Filed pursuant to Rule 433
Registration No. 333-198989
November 24, 2014
PRICING TERM SHEET
EL PASO ELECTRIC COMPANY
$150,000,000
5.000% Senior Notes due December 1, 2044
| Issuer: | El Paso Electric Company |
| Issue: | 5.000% Senior Notes due December 1, 2044 |
| Ratings*: |
Baa1 by Moody’s Investors Service, Inc. BBB by Standard & Poor’s Ratings Services |
| Principal Amount: | $150,000,000 |
| Maturity: | December 1, 2044 |
| Coupon: | 5.000% |
| Interest Payment Dates: | June 1 and December 1, commencing June 1, 2015 |
| Treasury Benchmark: | 3.125% due August 15, 2044 |
| Treasury Yield: | 3.023% |
| Reoffer Spread: | T+200 basis points |
| Yield to Maturity: | 5.023% |
| Price to Public: | 99.645% of the principal amount thereof |
| Transaction Date: | November 24, 2014 |
| Settlement Date: | December 1, 2014 (T+4) |
|
Redemption Terms: |
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| Make-whole call: | Prior to June 1, 2044, callable at any time at a make-whole premium of the greater of (i) 100% of the principal amount and (ii) discounted present value at Treasury Rate plus 30 basis points |
| Par call: | On or after June 1, 2044, callable at any time at par |
| Minimum Denomination: | $1,000 |
| CUSIP/ISIN: | 283677AZ5/US283677AZ52 |
| Joint Book-Running Managers: | J.P. Morgan Securities LLC |
| Mitsubishi UFJ Securities (USA), Inc. | |
| Senior Co-Manager: | BBVA Securities Inc. |
*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 J.P. Morgan Securities LLC collect at (212) 834-4533 or Mitsubishi UFJ Securities (USA), Inc. toll-free at (877) 649-6848.