| Issuer: | System Energy Resources, Inc. | |
| Security Type: | First Mortgage Bonds (Publicly Registered) | |
Expected Ratings(1): | Baa1 (stable outlook) by Moody’s Investors Service BBB+ (stable outlook) by Standard & Poor’s Ratings Services | |
| Trade Date: | September 20, 2012 | |
| Settlement Date (T+3): | September 25, 2012 | |
| Principal Amount: | $250,000,000 | |
| Coupon: | 4.10% | |
| Coupon Payment Dates: | April 1 and October 1 of each year | |
| First Payment Date: | April 1, 2013 | |
| Final Maturity: | April 1, 2023 | |
| Optional Redemption Terms: | Make-whole call at any time prior to January 1, 2023 at a discount rate of Treasury plus 40 bps and, thereafter, at par | |
| Spread to UST Benchmark: | +237.5 bps | |
| UST Benchmark: | 1.625% due August 15, 2022 | |
| Treasury Price: | 98-28+ | |
| Treasury Yield: | 1.747% | |
| Re-offer Yield: | 4.122% | |
| Issue Price to Public: | 99.813% | |
| Net Proceeds Before Expenses: | $247,907,500.00 | |
| Joint Book-Running Managers: | Barclays Capital Inc. KeyBanc Capital Markets Inc. RBS Securities Inc. Scotia Capital (USA) Inc. | |
| Co-Managers: | BNP Paribas Securities Corp. Deutsche Bank Securities Inc. | |
| CUSIP / ISIN: | 871911 AS2 / US871911AS26 |
1 A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time. |
