Filed pursuant to Rule 433
December 7, 2017
Relating to
Preliminary Prospectus Supplement dated December 7, 2017 to
Prospectus dated January 26, 2017
Registration Statement No. 333-213765-04
Duke Energy Florida, LLC
$400,000,000 2.10% Amortizing Senior Notes due 2019
Pricing Term Sheet
Issuer: |
| Duke Energy Florida, LLC |
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Trade Date: |
| December 7, 2017 |
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Settlement Date: |
| December 12, 2017; T + 3 |
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Ratings (Moody’s/S&P)*: |
| A3/A- (stable/stable) |
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Security Description: |
| 2.10% Amortizing Senior Notes due 2019 (the “Notes”) |
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Principal Amount: |
| $400,000,000 |
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Maturity Date: |
| December 15, 2019 |
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Price to Public: |
| 100.00% per Note, plus accrued interest, if any, from December 12, 2017 |
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Coupon: |
| 2.10% |
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Benchmark Treasury: |
| 1.750% due November 30, 2019 |
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Benchmark Treasury Price/Yield: |
| 99-28+/1.806% |
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Spread to Benchmark Treasury: |
| +29.4 bps |
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Yield to Maturity: |
| 2.10% |
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Interest Payment Dates: |
| March 15, June 15, September 15 and December 15 (each, a “Payment Date”), beginning on March 15, 2018 |
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Principal Repayments: |
| Principal will be payable quarterly in eight equal installments of $50,000,000 on each Payment Date, beginning on March 15, 2018. |
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CUSIP / ISIN: |
| 26444H AD3 / US26444HAD35 |
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Joint Book-Running Managers: |
| Citigroup Global Markets Inc. |
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| UBS Securities LLC |
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Co-Manager: |
| CastleOak Securities, L.P. |
*Note: 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 Citigroup Global Markets Inc. toll-free at (800) 831-9146 or UBS Securities LLC toll-free at (888) 827-7275.
