FWP 1 a00818.htm FWP Document


Filed Pursuant to Rule 433
Registration No. 333-213335-03


Entergy Louisiana, LLC
$750,000,000
Collateral Trust Mortgage Bonds,
4.00% Series due March 15, 2033
Final Terms and Conditions
March 20, 2018
Issuer:
 
Entergy Louisiana, LLC
 
 
 
Security Type:
 
Collateral Trust Mortgage Bonds (SEC Registered)
 
 
 
Expected Ratings(1):
 
A2 (stable outlook) by Moody’s Investors Service
A (positive outlook) by Standard & Poor’s Ratings Services
 
 
 
Trade Date:
 
March 20, 2018
 
 
 
Settlement Date (T+3)(2):
 
March 23, 2018
 
 
 
Principal Amount:
 
$750,000,000
 
 
 
Interest Rate:
 
4.00%
 
 
 
Interest Payment Dates:
 
March 15 and September 15 of each year
 
 
 
First Interest Payment Date:
 
September 15, 2018
 
 
 
Final Maturity Date:
 
March 15, 2033
 
 
 
Optional Redemption Terms:
 
Make-whole call at any time prior to December 15, 2032 at a discount rate of Treasury plus 20 bps and, thereafter, at par
 
 
 
Benchmark Treasury:
 
2.75% due February 15, 2028
 
 
 
Spread to Benchmark Treasury:
 
+112.5 bps
 
 
 
Benchmark Treasury Price:
 
9826
 
 
 
Benchmark Treasury Yield:
 
2.889%
 
 
 
Re-offer Yield:
 
4.014%
 
 
 
Price to Public:
 
99.844% of the principal amount
 
 
 




Net Proceeds Before Expenses:
 
$743,205,000
 
 
 
CUSIP / ISIN:
 
29364W BA5 / US29364WBA53
 
 
 
Joint Book-Running Managers:
 
J.P. Morgan Securities LLC
 
 
Mizuho Securities USA LLC
 
 
Morgan Stanley & Co. LLC
 
 
Scotia Capital (USA) Inc.
 
 
Wells Fargo Securities, LLC
 
 
 
Co-Managers:
 
KeyBanc Capital Markets Inc.
 
 
Regions Securities LLC
 
 
Mischler Financial Group, Inc.
_______________________  
(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.
(2) It is expected that delivery of the bonds will be made on or about March 23, 2018, which will be the third business day (T+3) following the date hereof. Under Rule 15c6-1 under the Securities Exchange Act of 1934, trades in the secondary market generally are required to settle in two business days (T+2), unless the parties to any such trade expressly agree otherwise. Accordingly, purchasers who wish to trade the bonds on the date hereof will be required to specify an alternate settlement cycle at the time of any such trade to prevent a failed settlement. Purchasers of the bonds who wish to trade the bonds on the date hereof should consult their own advisors.

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) J.P. Morgan Securities LLC collect at (212) 834-4533, (ii) Mizuho Securities USA LLC toll-free at (866) 271-7403, (iii) Morgan Stanley & Co. LLC toll-free at (866) 718-1649, (iv) Scotia Capital (USA) Inc. toll-free at (800) 372-3930 or (v) Wells Fargo Securities, LLC toll-free at (800) 645-3751.