0001104659-23-104139.txt : 20230927 0001104659-23-104139.hdr.sgml : 20230927 20230927094311 ACCESSION NUMBER: 0001104659-23-104139 CONFORMED SUBMISSION TYPE: FWP PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20230927 DATE AS OF CHANGE: 20230927 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: DUKE ENERGY FLORIDA, LLC. CENTRAL INDEX KEY: 0000037637 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 590247770 STATE OF INCORPORATION: FL FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: FWP SEC ACT: 1934 Act SEC FILE NUMBER: 333-267583-03 FILM NUMBER: 231282170 BUSINESS ADDRESS: STREET 1: 100 CENTRAL AVENUE CITY: ST. PETERSBURG STATE: FL ZIP: 33701 BUSINESS PHONE: 7278205151 MAIL ADDRESS: STREET 1: 100 CENTRAL AVENUE CITY: ST. PETERSBURG STATE: FL ZIP: 33701 FORMER COMPANY: FORMER CONFORMED NAME: DUKE ENERGY FLORIDA, INC. DATE OF NAME CHANGE: 20130514 FORMER COMPANY: FORMER CONFORMED NAME: FLORIDA POWER CORP DATE OF NAME CHANGE: 20060629 FORMER COMPANY: FORMER CONFORMED NAME: FLORIDA POWER CORP / DATE OF NAME CHANGE: 19950829 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: DUKE ENERGY FLORIDA, LLC. CENTRAL INDEX KEY: 0000037637 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 590247770 STATE OF INCORPORATION: FL FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: FWP BUSINESS ADDRESS: STREET 1: 100 CENTRAL AVENUE CITY: ST. PETERSBURG STATE: FL ZIP: 33701 BUSINESS PHONE: 7278205151 MAIL ADDRESS: STREET 1: 100 CENTRAL AVENUE CITY: ST. PETERSBURG STATE: FL ZIP: 33701 FORMER COMPANY: FORMER CONFORMED NAME: DUKE ENERGY FLORIDA, INC. DATE OF NAME CHANGE: 20130514 FORMER COMPANY: FORMER CONFORMED NAME: FLORIDA POWER CORP DATE OF NAME CHANGE: 20060629 FORMER COMPANY: FORMER CONFORMED NAME: FLORIDA POWER CORP / DATE OF NAME CHANGE: 19950829 FWP 1 tm2326616d2_fwp.htm FWP

 

Filed pursuant to Rule 433

September 27, 2023
Relating to

Preliminary Prospectus Supplement dated September 25, 2023

to

Prospectus dated September 23, 2022

Registration Statement No. 333-267583-03

 

Duke Energy Florida, LLC

 

$200,000,000 First Mortgage Bonds, Floating Rate Series due 2073

 

Pricing Term Sheet

 

Issuer: Duke Energy Florida, LLC (the “Issuer”)
Trade Date: September 27, 2023
Settlement Date: September 29, 2023 (T + 2)
Ratings (Moody’s/S&P):* A1/A (stable/stable)
Security Description: First Mortgage Bonds, Floating Rate Series due 2073 (the “Bonds”)
Principal Amount: $200,000,000
Maturity Date: October 15, 2073
Price to the Public: 100% per Bond, plus accrued interest, if any, from September 29, 2023
Interest and Interest Payment Dates: Floating rate based on Compounded SOFR (calculated as described in the Preliminary Prospectus Supplement), minus 0.35%, calculated quarterly, and payable on January 15, April 15, July 15 and October 15 of each year, beginning on January 15, 2024.
Optional Redemption:

On or after October 15, 2053, the Issuer may redeem the Bonds at its option, in whole or in part, at any time and from time to time, if redeemed during the twelve-month periods beginning on October 15 as set forth below:

 

Twelve-month period beginning on

Redemption
price

  
  October 15, 2053 105.00%  
  October 15, 2054 104.50%  
  October 15, 2055 104.00%  
  October 15, 2056 103.50%  
  October 15, 2057 103.00%  
  October 15, 2058 102.50%  

 

 

 

 

  October 15, 2059 102.00%  
  October 15, 2060 101.50%  
  October 15, 2061 101.00%  
  October 15, 2062 100.50%  
  October 15, 2063 100.00%  
     
  and thereafter at 100% of the principal amount, in each case, together with any accrued and unpaid interest thereon to but excluding the redemption date

Repayment at Option of Holder:

The Bonds will be repayable at the option of a holder of the Bonds, in whole or in part, on the repayment dates and at the repayment prices (in each case expressed as a percentage of the principal amount of the Bonds to be repaid) as set forth below:

 

Repayment date

Repayment
price

  
  October 15, 2024 98.00%  
  April 15, 2025 98.00%  
  October 15, 2025 98.00%  
  April 15, 2026 98.00%  
  October 15, 2026 98.00%  
  April 15, 2027 98.00%  
  October 15, 2027 98.00%  
  April 15, 2028 98.00%  
  October 15, 2028 98.00%  
  April 15, 2029 99.00%  
  October 15, 2029 99.00%  
  April 15, 2030 99.00%  
  October 15, 2030 99.00%  
  April 15, 2031 99.00%  
  October 15, 2031 99.00%  
  April 15, 2032 99.00%  
  October 15, 2032 99.00%  
  April 15, 2033 99.00%  
  October 15, 2033 99.00%  
  April 15, 2034 99.00%  
  October 15, 2034 100.00%  
       

  and on October 15 of every second year thereafter, through and including October 15, 2070, at 100% of the principal amount, in each case, together with any accrued and unpaid interest thereon to but excluding the repayment date.
Format: SEC Registered
Denominations: $1,000 and integral multiples of $1,000
CUSIP/ISIN: 26444H AP6/ US26444HAP64

 

 

 

 

Underwriter: Morgan Stanley & Co. LLC

* Security ratings are not recommendations to buy, sell or hold securities. The ratings are subject to change or withdrawal at any time by the respective credit rating agencies.

 

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 Morgan Stanley & Co. LLC at 1-866-718-1649 (toll-free).

 

ANY DISCLAIMER OR OTHER NOTICE THAT MAY APPEAR BELOW IS NOT APPLICABLE TO THIS COMMUNICATION AND SHOULD BE DISREGARDED. SUCH DISCLAIMER OR NOTICE WAS AUTOMATICALLY GENERATED AS A RESULT OF THIS COMMUNICATION BEING SENT BY BLOOMBERG OR ANOTHER EMAIL SYSTEM.