Filed Pursuant to Rule 433
Registration No. 333-128517
December 5, 2005
Union Electric Company
Pricing Term Sheet
| Union Electric Company d/b/a AmerenUE | |
Size: |
| $260,000,000 Senior Secured Notes |
Maturity: |
| February 1, 2016 |
Coupon: |
| 5.40% |
Price: |
| 99.716% of face amount |
Net Proceeds (after expenses): |
| $257,321,600 |
Yield to Maturity: |
| 5.435% |
Spread to Benchmark Treasury: |
| 0.87% |
Benchmark Treasury: |
| 4.50% due November 2015 |
Benchmark Treasury Yield: |
| 4.565% |
Interest Payment Dates: |
| February 1 and August 1, commencing August 1, 2006 |
Redemption Provisions: |
|
|
Make-whole call: |
| At any time at a discount rate of Treasury plus 15 basis points |
Security: |
| Until the release date, the Senior Secured Notes will be secured by a series of the issuer’s first mortgage bonds |
Settlement: |
| T+3; December 8, 2005 |
CUSIP: |
| 02360FAC0 |
Ratings: |
| A1 by Moody’s Investors Service, Inc. and BBB+ by Standard & Poor’s Ratings Services |
Note: A securities rating is not a recommendation to buy, sell or hold securities and may be 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 Web site 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 Barclays Capital Inc. toll-free 1-888-227-2275, ext. 2663, BNY Capital Markets, Inc. collect 1-212-635-8974 or J.P. Morgan Securities Inc. collect 1-212-834-4533.
