0001104659-15-018138.txt : 20150309 0001104659-15-018138.hdr.sgml : 20150309 20150309160019 ACCESSION NUMBER: 0001104659-15-018138 CONFORMED SUBMISSION TYPE: FWP PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20150309 DATE AS OF CHANGE: 20150309 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: 333-191462-05 FILM NUMBER: 15685117 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 a15-5591_3fwp.htm FWP

 

Filed pursuant to Rule 433

March 9, 2015

Relating to

Preliminary Prospectus Supplement dated March 9, 2015 to

Prospectus dated September 30, 2013

Registration Statement No. 333-191462-05

 

Duke Energy Carolinas, LLC
$500,000,000 First And Refunding Mortgage Bonds,

3.75% Series due 2045

 

Pricing Term Sheet

 

Issuer:

 

Duke Energy Carolinas, LLC

 

 

 

Trade Date:

 

March 9, 2015

 

 

 

Settlement Date:

 

March 12, 2015; T + 3

 

 

 

Ratings (Moody’s/S&P/Fitch)*:

 

(Aa2/A /A+) (Stable/Positive/Positive)

 

 

 

Security Description:

 

First and Refunding Mortgage Bonds, 3.75% Series due 2045 (the “Bonds”)

 

 

 

Interest Payment Dates:

 

June 1 and December 1, beginning on December 1, 2015

 

 

 

Principal Amount:

 

$500,000,000

 

 

 

Maturity Date:

 

June 1, 2045

 

 

 

Price to Public:

 

99.166% per Bond, plus accrued interest, if any, from March 12, 2015

 

 

 

Coupon:

 

3.75%

 

 

 

Benchmark Treasury:

 

3.00% due November 15, 2044

 

 

 

Benchmark Treasury Price:

 

104-03

 

 

 

Benchmark Treasury Yield:

 

2.796%

 

 

 

Spread to Benchmark Treasury:

 

+100 bps

 

 

 

Yield to Maturity:

 

3.796%

 


 

Redemption Provisions/ Make-Whole Call:

 

At any time before six months prior to maturity, redeemable at the Treasury Rate +15 bps. At any time on or after six months prior to maturity, redeemable at par.

 

 

 

CUSIP / ISIN:

 

26442C AP9 / US26442CAP95

 

 

 

Joint Book-Running Managers:

 

Barclays Capital Inc.

Citigroup Global Markets Inc.

Merrill Lynch, Pierce, Fenner & Smith
Incorporated

Mizuho Securities USA Inc.

U.S. Bancorp Investments, Inc.

 

 

 

Co-Managers:

 

CIBC World Markets Corp.

DNB Markets, Inc.

HSBC Securities (USA) Inc.

SMBC Nikko Securities America, Inc.

 

 

 

Junior Co-Managers:

 

Mischler Financial Group, Inc.

The Williams Capital Group, L.P.

 

* 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 Barclays Capital Inc. toll free at (888) 603-5847, Citigroup Global Markets Inc. toll free at (800) 831-9146, Merrill Lynch, Pierce, Fenner & Smith Incorporated toll free at (800) 294-1322, Mizuho Securities USA Inc. toll free at (866) 271-7403 and U.S. Bancorp Investments, Inc. toll free at (877) 558-2607.

 

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