0001104659-21-043169.txt : 20210329 0001104659-21-043169.hdr.sgml : 20210329 20210329161302 ACCESSION NUMBER: 0001104659-21-043169 CONFORMED SUBMISSION TYPE: FWP PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20210329 DATE AS OF CHANGE: 20210329 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: 333-233896-06 FILM NUMBER: 21781826 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 tm2110089d3_fwp.htm FWP

 

Filed pursuant to Rule 433

March 29, 2021

Relating to

Preliminary Prospectus Supplement dated March 29, 2021

to

Prospectus dated September 23, 2019

Registration Statement No. 333-233896-06

 

Duke Energy Carolinas, LLC
First and Refunding Mortgage Bonds,

$550,000,000 2.55% Series due 2031
$450,000,000 3.45% Series due 2051

 

Pricing Term Sheet

 

 

Issuer: Duke Energy Carolinas, LLC (the “Issuer”)
Trade Date: March 29, 2021
Settlement Date: April 1, 2021; T+3
Ratings (Moody’s/S&P)*: Aa3/A (Stable/Stable)
Security Description: First and Refunding Mortgage Bonds, 2.55% Series due 2031 (the “2031 Bonds”) First and Refunding Mortgage Bonds, 3.45% Series due 2051 (the “2051 Bonds”)
Principal Amount: $550,000,000 $450,000,000
Maturity Date: April 15, 2031 April 15, 2051
Benchmark Treasury: 1.125% due February 15, 2031 1.625% due November 15, 2050
Benchmark Treasury Price: 94-21+ 83-08
Benchmark Treasury Yield: 1.713% 2.420%
Spread to Benchmark Treasury: 85 bps 105 bps
Reoffer Yield: 2.563% 3.470%%
Price to the Public: 99.885% per 2031 Bond, plus accrued interest, if any, from April 1, 2021 99.627% per 2051 Bond, plus accrued interest, if any, from April 1, 2021
Coupon: 2.55% 3.45%
Interest Payment Dates: April 15 and October 15, beginning on October 15, 2021 April 15 and October 15, beginning on October 15, 2021

 

 

 

 

Redemption Provisions/
Make-Whole Call: 		At any time before January 15, 2031 (which is the date that is three months prior to the maturity date of the 2031 Bonds (the “2031 Par Call Date”)), redeemable at the Treasury Rate + 15 bps. At any time on or after the 2031 Par Call Date, redeemable at par. At any time before October 15, 2050 (which is the date that is six months prior to the maturity date of the 2051 Bonds (the “2051 Par Call Date”)), redeemable at the Treasury Rate +20 bps. At any time on or after the 2051 Par Call Date, redeemable at par.
CUSIP / ISIN: 26442C BB9/ US26442CBB90 26442C BC7 / US26442CBC73
Joint Book-Running Managers:

BNP Paribas Securities Corp.

BofA Securities, Inc.

Credit Suisse Securities (USA) LLC

J.P. Morgan Securities LLC

Morgan Stanley & Co. LLC

Truist Securities, Inc.

Co-Managers:

Santander Investment Securities Inc.
Loop Capital Markets LLC
Regions Securities LLC

CastleOak Securities, L.P.
Drexel Hamilton, LLC
Samuel A. Ramirez & Company, Inc.

 

_____________

* 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 (800) 854-5674, BofA Securities, Inc. toll-free at (800) 294-1322, Credit Suisse Securities (USA) LLC toll-free at (800) 221-1037, J.P. Morgan Securities LLC collect at (212) 834-4533, Morgan Stanley & Co. LLC toll-free at (866) 718-1649 or Truist Securities, Inc. toll-free at (800) 685-4786.