EX-25.3 13 e33482ex25-3.txt FORM T-1 Exhibit 25.3 ================================================================================ SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ------------------ FORM T-1 STATEMENT OF ELIGIBILITY UNDER THE TRUST INDENTURE ACT OF 1939 OF A CORPORATION DESIGNATED TO ACT AS TRUSTEE Check if an Application to Determine Eligibility of a Trustee Pursuant to Section 305(b)(2) --------------------------------------------------- U.S. BANK NATIONAL ASSOCIATION (Exact name of Trustee as specified in its charter) 31-0841368 I.R.S. Employer Identification No. -------------------------------------------------------------------------------- 800 Nicollet Mall Minneapolis, Minnesota 55402 -------------------------------------------------------------------------------- (Address of principal executive offices) (Zip Code) -------------------------------------------------------------------------------- Rick Barnes U.S. Bank National Association 21 South Street, 3rd Floor Morristown, New Jersey 07960 (973) 898-7161 (Name, address and telephone number of agent for service) Public Service Electric and Gas Company (Issuer with respect to the Securities) -------------------------------------------------------------------------------- New Jersey 22-1212800 -------------------------------------------------------------------------------- (State or other jurisdiction (I.R.S. Employer of incorporation or organization) Identification No.) -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- 80 Park Plaza Newark, New Jersey 07101 -------------------------------------------------------------------------------- (Address of Principal Executive Offices) (Zip Code) -------------------------------------------------------------------------------- Senior Debt Securities (Title of the Indenture Securities) FORM T-1 Item 1. GENERAL INFORMATION. Furnish the following information as to the Trustee. a) Name and address of each examining or supervising authority to which it is subject. Comptroller of the Currency Washington, D.C. b) Whether it is authorized to exercise corporate trust powers. Yes Item 2. AFFILIATIONS WITH OBLIGOR. If the obligor is an affiliate of the Trustee, describe each such affiliation. None Items 3-15 Items 3-15 are not applicable because to the best of the Trustee's knowledge, the obligor is not in default under any Indenture for which the Trustee acts as Trustee. Item 16. LIST OF EXHIBITS: List below all exhibits filed as a part of this statement of eligibility and qualification. 1. A copy of the Articles of Association of the Trustee.* 2. A copy of the certificate of authority of the Trustee to commence business.* 3. A copy of the certificate of authority of the Trustee to exercise corporate trust powers.* 4. A copy of the existing bylaws of the Trustee.** 5. A copy of each Indenture referred to in Item 4. Not applicable. 6. The consent of the Trustee required by Section 321(b) of the Trust Indenture Act of 1939, attached as Exhibit 6. 7. Report of Condition of the Trustee as of September 30, 2008 published pursuant to law or the requirements of its supervising or examining authority, attached as Exhibit 7. * Incorporated by reference to Exhibit 25.1 to Amendment No. 2 to registration statement on S-4, Registration Number 333-128217 filed on November 15, 2005. ** Incorporated by reference to Exhibit 25.1 to registration statement on S-4, Registration Number 333-145601 filed on August 21, 2007. 2 SIGNATURE Pursuant to the requirements of the Trust Indenture Act of 1939, as amended, the Trustee, U.S. BANK NATIONAL ASSOCIATION, a national banking association organized and existing under the laws of the United States of America, has duly caused this statement of eligibility and qualification to be signed on its behalf by the undersigned, thereunto duly authorized, all in the Town of Morristown, State of New Jersey on the 17th of November, 2008. By: /s/Rick Barnes ------------------------ Rick Barnes Vice President By: /s/Paul O'Brien ------------------------- Paul O'Brien Vice President 3 Exhibit 6 --------- CONSENT In accordance with Section 321(b) of the Trust Indenture Act of 1939, the undersigned, U.S. BANK NATIONAL ASSOCIATION hereby consents that reports of examination of the undersigned by Federal, State, Territorial or District authorities may be furnished by such authorities to the Securities and Exchange Commission upon its request therefor. Dated: November 17, 2008 By: /s/Rick Barnes ------------------------ Rick Barnes Vice President By: /s/Paul O'Brien ------------------------- Paul O'Brien Vice President 4 Exhibit 7 U.S. Bank National Association Statement of Financial Condition As of 9/30/2008 ($000's) 9/30/2008 ------------ Assets Cash and Balances Due From $7,232,911 Depository Institutions Securities 36,927,854 Federal Funds 3,517,817 Loans & Lease Financing Receivables 165,651,532 Fixed Assets 3,030,773 Intangible Assets 12,172,606 Other Assets 14,063,317 ------------ Total Assets $242,596,810 Liabilities Deposits $147,640,677 Fed Funds 13,500,584 Treasury Demand Notes 0 Trading Liabilities 488,249 Other Borrowed Money 43,752,578 Acceptances 0 Subordinated Notes and Debentures 7,379,967 Other Liabilities 6,540,570 ------------ Total Liabilities $219,302,625 Equity Minority Interest in Subsidiaries $1,679,593 Common and Preferred Stock 18,200 Surplus 12,057,621 Undivided Profits 9,538,771 ------------ Total Equity Capital $23,294,185 Total Liabilities and Equity Capital $242,596,810 -------------------------------------------------------------------------------- To the best of the undersigned's determination, as of the date hereof, the above financial information is true and correct. U.S. Bank National Association By: /s/ Rick Barnes ------------------------- Vice President Date: November 17, 2008 5