Pricing Supplement No. 14 Filing under Rule 424(b)(3)
Dated: April 7, 1995 Registration No. 33-55816
(To Prospectus, dated January 4, 1993,
as supplemented by Prospectus Supplement,
dated January 5, 1993)
$150,000,000
The Montana Power Company
Secured Medium-Term Notes
Principal Amount: $17,000,000 Original Issue Date: April 13, 1995
Interest Rate: 7.33% Maturity Date: April 15, 2025
Issue Price: 100% Interest Payment Dates: May 1 and
November 1
Selling Agent's Commission: .60% Initial Interest
Purchasing Agent's Discount: N/A Payment Date: May 1, 1995
Net Proceeds to Company: 99.40% Record Dates: April 15 and
October 16
Reallowance: N/A Redeemable: Yes No X
Selling Concession: N/A ----- ------
Form: In Whole: Yes No
Book-Entry (DTC) X ----- ------
----- In Part: Yes No
Certificated ----- ------
----- Initial Redemption Date: N/A
Repayable at Option of Holder: Redemption Limitation Date: N/A
Yes: X No:
----- ----
Repayment Date: April 15, 2002
Repayment Price: 100%
Election Period: from February 15, 2002 to
March 15, 2002
Redemption prices (if any): The Initial Redemption Price shall be N/A% of
the principal amount of such Notes to be redeemed and shall decline on each
anniversary of the Initial Redemption Date by a Reduction Percentage of
N/A% of the principal amount to be redeemed until the redemption price
shall be 100% of such principal amount.
Prior to the date of this Pricing Supplement, the Company has sold
$91,000,000 aggregate principal amount of the Secured Medium-Term Notes.
N/A as used herein means "Not Applicable." For additional terms, see
the following page.
The validity of the New Bonds will be passed upon for any agent,
dealer or underwriter by Milbank, Tweed, Hadley & McCloy, One Chase
Manhattan Plaza, New York, New York.
THESE SECURITIES HAVE NOT BEEN APPROVED OR DISAPPROVED BY THE
SECURITIES AND EXCHANGE COMMISSION OR BY ANY STATE SECURITIES COMMISSION
NOR HAS THE SECURITIES AND EXCHANGE COMMISSION OR ANY STATE SECURITIES
COMMISSION PASSED UPON THE ACCURACY OR ADEQUACY OF THIS PRICING SUPPLEMENT.
ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.
Selling Agent/Purchasing Agent:
( ) Goldman, Sachs & Co. (X) Lehman Brothers Inc. ( ) Morgan Stanley & Co.
Incorporated
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REPAYMENT AT OPTION OF HOLDER
Each Note will be repayable by the Company at the option of the
registered holder thereof on April 15, 2002, at 100% of its principal
amount, together with interest payable to the date of repayment. For any
Note to be repaid, the Company must receive such Note at its office or
agency in the Borough of Manhattan, The City of New York (currently, the
office of the Corporate Trustee), within the period commencing February 15,
2002, and ending at the close of business on March 15, 2002 (or, if such
March 15 is not a business day, the next succeeding business day), together
with the form entitled "Option to Elect Repayment" on the reverse of, or
otherwise accompanying, such Note duly completed. Any such election so
received by the Company within such period shall be irrevocable. The
repayment option may be exercised by the registered holder of a Note for
less than the entire principal amount of such Note, provided that the
principal amount to be repaid is equal to $1,000 or an integral multiple of
$1,000. All questions as to the validity, eligibility (including time of
receipt) and acceptance of any Note for repayment will be determined by the
Corporate Trustee, whose determination will be final and binding.
So long as the Depository or the Depository's nominee is the
registered holder of the Notes, the Depository or such nominee will be the
only entity that can exercise the repayment option, and repayment will be
made in accordance with the Depository's repayment procedures in effect at
the time. See "Book-Entry System" in the accompanying Prospectus. In
order to ensure that the Depository or its nominee will timely exercise a
repayment option with respect to a particular beneficial interest in the
Notes, the Beneficial Owner of such interest must instruct the broker or
other Direct or Indirect Participant through which it holds such interest
to notify the Depository of its election to exercise the repayment option.
In addition, the Beneficial Owner must effect delivery of such interest at
the time such notice of election is given to the Depository by causing the
broker or other Direct or Indirect Participant through which it holds such
interest to transfer such interest on the Depository's records to the
Corporate Trustee. Different firms have different deadlines for accepting
instructions from their customers and, accordingly, each Beneficial Owner
should consult the broker or other Direct or Indirect Participant through
which it holds an interest in the Notes in order to ascertain the deadline
by which such instruction must be given in order for timely notice to be
delivered to the Depository.
CONCERNING THE CORPORATE TRUSTEE
Effective August 5, 1994, The Bank of New York, as Corporate Trustee,
and W. T. Cunningham, as Individual Trustee, have succeeded Morgan Guaranty
Trust Company of New York and P. J. Crowley, respectively, as Trustees
under the Company's Mortgage and Deed of Trust, dated as of October 1,
1945, as amended and supplemented, pursuant to which the Secured Medium-
Term Notes are being issued.
