Filed Pursuant to Rule 433
Registration No. 333-161489-02
Free Writing Prospectus dated September 6, 2011
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Issuer: | | The Detroit Edison Company |
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Security: | | 2011 Series H 4.50% General and Refunding Mortgage Bonds due 2041 |
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Size: | | $140,000,000 |
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Maturity Date: | | September 1, 2041 |
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Coupon: | | 4.50% |
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Interest Payment Dates: | | March 1 and September 1, commencing March 1, 2012 |
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Price to Public: | | 98.866% |
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Spread to Benchmark Treasury: | | +135 bps |
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Benchmark Treasury: | | 4.375% due May 15, 2041 |
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Benchmark Treasury Yield: | | 3.220% |
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Re-offer Yield: | | 4.570% |
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Make-whole call: | | Prior to March 1, 2041 at Treasury plus 20 bps |
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Par Call: | | On or after March 1, 2041 |
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Trade Date: | | September 6, 2011 |
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Settlement Date: | | T+10; September 20, 2011 |
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CUSIP: | | 250847 EH9 |
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Anticipated Ratings:* | | A2/A/A- (Moody’s/S&P/Fitch) |
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Joint Book-Running Managers: | | Merrill Lynch, Pierce, Fenner & Smith Incorporated Barclays Capital Inc. KeyBanc Capital Markets Inc. |
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Co-Managers: | | Comerica Securities, Inc. Mitsubishi UFJ Securities (USA), Inc. U.S. Bancorp Investments, Inc. |
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* | 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 Merrill Lynch, Pierce, Fenner & Smith Incorporated toll-free at1-800-294-1322, Barclays Capital Inc. toll-free at888 603 5847 or KeyBanc Capital Markets Inc. at866-227-6479.