0001193125-11-245823.txt : 20110912 0001193125-11-245823.hdr.sgml : 20110912 20110912162506 ACCESSION NUMBER: 0001193125-11-245823 CONFORMED SUBMISSION TYPE: FWP PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20110912 DATE AS OF CHANGE: 20110912 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: CAROLINA POWER & LIGHT CO CENTRAL INDEX KEY: 0000017797 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 560165465 STATE OF INCORPORATION: NC FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: FWP SEC ACT: 1934 Act SEC FILE NUMBER: 333-155418-02 FILM NUMBER: 111085949 BUSINESS ADDRESS: STREET 1: 410 S. WILMINGTON STREET CITY: RALEIGH STATE: NC ZIP: 27601 BUSINESS PHONE: 9195466111 MAIL ADDRESS: STREET 1: 410 S. WILMINGTON STREET CITY: RALEIGH STATE: NC ZIP: 27601 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: CAROLINA POWER & LIGHT CO CENTRAL INDEX KEY: 0000017797 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 560165465 STATE OF INCORPORATION: NC FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: FWP BUSINESS ADDRESS: STREET 1: 410 S. WILMINGTON STREET CITY: RALEIGH STATE: NC ZIP: 27601 BUSINESS PHONE: 9195466111 MAIL ADDRESS: STREET 1: 410 S. WILMINGTON STREET CITY: RALEIGH STATE: NC ZIP: 27601 FWP 1 d224540dfwp.htm FINAL TERM SHEET Final Term Sheet

Free Writing Prospectus Dated September 12, 2011

Registration Statement No. 333-155418-02

Filed Pursuant to Rule 433 of the Securities Act of 1933

 

FINAL TERM SHEET

 

 

Issuer:    Carolina Power & Light Company d/b/a Progress Energy Carolinas, Inc.
Supplemental Indenture:    Seventy-eighth Supplemental Indenture, dated as of September 1, 2011
Format:    SEC Registered
Trade Date:    September 12, 2011
Settlement Date:    September 15, 2011
Security:    First Mortgage Bonds, 3.00% Series due 2021
Expected Ratings:    Moody’s:    A1
   S&P:           A
   Fitch:          A+
Principal Amount:    $500,000,000
Date of Maturity:    September 15, 2021
Interest Rate:    3.00%
Interest Payment Dates:    Payable semi-annually in arrears on March 15 and September 15, beginning March 15, 2012
Public Offering Price:    99.828% of the principal amount thereof
Benchmark Treasury:    2.125% UST due on August 15, 2021
Benchmark Treasury Yield:    1.920%
Spread to Benchmark Treasury:      +110 basis points
Re-offer Yield:    3.020%
Redemption Terms:    Redeemable prior to June 15, 2021 (three months prior to maturity date), in whole at any time, or in part from time to time, at the option of the Company at a make-whole redemption price (as defined and described in further detail in the Prospectus Supplement) using applicable treasury rate plus 20 basis points; redeemable on and after June 15, 2021 (three months prior to maturity date), in whole at any time, or in part from time to time, at the option of the Company at a price of 100% plus accrued interest.
Joint Book-Running Managers:    J.P. Morgan Securities LLC
   Merrill Lynch, Pierce, Fenner & Smith Incorporated
   RBS Securities, Inc.
Co-Managers:    BNY Mellon Capital Markets, LLC
   Mitsubishi UFJ Securities (USA), Inc.
   BB&T Capital Markets, a division of Scott & Stringfellow, LLC
   Lazard Capital Markets LLC

Note: A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time.

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 Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling J.P. Morgan Securities LLC collect at 1-212-834-4533, Merrill Lynch, Pierce, Fenner & Smith incorporated toll-free at 1-800-294-1322 or RBS Securities, Inc. toll-free at 1-866-884-2071.