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Pricing Supplement No.5 Dated March 29, 1995
(To Prospectus dated July 20, 1993)
Filed Pursuant to Rule 424(b)(3)
Registration No. 33-49367
PUBLIC SERVICE ELECTRIC AND GAS COMPANY
SECURED MEDIUM-TERM NOTES, SERIES A
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CUSIP Number: 74456Q AF 3 Interest Rate: 7.10%
Principal Amount: $65,000,000 Interest Payment Dates: January 1 and
July 1
Price to Public: Maturity Date: April 7, 1997
100% of Principal Amount Trade Date: March 29, 1995
Original Issue Date: April 5, 1995
These Notes are DTC Eligible Net Proceeds to Company : $64,837,500
and will be issued in Agents' Discount or Commission: $162,500
Book-Entry Form Only Interest From: April 5, 1995
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Optional Redemption Provisions:
The Notes will not be subject to redemption prior to maturity either
as a whole or in part at the option of Public Service Electric and Gas
Company ("Company").
Certain Financial Information:
The following document heretofore filed by the Company with the
Securities and Exchange Commission is incorporated herein by reference:
1. The Company's Annual Report on Form 10-K for the year ended
December 31, 1994, filed pursuant to the Securities Exchange Act of 1934
("1934 Act").
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Use of Proceeds:
The net proceeds from the sale of the Notes, together with the net
proceeds of the sale of an additional $35,000,000 principal amount of the
Company's Secured Medium-Term Notes, Series A expected to have an original
issue date of April 5, 1995, will be added to the general funds of the
Company and will be used to finance a portion of the Company's payment at
maturity of the $250,000,000 outstanding principal amount of the Company's
First and Refunding Mortgage Bonds, 6% Series JJ, on June 1, 1995.
Agents:
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X Merrill Lynch & Co.
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X Citicorp Securities, Inc.
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X Morgan Stanley & Co. Incorporated
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