Filed PUrsuant to Rule 424(b)(2)
Registration File No. 333-66015
PRICING SUPPLEMENT NO. 1
Dated March 11, 1999 to
Prospectus dated November 9, 1998
BALTIMORE GAS AND ELECTRIC COMPANY
Medium-Term Notes, Series H
Principal Amount: $27,000,000
Original Issue Date: March 16, 1999
Stated Maturity: March 14, 2001
Price to Public: $27,000,000
Agent: Lehman Brothers Inc.
Agent's Commission: $67,500
Net Proceeds to Company: $26,932,500
CUSIP: 05916 M AQ 6
Floating Rate Note Interest Rate Information:
Initial Interest Rate: To be set March 12, 1999
Initial Interest Period: March 16, 1999 to June 14, 1999
Interest Rate Formula: LIBOR
Index Maturity: 3 Months
Spread: Plus 0.02%
Maximum Interest Rate: None
Minimum Interest Rate: None
Interest Reset Dates and Quarterly on the 14th day of
Interest Payment Dates: March, June, September, December
Interest Determination Second Business Day preceding
Date and Calculation Date: the Interest Reset Date
Calculation Agent: The Bank of New York
Record Dates: 15 calendar days prior to each
Interest Payment Date
<PAGE>
Filed Pursuant to Rule 424(b)(2)
Registration File No. 333-66015
PRICING SUPPLEMENT NO. 1
Dated March 11, 1999 to
Prospectus dated November 9, 1998
BALTIMORE GAS AND ELECTRIC COMPANY
Medium-Term Notes, Series H
(Continued)
We registered a total of $200,000,000 worth of Notes. So far, we
have only issued the $27,000,000 included in this Pricing Supplement
No. 1. We still have $173,000,000 worth of Notes available to issue.
- 2 -
