0001193125-13-367869.txt : 20130916 0001193125-13-367869.hdr.sgml : 20130916 20130916160409 ACCESSION NUMBER: 0001193125-13-367869 CONFORMED SUBMISSION TYPE: FWP PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20130916 DATE AS OF CHANGE: 20130916 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: PECO ENERGY CO CENTRAL INDEX KEY: 0000078100 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC & OTHER SERVICES COMBINED [4931] IRS NUMBER: 230970240 STATE OF INCORPORATION: PA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: FWP SEC ACT: 1934 Act SEC FILE NUMBER: 333-181749-03 FILM NUMBER: 131098922 BUSINESS ADDRESS: STREET 1: 2301 MARKET ST STREET 2: P O BOX 8699 CITY: PHILADELPHIA STATE: PA ZIP: 19101 BUSINESS PHONE: 2158414000 FORMER COMPANY: FORMER CONFORMED NAME: PHILADELPHIA ELECTRIC CO DATE OF NAME CHANGE: 19920703 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: PECO ENERGY CO CENTRAL INDEX KEY: 0000078100 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC & OTHER SERVICES COMBINED [4931] IRS NUMBER: 230970240 STATE OF INCORPORATION: PA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: FWP BUSINESS ADDRESS: STREET 1: 2301 MARKET ST STREET 2: P O BOX 8699 CITY: PHILADELPHIA STATE: PA ZIP: 19101 BUSINESS PHONE: 2158414000 FORMER COMPANY: FORMER CONFORMED NAME: PHILADELPHIA ELECTRIC CO DATE OF NAME CHANGE: 19920703 FWP 1 d595015dfwp.htm FWP FWP

Filed Pursuant to Rule 433

Registration Statement No. 333-181749-03

Dated September 16, 2013

PECO Energy Company

$300,000,000 First and Refunding Mortgage Bonds, 1.200% Series Due 2016

Pricing Term Sheet

 

Issuer:    PECO Energy Company
Ratings:    A1 (Moody’s); A- (S&P); A (Fitch)
Securities:    First and Refunding Mortgage Bonds
Settlement Date:    September 23, 2013
Principal Amount:    $300,000,000
Maturity:    October 15, 2016
Coupon:    1.200%
Benchmark Treasury:    0.875% due September 15, 2016
Benchmark Treasury Price and Yield:    100-07 1/4; 0.798%
Spread to Benchmark Treasury:    45 basis points
Yield to Maturity:    1.248%
Offering Price:    99.856%
Interest Payment Dates:    April 15 and October 15 of each year, commencing April 15, 2014
Redemption Provisions:    At the greater of (i) 100% of the principal amount of the bonds to be redeemed or (ii) the sum of the present values of the remaining scheduled payments of principal and interest on the bonds to be redeemed (excluding interest accrued to the redemption date) discounted to the redemption date on a semi-annual basis (assuming a 360-day year comprised of twelve 30-day months) at the Treasury rate plus 10 basis points, plus, in each case accrued interest to the redemption date
CUSIP:    693304 AQ0
Joint Book Running Managers:   

Merrill Lynch, Pierce, Fenner & Smith

                     Incorporated

Credit Suisse Securities (USA) LLC

Wells Fargo Securities, LLC

Mizuho Securities USA Inc.

RBC Capital Markets, LLC

Senior Co-Managers:   

BNY Mellon Capital Markets, LLC

KeyBanc Capital Markets Inc.

Co-Managers:   

Blaylock Robert Van, LLC

Muriel Siebert & Co., Inc.

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.

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 Merrill Lynch, Pierce, Fenner & Smith Incorporated at (800) 294-1322, Credit Suisse Securities (USA) LLC at (800) 221-1037 and Wells Fargo Securities, LLC at (800) 326-5897.

PECO Energy Company

$250,000,000 First and Refunding Mortgage Bonds, 4.800% Series Due 2043

Pricing Term Sheet

 

Issuer:    PECO Energy Company
Ratings:    A1 (Moody’s); A- (S&P); A (Fitch)
Securities:    First and Refunding Mortgage Bonds
Settlement Date:    September 23, 2013
Principal Amount:    $250,000,000
Maturity:    October 15, 2043
Coupon:    4.800%
Benchmark Treasury:    2.875% due May 15, 2043
Benchmark Treasury Price and Yield:    82-06; 3.893%
Spread to Benchmark Treasury:    93 basis points
Yield to Maturity:    4.823%
Offering Price:    99.633%
Interest Payment Dates:    April 15 and October 15 of each year, commencing April 15, 2014
Redemption Provisions:   

At any time prior to April 15, 2043, at the greater of (i) 100% of the principal amount of the bonds to be redeemed or (ii) the sum of the present values of the remaining scheduled payments of principal and interest on the bonds to be redeemed (excluding interest accrued to the redemption date) discounted to the redemption date on a semi-annual basis (assuming a 360-day year comprised of twelve 30-day months) at the Treasury rate plus 15 basis points, plus, in each case accrued interest to the redemption date

At any time on or after April 15, 2043, at 100% of the principal amount, plus accrued interest to the redemption date

CUSIP:    693304 AR8
Joint Book Running Managers:   

Merrill Lynch, Pierce, Fenner & Smith

                     Incorporated

Credit Suisse Securities (USA) LLC

Wells Fargo Securities, LLC

Mizuho Securities USA Inc.

RBC Capital Markets, LLC

Senior Co-Managers:   

BNY Mellon Capital Markets, LLC

KeyBanc Capital Markets Inc.

Co-Managers:   

Blaylock Robert Van, LLC

Muriel Siebert & Co., Inc.

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.

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 Merrill Lynch, Pierce, Fenner & Smith Incorporated at (800) 294-1322, Credit Suisse Securities (USA) LLC at (800) 221-1037 and Wells Fargo Securities, LLC at (800) 326-5897.