Filed Pursuant to Rule 433
Registration No. 333-213383-03
Dated August 21, 2017
Baltimore Gas and Electric Company
$300,000,000 3.750% Notes Due 2047
August 21, 2017
Pricing Term Sheet
| Issuer: | Baltimore Gas and Electric Company | |
| Ratings:* | A3 (Moody’s);A- (S&P);A- (Fitch) | |
| Security: | 3.750% Notes due 2047 | |
| Trade Date: | August 21, 2017 | |
| Settlement Date: | August 24, 2017 | |
| Principal Amount: | $300,000,000 | |
| Maturity: | August 15, 2047 | |
| Coupon: | 3.750% | |
| Benchmark Treasury: | 3.00% due May 15, 2047 | |
| Benchmark Treasury Price / Yield: | 104-23+ / 2.765% | |
| Spread to Benchmark Treasury: | +103 basis points | |
| Yield to Maturity: | 3.795% | |
| Offering Price: | 99.199% | |
| Interest Payment Dates: | Semi-annually on February 15 and August 15, commencing February 15, 2018 | |
| Redemption Provisions: | At any time prior to February 15, 2047 (six months prior to the maturity date), at a discount rate of Treasury plus 15 basis points; and on or after February 15, 2047, at 100% of the principal, plus accrued interest to the redemption date | |
| CUSIP/ISIN: | 059165 EJ5 / US059165EJ51 | |
| Joint Book-Running Managers: | Credit Agricole Securities (USA) Inc. Credit Suisse Securities (USA) LLC J.P. Morgan Securities LLC Morgan Stanley & Co. LLC | |
| Co-Managers: | Apto Partners, LLC Penserra 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 contacting Credit Agricole Securities (USA) Inc. at1-866-807-6030, Credit Suisse Securities (USA) LLC at1-800-221-1037, J.P. Morgan Securities LLC at1-212-834-4533 (collect), or Morgan Stanley & Co. LLC at1-866-718-1649.
