Filed Pursuant to Rule 433
Registration No. 333-128517
June 12, 2007
Pricing Term Sheet
| Issuer: | Union Electric Company d/b/a AmerenUE | |
| Ratings: | A3 (negative outlook)/BBB- (negative credit watch)/A+ (negative outlook) | |
| Issue: | Senior Secured Notes due 2017 | |
| Offering Size: | $425,000,000 | |
| Coupon: | 6.400% per annum | |
| Trade Date: | June 12, 2007 | |
| Settlement Date: | June 15, 2007 | |
| Maturity: | June 15, 2017 | |
| Treasury Benchmark: | 4.500% due May 15, 2017 | |
| US Treasury Spot: | 94-10 | |
| US Treasury Yield: | 5.242% | |
| Spread to Treasury: | 117 basis points | |
| Re-offer Yield: | 6.412% | |
| Price to Public (Issue Price): | 99.912% | |
| Gross Proceeds: | $424,626,000 | |
| Net Proceeds: | $421,863,500 | |
| Interest Payment Dates: | June 15 and December 15, commencing December 15, 2007 | |
| Optional Redemption: | Make-Whole Call, at any time at a discount rate of Treasury plus 20 basis points | |
| Security: | Until the release date, the Senior Secured Notes will be secured by a series of the issuer's first mortgage bonds | |
| CUSIP: | 906548CE0 | |
| Minimum Denomination: | $2,000 × $1,000 | |
| Joint Bookrunners: | BNY Capital Markets, Inc., Goldman, Sachs & Co. and UBS Securities LLC |
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 BNY Capital Markets, Inc. collect at 1-212-635-8974, Goldman, Sachs & Co. toll-free at 1-866-471-2526 or UBS Securities LLC toll-free at 1-888-722-9555, ext. 1088.
