Free Writing Prospectus
Filed Pursuant to Rule 433
Registration Statement No. 333-159046
San Diego Gas & Electric Company
Final Term Sheet
March 19, 2012
| Issuer: | San Diego Gas & Electric Company | |
| Securities Offered: | 4.300% First Mortgage Bonds, Series MMM, due 2042 | |
| Aggregate Principal Amount Offered: | $250,000,000 | |
| Interest Payment Dates: | April 1 and October 1, commencing October 1, 2012 | |
| Coupon: | 4.300%, accruing from March 22, 2012 | |
| Maturity: | April 1, 2042 | |
| Yield to Maturity: | 4.331% | |
| Spread to Benchmark Treasury: | + 85 basis points | |
| Benchmark Treasury: | 3.125% due November 15, 2041 | |
| Benchmark Treasury Yield: | 3.481% | |
| Optional Redemption Provision: | Make Whole Call Adjusted Treasury Rate + 15 basis points prior to October 1, 2041 and at 100% of principal amount on and after October 1, 2041 | |
| Price to Public: | 99.481%, plus accrued interest, if any | |
| Trade Date: | March 19, 2012 | |
| Settlement Date: | March 22, 2012 (T+3) | |
| CUSIP: | 797440BQ6 | |
| ISIN: | US797440BQ65 | |
| 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: | Credit Agricole Securities (USA) Inc. | |
| Goldman, Sachs & Co. | ||
| * | Note: A securities rating is not a recommendation to buy, sell or hold securities and is subject to revision or withdrawal at any time. |
| Mitsubishi UFJ Securities (USA), Inc. | ||
| Samuel A. Ramirez & Company, Inc. | ||
| Co-Managers: |
Blaylock Robert Van, LLC | |
| Mischler Financial Group, Inc. | ||
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 Credit Agricole Securities (USA) Inc. toll-free at 1-866-807-6030, by calling Goldman, Sachs & Co. toll-free at 1-866-471-2526, by calling Mitsubishi UFJ Securities (USA), Inc. toll-free at 1-877-649-6848, or by calling Samuel A. Ramirez & Company, Inc. toll-free at 800-888-4086.
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