Filed Pursuant to Rule 433
Registration No. 333-169315-06
Entergy New Orleans, Inc.
$100,000,000
First Mortgage Bonds,
3.90% Series due July 1, 2023
Final Terms and Conditions
June 18, 2013
Issuer: | | Entergy New Orleans, Inc. |
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Security Type: | | First Mortgage Bonds (SEC Registered) |
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Expected Ratings(1): | | Baa3 (stable outlook) by Moody’s Investors Service A- (stable outlook) by Standard & Poor’s Ratings Services |
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Trade Date: | | June 18, 2013 |
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Settlement Date (T+3): | | June 21, 2013 |
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Principal Amount: | | $100,000,000 |
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Coupon: | | 3.90% |
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Coupon Payment Dates: | | January 1 and July 1 of each year |
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First Payment Date: | | January 1, 2014 |
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Final Maturity Date: | | July 1, 2023 |
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Optional Redemption Terms: | | Make-whole call at any time prior to April 1, 2023 at a discount rate of Treasury plus 30 bps and, thereafter, at par |
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UST Benchmark: | | 1.75% due May 15, 2023 |
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Spread to UST Benchmark: | | +175 bps |
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Treasury Price: | | 96-03 3/4 |
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Treasury Yield: | | 2.188% |
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Re-offer Yield: | | 3.938% |
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Issue Price to Public: | | 99.687% |
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Net Proceeds Before Expenses: | | $99,037,000 |
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Joint Book-Running Managers: | | Merrill Lynch, Pierce, Fenner & Smith Incorporated |
| | Morgan Stanley & Co. LLC |
| | Wells Fargo Securities, LLC |
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CUSIP / ISIN: | | 29364PAN3 / US29364PAN33 |
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1 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 website at www.sec.gov.
Alternatively, a copy of the prospectus for the offering can be obtained by calling (i) Merrill Lynch, Pierce, Fenner & Smith Incorporated toll free at 1-800-294-1322, (ii) Morgan Stanley & Co. LLC toll free at 1-866-718-1649 or (iii) Wells Fargo Securities, LLC toll free at 1-800-326-5897.