Free Writing Prospectus
Filed Pursuant to Rule 433
Registration Statement No. 333-181639
San Diego Gas & Electric Company
Final Term Sheet
September 4, 2013
This free writing prospectus relates only to the securities described below and should be read together with San Diego Gas & Electric Company’s preliminary prospectus supplement dated September 4, 2013 (the “Preliminary Prospectus Supplement”), the accompanying prospectus dated July 5, 2012 and the documents incorporated and deemed to be incorporated by reference therein.
| Issuer: |
San Diego Gas & Electric Company | |
| Securities Offered: |
3.60% First Mortgage Bonds, Series NNN, due 2023 | |
| Aggregate Principal Amount Offered: |
$450,000,000 | |
| Interest Payment Dates: |
March 1 and September 1, commencing March 1, 2014 | |
| Coupon: |
3.60%, accruing from September 9, 2013 | |
| Maturity: |
September 1, 2023 | |
| Yield to Maturity: |
3.602% | |
| Spread to Benchmark Treasury: |
+70 basis points | |
| Benchmark Treasury: |
2.50% due August 15, 2023 | |
| Benchmark Treasury Yield: |
2.902% | |
| Optional Redemption Provision: |
Prior to June 1, 2023, make-whole call at Adjusted Treasury Rate (as defined in the Preliminary Prospectus Supplement) + 12.5 basis points. On and after June 1, 2023, 100% of the principal amount. See the Preliminary Prospectus Supplement for the definition of “Adjusted Treasury Rate” and for further terms and provisions applicable to optional redemption. | |
| Price to Public: |
99.984%, plus accrued interest, if any | |
| Trade Date: |
September 4, 2013 | |
| Settlement Date: |
September 9, 2013 (T+3) | |
| CUSIP: |
797440BR4 | |
| ISIN: |
US797440BR49 | |
| 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: |
CastleOak Securities, L.P. J.P. Morgan Securities LLC RBS Securities Inc. BNP Paribas Securities Corp. U.S. Bancorp Investments, Inc. | |
| Co-Manager: |
C.L. King & Associates, 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 CastleOak Securities, L.P. toll-free at 1-800-955-6332, by calling J.P. Morgan Securities LLC collect at 1-212-834-4533, or by calling RBS Securities Inc. toll-free at 1-866-884-2071.
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