Rule 424(b)(3)
PRICING SUPPLEMENT NO. 1, DATED OCTOBER 29, 2004
(To prospectus dated October 22, 2004, as supplemented by
prospectus supplement dated October 28, 2004)
CENTRAL HUDSON GAS & ELECTRIC CORPORATION
MEDIUM-TERM NOTES, SERIES E, as follows:
Principal Amount: $ 27,000,000
J.P. Morgan Securities Inc. |
$ | 15,000,000 | ||
McDonald
Investments Inc. |
12,000,000 | |||
Total |
$27,000,000 | |||
Issue Price: 100%
Settlement Date (Original Issue Date): November 3, 2004
Maturity Date (Stated Maturity): November 4, 2019
Type of Note:
x Fixed Rate Note
o Zero Coupon Note
Form:
x Book-Entry
o Definitive Certificates
Authorized denominations: $1,000 and integral multiples thereof
CUSIP No: 15361G AL9
Interest Rate: 5.05% per annum
Interest Payment Dates: March 1 and September 1, and at maturity
Record Dates: February 15 and August 15
Initial Interest Payment Date: March 1, 2005
Redemption Terms (at option of the issuer):
x Not redeemable prior to Stated Maturity
o Redeemable in accordance with the following terms:
Repayment Terms (at option of the holder):
x Not repayable prior to Stated Maturity
o Repayable in accordance with the following terms:
Sinking Fund Provisions:
x None
o Applicable in accordance with the following terms:
| Agents: | J.P. Morgan Securities Inc. McDonald Investments Inc. |
Agent acting in capacity indicated below:
x As Agents
o As Principals
The notes are being offered at the Issue Price set forth above.
Agents’ Commissions (based on amounts placed) as follows:
J.P. Morgan Securities Inc. |
$ | 101,250.00 (.675%) |
McDonald Investments Inc.
|
$ | 81,000.00 (.675%) |
Net proceeds to issuer (before expenses): $26,817,750.00
Additional Terms: None
THE NOTES HAVE NOT BEEN APPROVED OR DISAPPROVED BY THE SECURITIES AND EXCHANGE COMMISSION OR ANY STATE SECURITIES COMMISSION NOR HAVE ANY OF THESE ORGANIZATIONS DETERMINED THAT THIS PRICING SUPPLEMENT OR THE APPLICABLE PROSPECTUS SUPPLEMENT OR PROSPECTUS IS ACCURATE OR COMPLETE. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.