美国水务美股招股说明书(2026-05-19版)

$500,000,000 4.625% Senior Notes due 2029 This is an offering by American Water Capital Corp., which is referred to as AWCC or the issuer, of its 4.625% Senior Notes due 2029, which are referred to as thenotes. The issuer will pay interest semi-annually in arrears on the notes on June1 and December1 of each year, beginning on December1, 2026. The notes will matureon June1, 2029. However, the issuer may at any time and from time to time redeem all or a portion of the notes, in each case at the applicable redemption prices set forthin this prospectus supplement under “Description of the Notes—Optional Redemption by the Issuer.” The notes will be issued only in registered form and indenominations of $1,000 and integral multiples of $1,000 in excess thereof. The notes will be unsecured, will rank equal in right of payment with the issuer’s existing and future senior debt and will rank senior in right of payment to theissuer’s future subordinated debt. The notes will rank effectively junior in right of payment to all of the issuer’s future secured indebtedness to the extent of the value ofthe assets securing such indebtedness. The notes will have the benefit of a support agreement from American Water Works Company, Inc., the issuer’s parent company.The notes will not be guaranteed by any of American Water Works Company, Inc.’s subsidiaries. The issuer is a finance subsidiary whose activities are limited toborrowing funds and issuing its debt securities, and lending proceeds from those financing activities under loan agreements with American Water Works Company, Inc.and subsidiaries comprising its regulated utility operations. Investing in these notes involves risks. See “Risk Factors” beginning on pageS-6 of this prospectus supplement to read about factors youshould consider before buying these notes. Neither the Securities and Exchange Commission nor any state securities commission or other regulatory body has approved or disapproved of thesesecurities or passed upon the adequacy or accuracy of this prospectus supplement or the accompanying prospectus. Any representation to the contrary is acriminal offense. (1)Plus accrued interest from May20, 2026, if settlement occurs after that date. The underwriters expect to deliver the notes in book-entry form only through the facilities of The Depository Trust Company for the accounts of its participants,including Clearstream Banking,société anonyme, and Euroclear Bank SA/NV, as operator of the Euroclear system, against payment in New York, New York on or aboutMay20, 2026. LoopCapitalMarkets TABLE OF CONTENTS ABOUT THIS PROSPECTUS SUPPLEMENTWHERE YOU CAN FIND MORE INFORMATIONFORWARD-LOOKING STATEMENTSPROSPECTUS SUPPLEMENT SUMMARYRISK FACTORSUSE OF PROCEEDSDESCRIPTION OF THE NOTESCERTAIN UNITED STATES FEDERAL INCOME TAX CONSIDERATIONSUNDERWRITINGConflicts of InterestLEGAL MATTERSEXPERTS PROSPECTUS RISK FACTORSABOUT THIS PROSPECTUSFORWARD-LOOKING STATEMENTSAMERICAN WATER WORKS COMPANY, INC.AMERICAN WATER CAPITAL CORP.USE OF PROCEEDSSELLING SECURITY HOLDERSDESCRIPTION OF CAPITAL STOCKDESCRIPTION OF AWCC DEBT SECURITIES AND AMERICAN WATER SUPPORT AGREEMENTDESCRIPTION OF DEPOSITARY SHARESDESCRIPTION OF STOCK PURCHASE CONTRACTS AND STOCK PURCHASE UNITSDESCRIPTION OF SUBSCRIPTION RIGHTSDESCRIPTION OF WARRANTSPLAN OF DISTRIBUTIONLEGAL MATTERSEXPERTSWHERE YOU CAN FIND MORE INFORMATION ABOUT THIS PROSPECTUS SUPPLEMENT All references in this prospectus supplement to “American Water” and the “Company” refer to American Water Works Company, Inc. and itsconsolidated subsidiaries taken together as a whole, except in the sections entitled “Where You Can Find More Information,” “Use of Proceeds,”“Description of the Notes,” “Underwriting,” and “Legal Matters,” where such terms shall refer to American Water Works Company, Inc.and not to anyof its subsidiaries, in each case unless the context otherwise requires. All references in this prospectus supplement to the “support provider” refer toAmerican Water Works Company, Inc., without its subsidiaries, unless the context otherwise requires. All references in this prospectus supplement to“AWCC” or the “issuer” refer to American Water Capital Corp. This document is in two parts. The first part is this prospectus supplement, which describes the specific terms of this offering and certain othermatters. The second part, the accompanying prospectus, gives more general information about the issuer, American Water and their securities. Generally,the reference to “this prospectus” is to both parts of this document combined. To the extent information in this prospectus supplement conflicts withinformation in the accompanying prospectus, you should rely on the information in this prospectus supplement. Neither AWCC nor American Water Works Company, Inc. is making an offer or sale of these securities in any jurisdiction where the offer or saleis not permitted. You should assume that the information in this prospectus supplement or in the