0001104659-16-156806.txt : 20161114 0001104659-16-156806.hdr.sgml : 20161111 20161114144657 ACCESSION NUMBER: 0001104659-16-156806 CONFORMED SUBMISSION TYPE: FWP PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20161114 DATE AS OF CHANGE: 20161114 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: 333-213765-05 FILM NUMBER: 161993876 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 a16-21303_2fwp.htm FWP

 

Filed pursuant to Rule 433

November 14, 2016

Relating to

Preliminary Prospectus Supplement dated November 14, 2016 to

Prospectus dated September 23, 2016

Registration Statement No. 333-213765-05

 

Duke Energy Carolinas, LLC
First and Refunding Mortgage Bonds,

$600,000,000 2.95% Series due 2026

 

Pricing Term Sheet

 

Issuer:

 

Duke Energy Carolinas, LLC

 

 

 

Trade Date:

 

November 14, 2016

 

 

 

Settlement Date:

 

November 17, 2016; T+3

 

 

 

Ratings (Moody’s/S&P/Fitch)*:

 

(Aa2/A/AA-) (Stable/Negative/Stable)

 

 

 

Security Description:

 

First and Refunding Mortgage Bonds, 2.95% Series due 2026 (the “Bonds”)

 

 

 

Interest Payment Dates:

 

June 1 and December 1, beginning on June 1, 2017

 

 

 

Principal Amount:

 

$600,000,000

 

 

 

Maturity Date:

 

December 1, 2026

 

 

 

Price to Public:

 

99.758% per Bond, plus accrued interest, if any, from November 17, 2016

 

 

 

Coupon:

 

2.95%

 

 

 

Benchmark Treasury:

 

2.000% due November 15, 2026

 

 

 

Benchmark Treasury Price:

 

97-31

 

 

 

Benchmark Treasury Yield:

 

2.228%

 

 

 

Spread to Benchmark Treasury:

 

+75 bps

 

 

 

Yield to Maturity:

 

2.978%

 


 

Redemption Provisions/Make-Whole Call:

 

At any time before September 1, 2026 (which is the date that is three months prior to maturity of the Bonds (the “Par Call Date”)), redeemable at the Treasury Rate + 15 bps. At any time on or after the Par Call Date, redeemable at par.

 

 

 

CUSIP / ISIN:

 

26442C AS3 / US26442CAS35

 

 

 

Joint Book-Running Managers:

 

BNP Paribas Securities Corp.
Goldman, Sachs & Co.
Mizuho Securities USA Inc.
RBC Capital Markets, LLC

 

 

 

Senior Co-Manager:

 

Loop Capital Markets LLC

 

 

 

Co-Managers:

 

CIBC World Markets Corp.
Fifth Third Securities, Inc.
Santander Investment Securities Inc.

 

 

 

Junior Co-Managers:

 

Academy Securities, Inc.
CastleOak Securities, 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 BNP Paribas Securities Corp. toll free at 1-800-854-5674, Goldman, Sachs & Co. toll free at 1-866-471-2526, Mizuho Securities USA Inc. toll-free at 1-866-271-7403, and RBC Capital Markets, LLC toll free at 1-866-375-6829.

 

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