-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, WOuyzn8YXZcuwpit9IuLFuYvwG63po0FlYz76E1uuvLUtl4SL+NfsMSwzi4okKG2 7UM3VpVAjm3YM0G5V3ZEJw== 0000905148-07-003798.txt : 20070516 0000905148-07-003798.hdr.sgml : 20070516 20070516171028 ACCESSION NUMBER: 0000905148-07-003798 CONFORMED SUBMISSION TYPE: FWP PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20070516 DATE AS OF CHANGE: 20070516 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: FLORIDA POWER & LIGHT CO CENTRAL INDEX KEY: 0000037634 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 590247775 STATE OF INCORPORATION: FL FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: FWP SEC ACT: 1934 Act SEC FILE NUMBER: 333-141357 FILM NUMBER: 07858645 BUSINESS ADDRESS: STREET 1: 700 UNIVERSE BLVD CITY: JUNO BEACH STATE: FL ZIP: 33408 BUSINESS PHONE: 5616943715 MAIL ADDRESS: STREET 1: P O BOX 14000 CITY: JUNO BEACH STATE: FL ZIP: 33408 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: FLORIDA POWER & LIGHT CO CENTRAL INDEX KEY: 0000037634 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 590247775 STATE OF INCORPORATION: FL FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: FWP BUSINESS ADDRESS: STREET 1: 700 UNIVERSE BLVD CITY: JUNO BEACH STATE: FL ZIP: 33408 BUSINESS PHONE: 5616943715 MAIL ADDRESS: STREET 1: P O BOX 14000 CITY: JUNO BEACH STATE: FL ZIP: 33408 FWP 1 efc7-1433_fwp.htm FREE WRITING PROSPECTUS efc7-1431_emailformfwp.htm
Free Writing Prospectus
Filed Pursuant to Rule 433
 Dated May 16, 2007
Relating to Preliminary Prospectus Supplement and Prospectus each Dated May 3, 2007
Registration No. 333-141357 and 333-141357-01


FPL RECOVERY FUNDING LLC
PRICING TERM SHEET
$652,000,000
Senior Secured Bonds, Series A

 
Syndicate:
Sole Lead Manager - Wachovia Capital Markets, LLC

Ratings:  (Moody’s/ S&P/ Fitch):       
Aaa/AAA/AAA.

Closing Date / Settlement Date: 
May 22, 2007

Interest Payment Dates: 
February 1 and August 1, commencing on February 1, 2008

Timing:
Priced, May 15, 2007.
 
 
Tranche
  
Principal
Amount
Offered
($MM)
    
Weighted
Average Life
(years)
  
Scheduled
Final
Maturity
Date
  
No. of
Sinking
Fund
Payments
    
Coupon
A-1
    
$124
      
1.97
  
2/1/2011
    
7
      
5.0530%
A-2
    
$140
      
4.98
  
8/1/2013
    
6
      
5.0440%
A-3
    
$100
      
7.31
  
8/1/2015
    
5
      
5.1273%
A-4
    
$288
      
10.38
  
8/1/2019
    
9
      
5.2555%

FPL  Recovery Funding LLC (the "Issuer") and Florida Power & Light Company ("FPL") have 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 and FPL have filed with the SEC for more complete information about the Issuer and the offering.  You may get these documents for free by visiting EDGAR on the SEC web site at www.sec.gov. Alternatively, the Issuer, Wachovia Capital Markets, LLC (the "Purchaser") or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling the Purchaser toll-free at 1-866-289-1262.

 

EXPECTED AMORTIZATION SCHEDULE

Payment Date
    
Tranche A-1 Balance
    
Tranche A-2 Balance
    
Tranche A-3 Balance
    
Tranche A-4 Balance
  
Tranche Size Closing Date
     $
124,000,000
     $
140,000,000
     $
100,000,000
     $
288,000,000
  
2/1/2008
      
99,784,541
      
140,000,000
      
100,000,000
      
288,000,000
  
8/1/2008
      
83,218,201
      
140,000,000
      
100,000,000
      
288,000,000
  
2/1/2009
      
62,786,016
      
140,000,000
      
100,000,000
      
288,000,000
  
8/1/2009
      
44,742,612
      
140,000,000
      
100,000,000
      
288,000,000
  
2/1/2010
      
22,611,047
      
140,000,000
      
100,000,000
      
288,000,000
  
8/1/2010
      
2,958,313
      
140,000,000
      
100,000,000
      
288,000,000
  
2/1/2011
      
–
      
119,215,680
      
100,000,000
      
288,000,000
  
8/1/2011
      
–
      
97,959,122
      
100,000,000
      
288,000,000
  
2/1/2012
      
–
      
72,503,506
      
100,000,000
      
288,000,000
  
8/1/2012
      
–
      
49,541,455
      
100,000,000
      
288,000,000
  
2/1/2013
      
–
      
22,401,525
      
100,000,000
      
288,000,000
  
8/1/2013
      
–
      
–
      
98,011,670
      
288,000,000
  
2/1/2014
      
–
      
–
      
69,191,758
      
288,000,000
  
8/1/2014
      
–
      
–
      
43,132,977
      
288,000,000
  
2/1/2015
      
–
      
–
      
12,493,764
      
288,000,000
  
8/1/2015
      
–
      
–
      
–
      
272,672,561
  
2/1/2016
      
–
      
–
      
–
      
240,117,082
  
8/1/2016
      
–
      
–
      
–
      
210,294,416
  
2/1/2017
      
–
      
–
      
–
      
175,783,895
  
8/1/2017
      
–
      
–
      
–
      
144,230,553
  
2/1/2018
      
–
      
–
      
–
      
107,698,753
  
8/1/2018
      
–
      
–
      
–
      
74,178,014
  
2/1/2019
      
–
      
–
      
–
      
35,554,081
  
                                   
 
 
2
EXPECTED SINKING FUND SCHEDULE

Payment Date
    
Tranche A-1
    
Tranche A-2
    
Tranche A-3
    
Tranche A-4
  
Initial Tranche Principal Balance
     $
124,000,000
     $
140,000,000
     $
100,000,000
     $
288,000,000
  
2/1/2008
      
24,215,459
      
–
      
–
      
–
  
8/1/2008
 
    
16,566,340
      
–
      
–
      
–
  
2/1/2009
 
 
  
20,432,185
      
–
      
–
      
–
  
8/1/2009
 
 
 
18,043,404
      
–
      
–
      
–
  
2/1/2010
      
22,131,565
      
–
      
–
      
–
  
8/1/2010
      
19,652,734
      
–
      
–
      
–
  
2/1/2011
      
2,958,313
      
20,784,320
      
–
      
–
  
8/1/2011
      
–
      
21,256,558
      
–
      
–
  
2/1/2012
      
–
      
25,455,616
      
–
      
–
  
8/1/2012
      
–
      
22,962,051
      
–
      
–
  
2/1/2013
      
–
      
27,139,930
      
–
      
–
  
8/1/2013
      
–
      
22,401,525
      
1,988,330
      
–
  
2/1/2014
      
–
      
–
      
28,819,912
      
–
  
8/1/2014
      
–
      
–
      
26,058,781
      
–
  
2/1/2015
      
–
      
–
      
30,639,213
      
–
  
8/1/2015
      
–
      
–
      
12,493,764
      
15,327,439
  
2/1/2016
      
–
      
–
      
–
      
32,555,479
  
8/1/2016
      
–
      
–
      
–
      
29,822,666
  
2/1/2017
      
–
      
–
      
–
      
34,510,521
  
8/1/2017
      
–
      
–
      
–
      
31,553,342
  
2/1/2018
      
–
      
–
      
–
      
36,531,800
  
8/1/2018
      
–
      
–
      
–
      
33,520,739
  
2/1/2019
      
–
      
–
      
–
      
38,623,933
  
8/1/2019
      
–
      
–
      
–
      
35,554,081
  

3
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