Free Writing Prospectus
Filed Pursuant to Rule 433
Registration Statement No. 333-159046
San Diego Gas & Electric Company
Final Term Sheet
November 14, 2011
| Issuer: | San Diego Gas & Electric Company | |
| Securities Offered: | 3.950% First Mortgage Bonds, Series LLL, due 2041 | |
| Aggregate Principal Amount Offered: | $250,000,000 | |
| Interest Payment Dates: | May 15 and November 15, commencing May 15, 2012 | |
| Coupon: | 3.950%, accruing from November 17, 2011 | |
| Maturity: | November 15, 2041 | |
| Yield to Maturity: | 3.958% | |
| Spread to Benchmark Treasury: | 90 basis points | |
| Benchmark Treasury: | 3.750% due August 15, 2041 | |
| Benchmark Treasury Yield: | 3.058% | |
| Optional Redemption Provision: | Make Whole Call Adjusted Treasury Rate + 15 basis points | |
| Price to Public: | 99.860%, plus accrued interest, if any | |
| Trade Date: | November 14, 2011 | |
| Settlement Date: | November 17, 2011 (T+3) | |
| CUSIP: | 797440BP8 | |
| ISIN: | US797440BP82 | |
| Anticipated Ratings*: | Aa3 (stable) by Moody’s Investors Service | |
| A+ (stable) by Standard & Poor’s Ratings Services | ||
| AA- (stable) by Fitch Ratings | ||
| Joint Book-Running Managers: | BNP Paribas Securities Corp. | |
| Loop Capital Markets LLC | ||
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | ||
| Morgan Stanley & Co. LLC | ||
| Co-Managers: | Lloyds Securities Inc. | |
| SL Hare Capital, Inc. | ||
| * | Note: A securities rating is not a recommendation to buy, sell or hold securities and is 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 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 BNP Paribas Securities Corp. toll-free at 1-800-854-5674, by calling Loop Capital Markets LLC toll-free at 1-888-294-8898, by calling Merrill Lynch, Pierce, Fenner & Smith Incorporated toll-free at 1-800-294-1322 or by email to dg.prospectus_requests@baml.com, or by calling Morgan Stanley & Co. LLC toll-free at 1-866-718-1649.
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