0001193125-11-081370.txt : 20110329 0001193125-11-081370.hdr.sgml : 20110329 20110329164252 ACCESSION NUMBER: 0001193125-11-081370 CONFORMED SUBMISSION TYPE: FWP PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20110329 DATE AS OF CHANGE: 20110329 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: ATLANTIC CITY ELECTRIC CO CENTRAL INDEX KEY: 0000008192 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 210398280 STATE OF INCORPORATION: NJ FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: FWP SEC ACT: 1934 Act SEC FILE NUMBER: 333-169477-01 FILM NUMBER: 11719163 BUSINESS ADDRESS: STREET 1: 800 KING STREET STREET 2: PO BOX 231 CITY: WILMINGTON STATE: DE ZIP: 19899 BUSINESS PHONE: 6096454100 MAIL ADDRESS: STREET 1: 800 KING STREET STREET 2: PO BOX 231 CITY: WILMINGTON STATE: DE ZIP: 19899 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: ATLANTIC CITY ELECTRIC CO CENTRAL INDEX KEY: 0000008192 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 210398280 STATE OF INCORPORATION: NJ FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: FWP BUSINESS ADDRESS: STREET 1: 800 KING STREET STREET 2: PO BOX 231 CITY: WILMINGTON STATE: DE ZIP: 19899 BUSINESS PHONE: 6096454100 MAIL ADDRESS: STREET 1: 800 KING STREET STREET 2: PO BOX 231 CITY: WILMINGTON STATE: DE ZIP: 19899 FWP 1 dfwp.htm FREE WRITING PROSPECTUS FREE WRITING PROSPECTUS

Filed Pursuant to Rule 433

Registration No. 333-169477-01

March 29, 2011

ATLANTIC CITY ELECTRIC COMPANY

$200,000,000

First Mortgage Bonds, 4.35% Series due April 1, 2021

PRICING TERM SHEET

 

Issuer:

    Atlantic City Electric Company

Issue:

    First Mortgage Bonds, 4.35% Series due April 1, 2021

Ratings:*

    A3/A/A- (Moody’s/S&P/Fitch)

Offering Size:

    $200,000,000

Coupon:

    4.35%

Trade Date:

    March 29, 2011

Settlement Date:

    April 5, 2011 (T+5)

Stated Maturity:

    April 1, 2021

Initial Public Offering Price:

    99.848% per Bond

Proceeds to Issuer (before expenses):

    $198,396,000

Yield to Maturity:

    4.369%

Benchmark Treasury:

    3.625% due February 15, 2021

Benchmark Treasury Yield:

    3.469%

Spread to Benchmark Treasury:

    +90 bps

Optional Redemption:

   

Make-whole call at any time prior to January 1, 2021 at 15 bps spread over Benchmark Treasury.

 

Callable on or after January 1, 2021 at par.

Interest Payment Dates:

    April 1 and October 1 of each year, commencing October 1, 2011

CUSIP Number/ISIN:

    048303CE9/US048303CE96

Joint Book-Running Managers:

   

Citigroup Global Markets Inc.

Scotia Capital (USA) Inc.

Wells Fargo Securities, LLC

Co-Manager:

    The Williams Capital Group, L.P.

* A security rating is not a recommendation to buy, sell or hold securities and should be evaluated independently of any other rating. The rating is subject to revision or withdrawal at any time by the assigning rating organization. Each security rating agency has its own methodology for assigning ratings, and, accordingly, each rating should be considered independently of all other ratings.

The issuer has filed a registration statement (including a prospectus and a preliminary prospectus supplement) with the Securities and Exchange Commission, or SEC, for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement, the preliminary prospectus supplement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may obtain these documents for free by visiting EDGAR on the SEC website 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 Citigroup Global Markets Inc. toll-free at 1-877-858-5407, Scotia Capital (USA) Inc. toll-free at 1-800-372-3930 or Wells Fargo Securities, LLC toll-free at 1-800-326-5897.