Pseg Nuclear 424B3 Prospectus supplement

Filed Under Rule 424(b)(3), Registration Statement(s) No. 333-153745, 333-153745-01, 333-153745-02 and 333-153745-03
Pricing Supplement Number 2 Dated Monday, January 26, 2009
(To: Prospectus Dated January 12, 2009 and Prospectus Supplement Dated January 12, 2009)
 

CUSIP Number

Selling Price1

Gross Concession

Net Proceeds

Coupon Type

Coupon Rate

Coupon Frequency

Maturity Date

1st Coupon Date

1st Coupon Amount

Survivor’s Option*

Product Ranking

Moody’s Rating2

S & P Rating2

Fitch Rating2

69362HAB5

100.000%

0.750%

$47,732,302.50

FIXED

6.000%

SEMI-ANNUAL

01/15/2013

07/15/2009

$27.67

YES

Senior Unsecured Notes

Baa1

BBB

BBB+

Redemption Information: Callable at 100.000% on 01/15/2010 and on 30 days prior notice thereafter.
Joint Lead Managers and Lead Agents: Banc of America Securities LLC, Incapital, LLC Agents: Charles Schwab & Company, Inc., Citi, Fidelity Capital Markets, a division of National Financial Services, LLC, Merrill Lynch & Co., Morgan Stanley, RBC Capital Markets Corporation, UBS Investment Bank, Wachovia Securities. The PSEG Power InterNotes will be subject to redemption at the option of PSEG Power, in whole or in part at any time on or after 01/15/2010 at a redemption price equal to 100% of the principal amount of the PSEG Power InterNotes, plus accrued interest thereon, if any, upon at least 30 days prior notice to the noteholder and the Trustee, as described in the prospectus supplement.
 

PSEG Power Offering Dates: Tuesday, January 20, 2009 through Monday, January 26, 2009
Trade Date: Monday, January 26, 2009
Settle Date: Thursday, January 29, 2009 
Minimum Denomination/Increments: $1,000.00/$1,000.00
Initial trades settle flat and clear SDFS: DTC Book Entry only
DTC number: 0235 via RBC Capital Markets Corporation If the maturity date or an interest payment date for any note is not a business day (as term is defined in prospectus supplement), principal, premium, if any, and interest for that note is paid on the next business day, and no interest will accrue from, and after, the maturity date or interest payment date. InterNotes® is a registered trademark of Incapital Holdings LLC.  All rights reserved PSEG Power
$500,000,000.00 PSEG Power InterNotes
Prospectus Dated 12-Jan-09 and Prospectus supplement Dated: 12-Jan-09
 

¹Prices are quoted as a percentage of par.
²Ratings may be changed, suspended, or withdrawn at any time and are not a recommendation to buy, hold or sell any security.
*The limit for any individual deceased beneficial owner is $250,000 annually. The limit in the aggregate is the greater of $2,000,000 or 2% of the outstanding principal amount of PSEG Power InterNotes as of the end of the most recent calender year. For complete details see the prospectus and prospectus supplement.