0001193125-12-234881.txt : 20120515 0001193125-12-234881.hdr.sgml : 20120515 20120515165655 ACCESSION NUMBER: 0001193125-12-234881 CONFORMED SUBMISSION TYPE: FWP PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20120515 DATE AS OF CHANGE: 20120515 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: 333-179835-02 FILM NUMBER: 12845679 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 d353843dfwp.htm FWP FWP

Free Writing Prospectus Dated May 15, 2012

Registration Statement No. 333-179835-02

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-ninth Supplemental Indenture, dated as of May 1, 2012

Format:

    SEC Registered

Trade Date:

    May 15, 2012

Settlement Date:

    May 18, 2012

Joint Book-Running Managers:    

    Goldman, Sachs & Co.
Mitsubishi UFJ Securities (USA), Inc.
Morgan Stanley & Co. LLC
Wells Fargo Securities, LLC

Co-Managers:

    BNY Mellon Capital Markets, LLC
SunTrust Robinson Humphrey, Inc.
RBC Capital Markets, LLC
U.S. Bancorp Investments, Inc.
Robert W. Baird & Co. Incorporated
KeyBanc Capital Markets Inc.

Expected Ratings:

    Moody’s:         A1
S&P:                A
Fitch:               A+
Documents Incorporated by Reference:        
The section of the Preliminary Prospectus Supplement entitled “Documents Incorporated By Reference” shall include the Current Report on Form 8-K filed May 15, 2012

2022 Bonds

   

Security:

    First Mortgage Bonds, 2.80% Series due 2022

Principal Amount:

    $500,000,000

Date of Maturity:

    May 15, 2022

Interest Rate:

    2.80%

Interest Payment Dates:

    Payable semi-annually in arrears on May 15 and November 15, beginning
November 15, 2012

Public Offering Price:

    99.775% of the principal amount thereof

Benchmark Treasury:

    1.75% UST due on May 15, 2022
  

Benchmark Treasury Yield:

    1.776%

Spread to Benchmark Treasury:

    +105 basis points

Re-offer Yield:

    2.826%

CUSIP/ISIN

    144141 DC9 / US144141DC90

Redemption Terms:

    Redeemable prior to February 15, 2022 (three months prior to maturity date), in whole at any time, or in part from time to time, at the option of the issuer at a redemption price (as described in further detail in the Prospectus Supplement) using applicable treasury rate plus 20 basis points; redeemable on and after February 15, 2022 (three months prior to maturity date), in whole at any time, or

   in part from time to time, at the option of the issuer at a price of 100% plus
accrued interest.

2042 Bonds

   

Security:

    First Mortgage Bonds, 4.10% Series due 2042

Principal Amount:

    $500,000,000

Date of Maturity:

    May 15, 2042

Interest Rate:

    4.10%

Interest Payment Dates:

    Payable semi-annually in arrears on May 15 and November 15, beginning
November 15, 2012

Public Offering Price:

    99.504% of the principal amount thereof

Benchmark Treasury:

    3.125% UST due on February 15, 2042

Benchmark Treasury Yield:

    2.929%

Spread to Benchmark Treasury:    

    +120 basis points

Re-offer Yield:

    4.129%

CUSIP/ISIN

    144141 DB1 / US144141DB18

Redemption Terms:

    Redeemable prior to November 15, 2041 (six months prior to maturity date), in whole at any time, or in part from time to time, at the option of the issuer at a redemption price (as described in further detail in the Prospectus Supplement) using applicable treasury rate plus 20 basis points; redeemable on and after November 15, 2041 (six months prior to maturity date), in whole at any time, or in part from time to time, at the option of the issuer at a price of 100% plus accrued interest.

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 Goldman, Sachs & Co. toll-free at 1-866-471-2526, Mitsubishi UFJ Securities (USA), Inc. toll-free at 1-877-649-6848, Morgan Stanley & Co. LLC toll-free at 1-866-718-1649, or Wells Fargo Securities, LLC toll-free at 1-800-326-5897.