FWP 1 a04318.htm FWP Document



Filed Pursuant to Rule 433
Registration No. 333-213335-03


Entergy Louisiana, LLC
$600,000,000
Collateral Trust Mortgage Bonds,
4.20% Series due September 1, 2048

Final Terms and Conditions

August 8, 2018
Issuer:
 
Entergy Louisiana, LLC
 
 
 
Security Type:
 
Collateral Trust Mortgage Bonds (SEC Registered)
 
 
 
Expected Ratings(1):
 
A2 (stable outlook) by Moody’s Investors Service
A (stable outlook) by Standard & Poor’s Ratings Services
 
 
 
Trade Date:
 
August 8, 2018
 
 
 
Settlement Date (T+4)(2):
 
August 14, 2018
 
 
 
Principal Amount:
 
$600,000,000
 
 
 
Coupon:
 
4.20%
 
 
 
Interest Payment Dates:
 
March 1 and September 1 of each year
 
 
 
First Interest Payment Date:
 
March 1, 2019
 
 
 
Final Maturity Date:
 
September 1, 2048
 
 
 
Optional Redemption Terms:
 
Make-whole call at any time prior to March 1, 2048 at a discount rate of Treasury plus 20 bps and, thereafter, at par
 
 
 
Benchmark Treasury:
 
3.00% due February 15, 2048
 
 
 
Benchmark Treasury Price:
 
97-27+
 
 
 
Benchmark Treasury Yield:
 
3.111%
 
 
 
Spread to Benchmark Treasury:
 
+110 bps
 
 
 
Re-offer Yield:
 
4.211%
 
 
 
Price to Public:
 
99.811% of the principal amount
 
 
 




Net Proceeds Before Expenses:
 
$593,616,000
 
 
 
CUSIP / ISIN:
 
29364W BB3 / US29364WBB37
 
 
 
Joint Book-Running Managers:
 
BNP Paribas Securities Corp.
 
 
Citigroup Global Markets Inc.
 
 
Merrill Lynch, Pierce, Fenner & Smith
                    Incorporated
 
 
MUFG Securities Americas Inc.
 
 
U.S. Bancorp Investments, Inc.
 
 
 
Co-Manager:
 
TD Securities (USA) LLC
 
 
 
 
 
 
_______________________  
(1) A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time.
(2) It is expected that delivery of the bonds will be made on or about August 14, 2018, which will be the fourth business day (T+4) following the date hereof. Under Rule 15c6-1 under the Securities Exchange Act of 1934, trades in the secondary market generally are required to settle in two business days (T+2), unless the parties to any such trade expressly agree otherwise. Accordingly, purchasers who wish to trade the bonds on the date hereof or the next succeeding business day will be required to specify an alternate settlement cycle at the time of any such trade to prevent a failed settlement. Purchasers of the bonds who wish to trade the bonds on the date hereof or the next succeeding business day should consult their own advisors.

The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov.

Alternatively, a copy of the prospectus for the offering can be obtained by calling (i) BNP Paribas Securities Corp. toll free at 1-800-854-5674, (ii) Citigroup Global Markets Inc. toll free at 1-800-831-9146, (iii) Merrill Lynch, Pierce, Fenner & Smith Incorporated toll-free at 1-800-294-1322, (iv) MUFG Securities Americas Inc. toll free at 1-877-649-6848 or (v) U.S. Bancorp Investments, Inc. toll free at 1-877-558-2607.