Free Writing Prospectus
Filed pursuant to Rule 433
Registration No. 333-141425-02
March 3, 2010
Western Massachusetts Electric Company
Pricing Term Sheet
Issuer: | Western Massachusetts Electric Company |
Security: | $95,000,000 5.10% Senior Notes, Series E, due 2020 |
Maturity: | March 1, 2020 |
Coupon: | 5.10% |
Price to Public: | 99.646% of face amount |
Yield to Maturity: | 5.146% |
Spread to Benchmark Treasury: | +150 basis points |
Benchmark Treasury: | 3.625% due February 15, 2020 |
Benchmark Treasury Rate: | 99-26+ |
Benchmark Treasury Yield: | 3.646% |
Interest Payment Dates: | March 1 and September 1, commencing September 1, 2010 |
Redemption Provisions: |
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Make-whole call: | At any time at a discount rate of Treasury plus 25 basis points |
Settlement: | March 8, 2010 |
CUSIP: | 958587 BH9 |
Ratings: | Baa2 by Moody’s Investors Service |
| BBB by Standard & Poor’s Ratings Services |
| BBB+ by Fitch Ratings |
Joint Book-Running Managers: | BNY Mellon Capital Markets, LLC |
| Citigroup Global Markets Inc. |
Co-Managers: | Mitsubishi UFJ Securities (USA), Inc. |
| TD Securities (USA) LLC |
The pro forma ratio of consolidated earnings to fixed charges for the year ended December 31, 2009 was 2.63x.
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 BNY Mellon Capital Markets, LLC collect at 1-212-635-8974 or Citigroup Global Markets Inc. toll-free at 1-877-858-5407.