affiliate of BOKF, NA, the Trustee under the Indenture.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Settlement Date: The closing
will occur on May&nbsp;9, 2024, which will be more than two U.S. business days after the date of this pricing term sheet.&nbsp;Under Rule&nbsp;15c6-1
under the Securities Exchange Act of 1934, trades in the secondary market generally are required to settle in two business days unless
the parties to any such trade expressly agree otherwise. Accordingly, purchasers who wish to trade the senior notes on the date of pricing
will be required, by virtue of the fact that the senior notes initially will settle in T+3, to specify an alternative settlement cycle
at the time of any such trade to prevent failed settlement and should consult their own advisors.</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>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 calling J.P. Morgan Securities LLC at (212) 834-4533, MUFG Securities Americas Inc. at (877) 649-6848 or U.S. Bancorp Investments,&nbsp;Inc.
at (877) 558-2607.</B></P>

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

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