Filed pursuant to Rule 433

dated August 3, 2023

Relating to

Preliminary Pricing Supplement dated August 3, 2023

to Prospectus Supplement dated March 9, 2022 and

Prospectus dated November 20, 2020

Registration Statement No. 333-250829

Pricing Term Sheet for 5.450% Secured Medium-Term Notes, Series P, due August 1, 2053

PUBLIC SERVICE ELECTRIC AND GAS COMPANY (PSE&G)

Issuer: Public Service Electric and Gas Company Trade Date: August 3, 2023 Original Issue Date/Settlement Date: August 7, 2023 Principal Amount: $400,000,000 Price to Public: 99.752% of Principal Amount, plus accrued interest, if any, from August 7, 2023 if settlement occurs after that date Interest Rate: 5.450% per annum Interest Payment Dates: February 1 and August 1, commencing February 1, 2024 Redemption: As specified in Preliminary Pricing Supplement dated August 3, 2023. Make whole amount prior to February 1, 2053 to be determined at a discount rate equal to the Treasury Rate plus 20 basis points (0.200%). Maturity Date: August 1, 2053 CUSIP: 74456QCP9 Joint Book-Running Managers: Mizuho Securities USA LLC ($69,000,000) Scotia Capital (USA) Inc. ($69,000,000) TD Securities (USA) LLC ($69,000,000) Wells Fargo Securities, LLC ($69,000,000) PNC Capital Markets LLC ($57,000,000) Co-Managers: BNY Mellon Capital Markets, LLC ($17,000,000) CIBC World Markets Corp. ($17,000,000) MUFG Securities Americas Inc. ($17,000,000) AmeriVet Securities, Inc. ($8,000,000) MFR Securities, Inc. ($8,000,000)

The issuer has filed a registration statement (including a prospectus, a prospectus supplement and a preliminary pricing supplement) with the Securities and Exchange Commission (the “SEC”) for the offering to which this communication relates. Before you invest, you should read the prospectus, the prospectus supplement and the preliminary pricing supplement 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’s Web site at www.sec.gov. Alternatively, the issuer or any underwriter participating in the offering will arrange to send you these documents if you request them by calling Mizuho Securities USA LLC toll-free at (866) 271-7403, Scotia Capital (USA) LLC toll-free at (800) 372-3930, TD Securities (USA) LLC toll-free at (855) 495-9846 or Wells Fargo Securities, LLC toll-free at (800) 645-3751.