EFTA02364946.pdf

From: Richard Kahn Sent: Monday, Auguillill iiiII M To: Jeffrey E. Subject: Fwd: New Issue $25 Par Pfd attached is new issue for Southern Cal Edison with guidance =f a 5.5% coupon you =urrently have this position in SFL account Purchase Quantity 5/31/15 6/30/15 Unrealized Asset =escription Date Cost Value Value Gain (Loss) Southern Cal =dison 6.25% Dec 31 2049 1/30/12 3,000,000 2,994,600 3,433,750 3,389,604 395,004 please advise thank =ou Richard Kahn HBRK Associates Inc. 575 Lexington =venue 4th Floor New York, NY 10022 Begin forwarded message: From: =/b>"Atlas, Andrew S' Subject: =/b>New Issue $25 Par =fd Date: =/b>August 17, 2015 at 9:32:12 AM =DT To: =/b>"'Richard Kahn' Good Morning Rich, New Issue preferred pricing today. EFTA_R1_01359820 EFTA02364946 Speak soon, Andrew Issuer: SCE Trust IV Guarantor: Southern California Edison Company, = subsidiary of Edison International Company (EIX) Securities: Fixed-to-Floating Rate Trust =reference Securities Expected Ratings: Baal/BBB-/BBB+ (Stable/Stable/Stable) Size: $300mm (12mm $25 par shares) Maturity: Perpetual Price Guidance: 5.50% Area Offer Price: $25.00 Distributions: Cumulative and =ayable quarterly, in arrears, on the 15th of March, June, September, =nd December beginning 12/15/15. From and =ncluding August , 2015 to but excluding September 15, 2025, =istributions will accrue and be payable at a rate of % per annum, =ayable beginning on December 15, 2015 and ending on September 15, 2025. =46rom and including September 15, 2025, distributions will accrue and =e payable at a floating rate equal to the three-month LIBOR plus = spread of % per annum, payable beginning on December 15, 2025. Optional Redemption: On or after September 15, 2025, we may redeem the Series H =reference Shares, in whole or in part, at 100% of their =iquidation preference, plus accrued and unpaid dividends, if any. In =ddition, the Series J Preference Shares may be redeemed, in whole, but =ot in part, at any time prior to September 15, 2025 if certain changes =n tax or investment company law or interpretation occur and certain =ther conditions are satisfied. Upon any redemption of the Series J =reference Shares, a corresponding amount of Trust Preference Securities =ill be redeemed. Use of proceeds: To repay the Series A Preference Shares (cusip 842400756) and =or general corporate purposes 0RD/ QDI =ligible: Yes Subject to U.S. Tax =ithholding for NRA Clients Yes* Expected =isting: 2 EFTA_R1_01359821 EFTA02364947 NYSE 3 EFTA_R1_01359822 EFTA02364948