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Notes:
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4.776% due April 1, 2042
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Issue Price:
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100%
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Settlement Date (Original Issue Date):
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March 30, 2012
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Maturity Date (Stated Maturity):
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April 1, 2042
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Type of Note:
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x Fixed Rate Note
o Zero Coupon Note
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Form:
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x Book-Entry
o Definitive Certificates
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Authorized Denominations:
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$1,000 and integral multiples thereof
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CUSIP No.:
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15361GBB0
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Interest Rate:
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4.776% per annum
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Interest Payment Dates:
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April 1 and October 1, and at maturity
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Record Dates:
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March 15 and September 15
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Initial Interest Payment Date:
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October 1, 2012
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Redemption Terms (at option of the Issuer):
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x Not redeemable prior to Stated Maturity
o Redeemable in accordance with the following terms:
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Repayment Terms (at option of the holder):
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x Not repayable prior to Stated Maturity
o Repayable in accordance with the following terms:
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Sinking Fund Provisions:
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x None
o Applicable in accordance with the following terms:
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Agents and Principal Amounts Placed:
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J.P. Morgan Securities LLC
$16,000,000
KeyBanc Capital Markets Inc.
$16,000,000
Merrill Lynch, Pierce, Fenner & Smith Incorporated
$16,000,000
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Agents’ Capacity:
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x As Agents
J.P. Morgan Securities LLC
KeyBanc Capital Markets Inc.
Merrill Lynch, Pierce, Fenner & Smith Incorporated
oAs Principal
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Issue Price:
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The Notes are being offered at the Issue Price set forth above.
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Agents’ Commission (based on principal amounts placed):
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J.P. Morgan Securities LLC
$120,000
KeyBanc Capital Markets Inc.
$120,000
Merrill Lynch, Pierce, Fenner & Smith Incorporated
$120,000
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Net Proceeds to Issuer (before expenses):
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$47,640,000
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Use of Proceeds:
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The net proceeds of the sale of the Notes will be used by the Issuer to (1) repay at maturity its 6.64% Series D Medium Term Notes due March 28, 2012, of which $36 million is currently outstanding and (2) redeem its (a) Cumulative Preferred Stock, Series D, with an aggregate redemption price of approximately $6 million, and (b) 4.96% Cumulative Preferred Stock, Series E, with an aggregate redemption price of approximately $6 million.
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Additional Terms:
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The Issuer may, without notice to or consent of the holders of the Notes, "reopen" this tranche of Notes at any time by creating and issuing additional Notes ranking equally with the Notes offered hereby and otherwise identical in all respects to the Notes offered hereby (except for the issue price, the date from which interest first accrues and the first interest payment date). Such additional Notes will form a single tranche with the Notes offered hereby provided such additional Notes are fungible with the Notes offered hereby for U.S. federal income tax purposes.
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