Filed Pursuant to Rule 433
Registration Statement No. 333-196220-03
Dated February 23, 2015
Commonwealth Edison Company
First Mortgage 3.70% Bonds, Series 118, due 2045
February 23, 2015
Pricing Term Sheet
| Issuer: | Commonwealth Edison Company | |
| Ratings*: | A2 (Moody’s) / A- (S&P) / A- (Fitch) | |
| Securities: | First Mortgage 3.70% Bonds, Series 118 | |
| Principal Amount: | $400,000,000 | |
| Trade Date: | February 23, 2015 | |
| Settlement Date: | March 2, 2015 (T+5) | |
| Interest Payment Dates: | March 1 and September 1 of each year, commencing September 1, 2015 | |
| Maturity: | March 1, 2045 | |
| Coupon: | 3.70% | |
| Benchmark Treasury: | 3.00% due November 15, 2044 | |
| Benchmark Treasury Price / Yield: | 106-23+ / 2.67% | |
| Spread to Benchmark Treasury: | +103 basis points | |
| Yield to Maturity: | 3.70% | |
| Price to Public: | 100.00% | |
| Redemption Provisions: | At any time prior to September 1, 2044, at a make whole price equal to the greater of (a) 100% of the principal amount or (b) discounted to the redemption date on a semi-annual basis at the Adjusted Treasury Rate plus 20 basis points; and on or after September 1, 2044, at 100% of the principal; plus, in each case, accrued and unpaid interest to, but excluding, the redemption date | |
| CUSIP/ ISIN: | 202795 JF8 / US202795JF88 | |
| Joint Book-Running Managers: | BNP Paribas Securities Corp. RBS Securities Inc. U.S. Bancorp Investments, Inc. Credit Agricole Securities (USA) Inc. SMBC Nikko Securities America, Inc. | |
| Senior Co-Manager: | KeyBanc Capital Markets Inc. | |
| Co-Managers: | Great Pacific Securities Melvin Securities, LLC |
*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 BNP Paribas Securities Corp. at (800) 854-5674, RBS Securities Inc. at (866) 884-2071 or U.S. Bancorp Investments, Inc. toll-free at (877) 558-2607.
