Pricing Supplement Dated November 23, 1998
Rule 424(b)(5)
No. 005
File No. 333-61621
(To Prospectus dated September 2, 1998)
CUSIP No. 74835NAE5
QUESTAR PIPELINE COMPANY
Medium-Term Notes, Series A, Due From Nine Months
to 30 Years from Date of Issue
Fixed Rates Principal Amounts
6.05% US $ 23,300,000
Trade Date: November 23, 1998 Original Issue Date: November 30, 1998
Interest Rate: 6.05%
Issue Price: 100% of Principal Amount Stated Maturity: December 1, 2008
Regular Record Dates:
May 15 and November 15
Selling Agent's Discount Interest Payment Dates:
or Commission: $145,625 June 1 and December 1
Net Proceeds to Company: $23,154,375
Forms: The Notes are registered in Book-Entry form
Optional
Redemption: The Notes will be redeemable as a whole or in part, at the
option of the Company at any time, at a redemption price equal to the
greater of (i) 100% of the principal amount of such Notes and (ii) the
sum of the present values of the remaining scheduled payments of
principal and interest thereon discounted to the redemption date on a
semiannual basis (assuming a 360-day year consisting of twelve 30-day
months) at the Treasury Rate plus twenty (20) basis points, plus in
each case accrued interest thereon to the date of redemption.
"Treasury Rate" means, with respect to any redemption date,
the rate per annum equal to the semiannual equivalent yield to
maturity of the Comparable Treasury Issue, assuming a price for the
Comparable Treasury Issue (expressed as a percentage of its principal
amount) equal to the Comparable Treasury Price for such redemption
date.
"Comparable Treasury Issue" means the United States
Treasury security selected by an Independent Investment Banker as
having a maturity comparable to the remaining term of the Notes to be
redeemed that would be utilized, at the time of selection and in
accordance with customary financial practice, in pricing new issues
of corporate debt securities of a comparable maturity to the remaining
term of such Notes.
"Independent Investment Banker" means one of the Reference Treasury
Dealers appointed by the Trustee after consultation with the Company.
"Comparable Treasury Price" means, with respect to any
redemption date, the average of the Reference Treasury Dealer
Quotations for such redemption date. "Reference Treasury Dealer
Quotations" means, with respect to each Reference Treasury Dealer and
any redemption date, the average, as determined by the Trustee, of the
bid and asked prices for the Comparable Treasury Issue (expressed in
each case as a percentage of its principal amount) quoted in writing
to the Trustee by such Reference Treasury Dealer at 3:30 p.m. New York
time on the third business day preceding such redemption date.
"Reference Treasury Dealer" means each of Merrill Lynch,
Pierce, Fenner & Smith Incorporated and Salomon Smith Barney Inc. and
their respective successors; provided, however, that if any of the
foregoing or their affiliates shall cease to be a primary U.S.
Government securities dealer in The City of New York (a "Primary
Treasury Dealer"), the Company shall substitute therefor another
Primary Treasury Dealer.
Notice of any redemption will be mailed at least 30 days
but not more than 60 days before the redemption date to each holder of
Notes to be redeemed.
Unless the Company defaults in payment of the redemption
price, on and after the redemption date interest will cease to accrue
on the Notes or portions thereof called for redemption.
Sinking Fund/Repayment Provision: Not applicable
Redemption Percentage: See above
Annual Redemption Percentage: See above
Redemption Commencement Date: See above
Redemption Date: See above
Redemption Price: See above
Repayments: Other than pursuant to Optional Redemption, the Notes
cannot be repaid prior to Stated Maturity.
Agent: Merrill Lynch & Co.
Other Provisions: Terms are not completed for certain items above
either because such items are not applicable or because the terms are
as specified in the Prospectus.