Filed pursuant to Rule 433
dated November 4, 2014
Relating to
Preliminary Pricing Supplement dated November 4, 2014 to
Prospectus Supplement dated August 6, 2014 and
Prospectus dated November 23, 2011
Registration Statement No. 333-178133
Pricing Term Sheet for 3.05% Secured Medium-Term Notes, Series J, due November 15, 2024
PUBLIC SERVICE ELECTRIC AND GAS COMPANY (PSE&G)
Issuer: Public Service Electric and Gas Company Trade Date: November 4, 2014 Original Issue Date/Settlement Date: November 7, 2014 Principal Amount: $250,000,000 Price to Public: 99.52% of Principal Amount, plus accrued interest, if any, from November 7, 2014 if settlement occurs after that date Interest Rate: 3.05% per annum Interest Payment Dates: May 15 and November 15, commencing May 15, 2015
| Redemption: As specified in Preliminary Pricing Supplement dated November 4, 2014. Make Whole amount during the Make Whole Redemption Period to be determined at a discount rate equal to the Treasury Rate plus 12.5 basis points (0.125%). Maturity Date: November 15, 2024 CUSIP: 74456QBK1 Joint Book-Running Managers: Barclays Capital Inc. ($100,000,000) Goldman, Sachs & Co. ($100,000,000) Co-Managers: Credit Agricole Securities (USA) Inc. ($33,750,000) Loop Capital Markets LLC ($16,250,000)
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The issuer has filed a registration statement (including a prospectus, a prospectus supplement and a preliminary pricing supplement) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus, the prospectus supplement and the preliminary pricing supplement 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’s Web site atwww.sec.gov. Alternatively, the issuer or any underwriter participating in the offering will arrange to send you these documents if you request them by calling Barclays Capital Inc. toll free at 1-888-603-5847 or Goldman, Sachs & Co. toll free at 1-866-471-2526.
