FWP 1 a01219.htm FWP Document



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


Entergy Louisiana, LLC
$525,000,000
Collateral Trust Mortgage Bonds,
4.20% Series due April 1, 2050
Final Terms and Conditions
March 6, 2019
Issuer:
 
Entergy Louisiana, LLC
 
 
 
Security Type:
 
Collateral Trust Mortgage Bonds (SEC Registered)
 
 
 
Expected Ratings(1):
 
A2 (stable outlook) by Moody’s Investors Service
A (stable outlook) by Standard & Poor’s Ratings Services
 
 
 
Trade Date:
 
March 6, 2019
 
 
 
Settlement Date (T+4)(2):
 
March 12, 2019
 
 
 
Principal Amount:
 
$525,000,000
 
 
 
Coupon:
 
4.20%
 
 
 
Interest Payment Dates:
 
April 1 and October 1 of each year
 
 
 
First Interest Payment Date:
 
October 1, 2019
 
 
 
Final Maturity Date:
 
April 1, 2050
 
 
 
Optional Redemption Terms:
 
Make-whole call at any time prior to October 1, 2049 at a discount rate of Treasury plus 20 bps and, thereafter, at par
 
 
 
Benchmark Treasury:
 
3.375% due November 15, 2048
 
 
 
Benchmark Treasury Price:
 
10528+
 
 
 
Benchmark Treasury Yield:
 
3.071%
 
 
 
Spread to Benchmark Treasury:
 
+117 bps
 
 
 
Re-offer Yield:
 
4.241%
 
 
 
Price to Public:
 
99.293% of the principal amount




 
 
 
Net Proceeds Before Expenses:
 
$516,694,500
 
 
 
CUSIP / ISIN:
 
29364W BC1 / US29364WBC10
 
 
 
Joint Book-Running Managers:
 
Citigroup Global Markets Inc.
 
 
Goldman Sachs & Co. LLC
 
 
Merrill Lynch, Pierce, Fenner & Smith Incorporated
 
 
SMBC Nikko Securities America, Inc.
 
 
Wells Fargo Securities, LLC
 
 
 
Co-Manager:
 
R. Seelaus & Co., LLC
 
 
 
 
 
 
_______________________  
(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 12, 2019, which will be the fourth business day (T+4) 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 or the next succeeding business day 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 or the next succeeding business day 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) Citigroup Global Markets Inc. toll free at 1-800-831-9146, (ii) Goldman Sachs & Co. LLC toll free at 1-866-471-2526, (iii) Merrill Lynch, Pierce, Fenner & Smith Incorporated toll-free at 1-800-294-1322, (iv) SMBC Nikko Securities America, Inc. toll free at 1-888-868-6856 or (v) Wells Fargo Securities, LLC toll free at 1-800-645-3751.