TERM SHEET
Filed Pursuant to Rule 433
Registration No. 333-128517
April 1, 2008
Pricing Term Sheet
Issuer: |
| Union Electric Company d/b/a AmerenUE |
Ratings: |
| A3/BBB/A+ |
Issue: |
| Senior Secured Notes due 2018 |
Offering Size: |
| $250,000,000 |
Coupon: |
| 6.00% per annum |
Trade Date: |
| April 1, 2008 |
Settlement Date: |
| April 8, 2008 |
Maturity: |
| April 1, 2018 |
Treasury Benchmark: |
| 3.5% due February 15, 2018 |
US Treasury Spot: |
| 99-21 |
US Treasury Yield: |
| 3.541% |
Spread to Treasury: |
| +250 basis points |
Re-offer Yield: |
| 6.041% |
Price to Public (Issue Price): |
| 99.698% |
Gross Proceeds: |
| $249,245,000 |
Interest Payment Dates: |
| April 1 and October 1, commencing October 1, 2008 |
Optional Redemption: |
| Make-Whole Call, at any time at a discount rate of Treasury plus 40 basis points |
Security: |
| The Senior Secured Notes will be secured by a series of the issuer’s first mortgage bonds |
CUSIP: |
| 906548CF7 |
Minimum Denomination: |
| $2,000 x $1,000 |
Joint Bookrunners: |
| Goldman, Sachs & Co. and J.P. Morgan Securities Inc. |
Co-managers: |
| Lazard Capital Markets LLC and Morgan Keegan & Company, 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 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 Goldman, Sachs & Co. toll-free at 1-866-471-2526 or J.P. Morgan Securities Inc. collect at (212) 834-4533.
