Filed Pursuant to Rule 433
Registration No. 333-161489-02
Free Writing Prospectus dated June 19, 2012
THE DETROIT EDISON COMPANY
TERM SHEET
$250,000,000 2012 Series A 2.65% General and Refunding Mortgage Bonds due 2022
$250,000,000 2012 Series B 3.95% General and Refunding Mortgage Bonds due 2042
Issuer: | The Detroit Edison Company | |||
Trade Date: | June 19, 2021 | |||
Settlement Date: | T+3; June 22, 2012 | |||
Anticipated Ratings:* | A2/A/A (Moody’s/S&P/Fitch) | |||
Joint Book-Running Managers: | Barclays Capital Inc. J.P. Morgan Securities LLC RBS Securities Inc. Scotia Capital (USA) Inc. | |||
Senior Co-Managers: | Deutsche Bank Securities Inc. Mitsubishi UFJ Securities (USA), Inc. | |||
Co-Managers: | U.S. Bancorp Investments, Inc. SunTrust Robinson Humphrey, Inc. The Williams Capital Group, L.P. The Huntington Investment Company | |||
Security: | Series A 2.65% General and Refunding Mortgage Bonds due 2022 | Series B 3.95% General and Refunding Mortgage Bonds due 2042 | ||
Principal Amount: | $250,000,000 | $250,000,000 | ||
Maturity Date: | June 15, 2022 | June 15, 2042 | ||
Coupon: | 2.65% | 3.95% | ||
Interest Payment Dates: | June 15 and December 15, commencing December 15, 2012 | June 15 and December 15, commencing December 15, 2012 | ||
Price to Public: | 99.844% | 99.565% | ||
Spread to Benchmark Treasury: | +105 bps | +125 bps | ||
Benchmark Treasury: | 1.75% due May 15, 2022 | 3.125% due February 15, 2042 | ||
Benchmark Treasury Yield: | 1.618% | 2.725% | ||
Re-offer Yield: | 2.668% | 3.975% | ||
Make-whole call: | Prior to March 15, 2022 at Treasury plus 15 bps | Prior to December 15, 2041 at Treasury plus 20 bps | ||
Par Call: | On or after March 15, 2022 | On or after December 15, 2041 | ||
CUSIP: | 250847 EJ5 | 250847 EK2 | ||
*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 Barclays Capital Inc. toll-free at 888 603 5847, J.P. Morgan Securities LLC collect at 1-212-834-4533, RBS Securities Inc. toll-free at 1-866-884-2071 or Scotia Capital (USA) Inc. toll-free at 1-800-372-3930.
