<SEC-DOCUMENT>0000891092-16-018706.txt : 20161103
<SEC-HEADER>0000891092-16-018706.hdr.sgml : 20161103
<ACCEPTANCE-DATETIME>20161103172931
ACCESSION NUMBER:		0000891092-16-018706
CONFORMED SUBMISSION TYPE:	FWP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20161103
DATE AS OF CHANGE:		20161103

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PUBLIC SERVICE ENTERPRISE GROUP INC
		CENTRAL INDEX KEY:			0000788784
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRIC & OTHER SERVICES COMBINED [4931]
		IRS NUMBER:				222625848
		STATE OF INCORPORATION:			NJ
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		FWP
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	333-200352
		FILM NUMBER:		161972931

	BUSINESS ADDRESS:	
		STREET 1:		CORPORATE ACCOUNTING SERVICES
		STREET 2:		80 PARK PLAZA, 9TH FLOOR
		CITY:			NEWARK
		STATE:			NJ
		ZIP:			07102-4194
		BUSINESS PHONE:		973-430-7000

	MAIL ADDRESS:	
		STREET 1:		CORPORATE ACCOUNTING SERVICES
		STREET 2:		80 PARK PLAZA, 9TH FLOOR
		CITY:			NEWARK
		STATE:			NJ
		ZIP:			07102-4194

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PUBLIC SERVICE ENTERPRISE GROUP INC
		CENTRAL INDEX KEY:			0000788784
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRIC & OTHER SERVICES COMBINED [4931]
		IRS NUMBER:				222625848
		STATE OF INCORPORATION:			NJ
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		FWP

	BUSINESS ADDRESS:	
		STREET 1:		CORPORATE ACCOUNTING SERVICES
		STREET 2:		80 PARK PLAZA, 9TH FLOOR
		CITY:			NEWARK
		STATE:			NJ
		ZIP:			07102-4194
		BUSINESS PHONE:		973-430-7000

	MAIL ADDRESS:	
		STREET 1:		CORPORATE ACCOUNTING SERVICES
		STREET 2:		80 PARK PLAZA, 9TH FLOOR
		CITY:			NEWARK
		STATE:			NJ
		ZIP:			07102-4194
</SEC-HEADER>
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<TYPE>FWP
<SEQUENCE>1
<FILENAME>e71844fwp.htm
<DESCRIPTION>FINAL TERM SHEET
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: right"><I>Filed Pursuant to Rule 433<BR>
dated November 3, 2016<BR>
Relating to<BR>
Preliminary Prospectus Supplement<BR>
dated November 3, 2016 and<BR>
Prospectus dated November 18, 2014<BR>
Registration Statement No. 333-200352<BR>
<BR>
</I></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in"><B>Final Term Sheet</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B>$700,000,000</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 20pt"><B>Public Service
Enterprise Group Incorporated</B></FONT><BR>
<BR>
<FONT STYLE="font-size: 11pt"><B>$400,000,000 1.600% Senior Notes due 2019</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>$300,000,000 2.000% Senior Notes due
2021<BR>
<BR>
November 3, 2016</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><BR>
</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 1.8pt 5.4pt 6pt 1.8pt"><FONT STYLE="font-size: 10pt">Issuer:</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-bottom: 6pt; padding-left: 10.45pt"><FONT STYLE="font-size: 10pt">Public Service Enterprise Group Incorporated</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 37.04%; padding: 1.8pt 5.4pt 6pt 1.8pt"><FONT STYLE="font-size: 10pt">Trade Date:</FONT></TD>
    <TD STYLE="width: 31.48%; padding-bottom: 6pt; padding-left: 10.45pt"><FONT STYLE="font-size: 10pt">November 3, 2016</FONT></TD>
    <TD STYLE="width: 31.48%; padding-bottom: 6pt; padding-left: 10.45pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 1.8pt 5.4pt 6pt 1.8pt"><FONT STYLE="font-size: 10pt">Settlement Date:</FONT></TD>
    <TD STYLE="padding-bottom: 6pt; padding-left: 10.45pt"><FONT STYLE="font-size: 10pt">November 8, 2016</FONT></TD>
    <TD STYLE="padding-bottom: 6pt; padding-left: 10.45pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 1.8pt 5.4pt 6pt 1.8pt"><FONT STYLE="font-size: 10pt">Proceeds to Issuer Before Expenses:</FONT></TD>
    <TD STYLE="padding-bottom: 6pt; padding-left: 10.45pt"><FONT STYLE="font-size: 10pt">$695,762,000</FONT></TD>
    <TD STYLE="padding-bottom: 6pt; padding-left: 10.45pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 1.8pt 5.4pt 6pt 1.8pt"><FONT STYLE="font-size: 10pt">Security:</FONT></TD>
    <TD STYLE="padding-bottom: 6pt; padding-left: 10.45pt"><FONT STYLE="font-size: 10pt">1.600% Senior Notes due 2019</FONT></TD>
    <TD STYLE="padding-bottom: 6pt; padding-left: 10.45pt"><FONT STYLE="font-size: 10pt">2.000% Senior Notes due 2021</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 1.8pt 5.4pt 8pt 1.8pt"><FONT STYLE="font-size: 10pt">Ratings*:</FONT></TD>
    <TD STYLE="padding: 1.8pt 1.8pt 8pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.15in">Baa2 (positive outlook) by Moody&rsquo;s Investor Service,
        Inc.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.15in">BBB (stable outlook) by S&amp;P Global Ratings</P></TD>
    <TD STYLE="padding: 1.8pt 1.8pt 8pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.15in">Baa2 (positive outlook) by Moody&rsquo;s Investor Service,
        Inc.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.15in">BBB (stable outlook) by S&amp;P Global Ratings</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 1.8pt 5.4pt 6pt 1.8pt"><FONT STYLE="font-size: 10pt">Security Type:</FONT></TD>
    <TD STYLE="padding-bottom: 6pt; padding-left: 10.45pt"><FONT STYLE="font-size: 10pt">Senior Unsecured Fixed Rate Notes</FONT></TD>
    <TD STYLE="padding-bottom: 6pt; padding-left: 10.45pt"><FONT STYLE="font-size: 10pt">Senior Unsecured Fixed Rate Notes</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 1.8pt 5.4pt 6pt 1.8pt"><FONT STYLE="font-size: 10pt">Principal Amount:</FONT></TD>
    <TD STYLE="padding-bottom: 6pt; padding-left: 10.45pt"><FONT STYLE="font-size: 10pt">$400,000,000</FONT></TD>
    <TD STYLE="padding-bottom: 6pt; padding-left: 10.45pt"><FONT STYLE="font-size: 10pt">$300,000,000</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 1.8pt 5.4pt 6pt 1.8pt"><FONT STYLE="font-size: 10pt">Maturity Date:</FONT></TD>
    <TD STYLE="padding-bottom: 6pt; padding-left: 10.45pt"><FONT STYLE="font-size: 10pt">November 15, 2019</FONT></TD>
    <TD STYLE="padding-bottom: 6pt; padding-left: 10.45pt"><FONT STYLE="font-size: 10pt">November 15, 2021</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 1.8pt 5.4pt 6pt 1.8pt"><FONT STYLE="font-size: 10pt">Coupon:</FONT></TD>
    <TD STYLE="padding-bottom: 6pt; padding-left: 10.45pt"><FONT STYLE="font-size: 10pt">1.600% per annum</FONT></TD>
    <TD STYLE="padding-bottom: 6pt; padding-left: 10.45pt"><FONT STYLE="font-size: 10pt">2.000% per annum</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 1.8pt 5.4pt 6pt 1.8pt"><FONT STYLE="font-size: 10pt">Interest Payment Dates:</FONT></TD>
    <TD STYLE="padding-bottom: 6pt; padding-left: 10.45pt"><FONT STYLE="font-size: 10pt">The 15<SUP>th</SUP> of each May and November, beginning May 15, 2017</FONT></TD>
    <TD STYLE="padding-bottom: 6pt; padding-left: 10.45pt"><FONT STYLE="font-size: 10pt">The 15<SUP>th</SUP> of each May and November, beginning May 15, 2017</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 1.8pt 5.4pt 6pt 1.8pt"><FONT STYLE="font-size: 10pt">Redemption Provisions:</FONT></TD>
    <TD STYLE="padding: 1.8pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.15in">At any time prior to the maturity date, at a price
        equal to the greater of (a) 100% of the principal amount of the 2019 Senior Notes being redeemed and (b) the sum of the present
        values of the remaining scheduled payments of principal of and interest on the 2019 Senior Notes being redeemed that would be due
        on the maturity date, exclusive of accrued interest to the redemption date, discounted to the redemption date on a semi-annual
        basis (assuming a 360-day year consisting of twelve 30-day months) at the treasury rate plus 15 basis points (0.15%),
        plus any accrued and unpaid interest on the principal amount of the 2019 Senior Notes being redeemed to, but excluding, the redemption
        date.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.15in">&nbsp;</P></TD>
    <TD STYLE="padding: 1.8pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.15in">At any time prior to October 15, 2021, at a price equal
        to the greater of (a) 100% of the principal amount of the 2021 Senior Notes being redeemed and (b) the sum of the present values
        of the remaining scheduled payments of principal of and interest on the 2021 Senior Notes being redeemed that would be due if the
        2021 Senior Notes matured on October 15, 2021, exclusive of accrued interest to the redemption date, discounted to the redemption
        date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the treasury rate plus 15 basis
        points (0.15%), plus any accrued and unpaid interest on the principal amount of the 2021 Senior Notes being redeemed to, but
        excluding, the redemption date.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt 0.15in">At any time on and after October 15, 2021, at a price
        equal to 100% of the principal amount of the 2021 Senior Notes being redeemed, plus any accrued and unpaid interest on the principal
        amount of the 2021 Senior Notes being redeemed to, but excluding, the redemption date.</P></TD></TR>
</TABLE>


<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><BR>
</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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    <TD STYLE="padding: 1.8pt 5.4pt 6pt 1.8pt"><FONT STYLE="font-size: 10pt">Benchmark Treasury:</FONT></TD>
    <TD STYLE="padding-bottom: 6pt; padding-left: 10.45pt"><FONT STYLE="font-size: 10pt">1.000% due October 15, 2019</FONT></TD>
    <TD STYLE="padding-bottom: 6pt; padding-left: 10.45pt"><FONT STYLE="font-size: 10pt">1.250% due October 31, 2021</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 1.8pt 5.4pt 6pt 1.8pt"><FONT STYLE="font-size: 10pt">Benchmark Treasury Yield:</FONT></TD>
    <TD STYLE="padding-bottom: 6pt; padding-left: 10.45pt"><FONT STYLE="font-size: 10pt">0.960%</FONT></TD>
    <TD STYLE="padding-bottom: 6pt; padding-left: 10.45pt"><FONT STYLE="font-size: 10pt">1.260%</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 1.8pt 5.4pt 6pt 1.8pt"><FONT STYLE="font-size: 10pt">Re-offer Spread to Benchmark:</FONT></TD>
    <TD STYLE="padding-bottom: 6pt; padding-left: 10.45pt"><FONT STYLE="font-size: 10pt">68 basis points</FONT></TD>
    <TD STYLE="padding-bottom: 6pt; padding-left: 10.45pt"><FONT STYLE="font-size: 10pt">78 basis points</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 1.8pt 5.4pt 6pt 1.8pt"><FONT STYLE="font-size: 10pt">Re-offer Yield:</FONT></TD>
    <TD STYLE="padding-bottom: 6pt; padding-left: 10.45pt"><FONT STYLE="font-size: 10pt">1.640%</FONT></TD>
    <TD STYLE="padding-bottom: 6pt; padding-left: 10.45pt"><FONT STYLE="font-size: 10pt">2.040%</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 1.8pt 5.4pt 6pt 1.8pt"><FONT STYLE="font-size: 10pt">Price to Public:</FONT></TD>
    <TD STYLE="padding-bottom: 6pt; padding-left: 10.45pt"><FONT STYLE="font-size: 10pt">99.883% of Principal Amount</FONT></TD>
    <TD STYLE="padding-bottom: 6pt; padding-left: 10.45pt"><FONT STYLE="font-size: 10pt">99.810% of Principal Amount</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 1.8pt 5.4pt 6pt 1.8pt"><FONT STYLE="font-size: 10pt">CUSIP / ISIN:</FONT></TD>
    <TD STYLE="padding: 1.8pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 10.45pt">744573 AJ5 /</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 10.45pt">US744573AJ58</P></TD>
    <TD STYLE="padding: 1.8pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 10.45pt">744573 AK2 /</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 10.45pt">US744573AK22</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 1.8pt 5.4pt 6pt 1.8pt"><FONT STYLE="font-size: 10pt">Joint Book-Running Managers:</FONT></TD>
    <TD STYLE="padding: 1.8pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 10.45pt">Barclays Capital Inc.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 10.45pt">J.P. Morgan Securities LLC</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 10.45pt">RBC Capital Markets, LLC</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 10.45pt">Scotia Capital (USA) Inc.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 10.45pt">Wells Fargo Securities LLC</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 10.45pt">&nbsp;</P></TD>
    <TD STYLE="padding: 1.8pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 10.45pt">Barclays Capital Inc.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 10.45pt">J.P. Morgan Securities LLC</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 10.45pt">RBC Capital Markets, LLC</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 10.45pt">Scotia Capital (USA) Inc.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 10.45pt">Wells Fargo Securities LLC</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 10.45pt">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 1.8pt 5.4pt 6pt 1.8pt"><FONT STYLE="font-size: 10pt">Co-Managers:</FONT></TD>
    <TD STYLE="padding: 1.8pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 10.45pt">CIBC World Markets Corp.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 10.45pt">Citigroup Global Markets Inc.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 10.45pt">MFR Securities, Inc.<BR>
        TD Securities (USA) LLC</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 10.45pt">&nbsp;</P></TD>
    <TD STYLE="padding: 1.8pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 10.45pt">CIBC World Markets Corp.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 10.45pt">Citigroup Global Markets Inc.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 10.45pt">MFR Securities, Inc.<BR>
        TD Securities (USA) LLC</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 10.45pt">&nbsp;</P></TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B><I>*&#9;</I></B> &nbsp;&nbsp;&nbsp;Note: A securities rating is not a
recommendation to buy, sell or hold securities and may be subject to revision, suspension or withdrawal at any time. Each
credit rating should be evaluated independently of any other credit rating.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B><I>The Issuer has filed a registration statement (including
a prospectus) and a preliminary prospectus supplement with the SEC for the offering to which this communication relates. Before
you invest, you should read the prospectus in that registration statement, the preliminary prospectus supplement and the other
documents the Issuer has filed with the SEC for more complete information about the Issuer and the offering. You may get these
documents for free by visiting EDGAR on the SEC&rsquo;s website at www.sec.gov. Alternatively, any underwriter or any dealer participating
in the offering will arrange to send you these documents if you request them by calling Barclays Capital Inc. toll-free at 1-888-603-5847,
J.P. Morgan Securities LLC collect at 1-212-834-4533 or RBC Capital Markets, LLC toll-free at 1-866-375-6829.</I></B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0pt"><B><I>&nbsp;</I></B></P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt"></P>


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