Filed Pursuant to Rule 433
Registration No. 333-254632-01
Florida Power & Light Company
Pricing Term Sheet
November 16, 2021
| Issuer: | Florida Power & Light Company |
| Designation: | First Mortgage Bonds, 2.875% Series due December 4, 2051 |
| Registration Format: | SEC Registered |
| Principal Amount: | $1,200,000,000 |
| Date of Maturity: | December 4, 2051 |
| Interest Payment Dates: | Semi-annually in arrears on June 4 and December 4, beginning June 4, 2022 |
| Coupon Rate: | 2.875% |
| Price to Public: | 99.959% of the principal amount thereof |
| Benchmark Treasury: | 2.000% due August 15, 2051 |
| Benchmark Treasury Yield: | 2.027% |
| Spread to Benchmark | |
| Treasury Yield: | 85 basis points |
| Reoffer Yield: | 2.877% |
| Redemption: | Redeemable at any time prior to June 4, 2051, at 100% of the principal amount plus any accrued and unpaid interest plus make-whole premium at discount rate equal to Treasury Yield plus 15 basis points; and redeemable at any time on or after June 4, 2051, at 100% of the principal amount plus any accrued and unpaid interest |
| Trade Date: | November 16, 2021 |
| Settlement Date: | November 18, 2021 |
| CUSIP / ISIN Number: | 341081 GE1 / US341081GE16 |
| Expected Credit Ratings:* | |
| Moody’s Investors Service Inc. | “Aa2” (stable) |
| S&P Global Ratings | “A+” (stable) |
| Fitch Ratings, Inc. | “AA-“ (stable) |
Joint Book-Running Managers:
Citigroup Global Markets Inc.
Fifth Third Securities, Inc.
RBC Capital Markets, LLC
Regions Securities LLC
U.S. Bancorp Investments, Inc.
Wells Fargo Securities, LLC
Barclays Capital Inc.
BofA Securities, Inc.
BNY Mellon Capital Markets, LLC
Goldman Sachs & Co. LLC
KeyBanc Capital Markets Inc.
Mizuho Securities USA LLC
PNC Capital Markets LLC
Scotia Capital (USA) Inc.
TD Securities (USA) LLC
Co-Managers:
DNB Markets, Inc.
DZ Financial Markets LLC
HSBC Securities (USA) Inc.
ICBC Standard Bank Plc
nabSecurities, LLC
WR Securities, LLC
Junior Co-Managers:
Drexel Hamilton, LLC
MFR Securities, Inc.
R. Seelaus & Co., LLC
| * | A security rating is not a recommendation to buy, sell or hold securities and should be evaluated independently of any other rating. The rating is subject to revision or withdrawal at any time by the assigning rating organization. |
The terms “make-whole premium” and “Treasury Yield” have the meanings ascribed to those terms in the Issuer’s Preliminary Prospectus Supplement, dated November 16, 2021.
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 Citigroup Global Markets Inc. toll-free at (800) 831-9146, Fifth Third Securities, Inc. toll-free at (866) 531-5353, RBC Capital Markets, LLC toll-free at (866) 375-6829, Regions Securities LLC collect at (404) 279-7400, U.S. Bancorp Investments, Inc. toll-free at (877) 558-2607 or Wells Fargo Securities, LLC toll-free at 800-645-3751.