0001104659-11-067677.txt : 20111205 0001104659-11-067677.hdr.sgml : 20111205 20111205170047 ACCESSION NUMBER: 0001104659-11-067677 CONFORMED SUBMISSION TYPE: FWP PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20111205 DATE AS OF CHANGE: 20111205 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Duke Energy Carolinas, LLC CENTRAL INDEX KEY: 0000030371 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 560205520 STATE OF INCORPORATION: NC FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: FWP SEC ACT: 1934 Act SEC FILE NUMBER: 333-169633-03 FILM NUMBER: 111243646 BUSINESS ADDRESS: STREET 1: 526 SOUTH CHURCH STREET STREET 2: EC03T CITY: CHARLOTTE STATE: NC ZIP: 28202 BUSINESS PHONE: 704-594-6200 MAIL ADDRESS: STREET 1: 526 SOUTH CHURCH STREET STREET 2: EC03T CITY: CHARLOTTE STATE: NC ZIP: 28202 FORMER COMPANY: FORMER CONFORMED NAME: Duke Power CO LLC DATE OF NAME CHANGE: 20060403 FORMER COMPANY: FORMER CONFORMED NAME: DUKE ENERGY CORP DATE OF NAME CHANGE: 19970618 FORMER COMPANY: FORMER CONFORMED NAME: DUKE POWER CO /NC/ DATE OF NAME CHANGE: 19920703 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: Duke Energy Carolinas, LLC CENTRAL INDEX KEY: 0000030371 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 560205520 STATE OF INCORPORATION: NC FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: FWP BUSINESS ADDRESS: STREET 1: 526 SOUTH CHURCH STREET STREET 2: EC03T CITY: CHARLOTTE STATE: NC ZIP: 28202 BUSINESS PHONE: 704-594-6200 MAIL ADDRESS: STREET 1: 526 SOUTH CHURCH STREET STREET 2: EC03T CITY: CHARLOTTE STATE: NC ZIP: 28202 FORMER COMPANY: FORMER CONFORMED NAME: Duke Power CO LLC DATE OF NAME CHANGE: 20060403 FORMER COMPANY: FORMER CONFORMED NAME: DUKE ENERGY CORP DATE OF NAME CHANGE: 19970618 FORMER COMPANY: FORMER CONFORMED NAME: DUKE POWER CO /NC/ DATE OF NAME CHANGE: 19920703 FWP 1 a11-30606_2fwp.htm FWP

 

Filed pursuant to Rule 433

December 5, 2011

Relating to

Preliminary Prospectus Supplement dated December 5, 2011 to

Prospectus dated September 29, 2010

Registration Statement No. 333-169633-03

 

Duke Energy Carolinas, LLC
First and Refunding Mortgage Bonds,

$350,000,000 1.75% Series due 2016
$650,000,000 4.25% Series due 2041

 

Pricing Term Sheet

 

Issuer:

 

Duke Energy Carolinas, LLC

 

 

 

Trade Date:

 

December 5, 2011

 

 

 

Settlement Date:

 

December 8, 2011; T + 3

 

 

 

Interest Payment Dates:

 

June 15 and December 15, beginning on June 15, 2012

 

 

 

Ratings (Moody’s/S&P):

 

A1/A (stable/stable)

 

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

 

 

 

Security Description:

 

First and Refunding Mortgage Bonds, 1.75% Series due 2016

 

First and Refunding Mortgage Bonds, 4.25% Series due 2041

 

 

 

 

 

Principal Amount:

 

$350,000,000

 

$650,000,000

 

 

 

 

 

Maturity Date:

 

December 15, 2016

 

December 15, 2041

 

 

 

 

 

Price to Public:

 

99.837% per Bond

 

99.831% per Bond

 

 

 

 

 

Coupon:

 

1.75%

 

4.25%

 

 

 

 

 

Benchmark Treasury:

 

0.875% due November 30, 2016

 

3.750% due August 15, 2041

 

 

 

 

 

Benchmark Treasury Price:

 

99-22 3/4

 

114-14+

 

 

 

 

 

Benchmark Treasury Yield:

 

0.934%

 

3.010%

 

 

 

 

 

Spread to Benchmark Treasury:

 

+85 bps

 

+125 bps

 


 

Yield to Maturity:

 

1.784%

 

4.260%

 

 

 

 

 

Redemption Provisions/
Make-Whole Call:

 

+ 15 bps.

 

At any time before six months prior to maturity, redeemable at the Treasury Rate + 20 bps.  At any time on or after six months prior to maturity, redeemable at par.

 

 

 

 

 

CUSIP / ISIN:

 

26442CAL8 / US26442CAL81

 

26442C AM6 / US26442CAM64

 

 

 

 

 

Joint Book-Running Managers:

 

Barclays Capital Inc.
Citigroup Global Markets Inc.
Deutsche Bank Securities Inc.
J.P. Morgan Securities LLC
BNY Mellon Capital Markets, LLC
Scotia Capital (USA) Inc.
SunTrust Robinson Humphrey, Inc.

 

 

 

 

 

 

 

Co-Managers:

 

KeyBanc Capital Markets Inc.
Mitsubishi UFJ Securities (USA), Inc.
Mizuho Securities USA Inc.
U.S. Bancorp Investments, Inc.

 

 

 

 

 

 

 

Junior Co-Managers:

 

MFR Securities, Inc.
The Williams Capital Group, L.P.

 

 

 

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 Barclays Capital Inc. toll free at (888)-603-5847, Citigroup Global Markets Inc. toll free at (877) 858-5407, Deutsche Bank Securities Inc. toll free at (800) 503-4611 or J.P. Morgan Securities LLC collect at (212) 834-4533.

 

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