FWP 1 a02117.htm FWP Document


Filed Pursuant to Rule 433
Registration No. 333-213335-06


Entergy Arkansas, Inc.
$220,000,000
First Mortgage Bonds,
3.5% Series due April 1, 2026
Final Terms and Conditions
May 9, 2017
Issuer:
 
Entergy Arkansas, Inc.
 
 
 
Security Type:
 
First 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:
 
May 9, 2017
 
 
 
Settlement Date (T+5):
 
May 16, 2017
 
 
 
Principal Amount:
 
$220,000,000, which will be part of the same series of First Mortgage Bonds issued on January 8, 2016 and reopened on June 16, 2016
 
 
 
Interest Rate:
 
3.5%
 
 
 
Interest Payment Dates:
 
April 1 and October 1 of each year
 
 
 
First Interest Payment Date:
 
October 1, 2017
 
 
 
Final Maturity Date:
 
April 1, 2026
 
 
 
Optional Redemption Terms:
 
Make-whole call at any time prior to January 1, 2026 at a discount rate of Treasury plus 20 bps and, thereafter, at par
 
 
 
Qualified Reopening:
 
This offering of First Mortgage Bonds is expected to qualify as a “qualified reopening” of the First Mortgage Bonds issued on January 8, 2016 under U.S. Treasury regulations.
 
 
 
Benchmark Treasury:
 
2.250% due February 15, 2027
 
 
 
Benchmark Treasury Price:
 
98-21
 
 
 
Benchmark Treasury Yield:
 
2.405%
 
 
 




Spread to Benchmark Treasury:
 
80 bps
 
 
 
Re-offer Yield:
 
3.205%
 
 
 
Price to Public:
 
102.208% per bond (plus accrued interest from and including April 1, 2017 to and excluding the Settlement Date (such accrued interest totaling $962,500))
 
 
 
Net Proceeds Before Expenses:
 
$223,427,600 (exclusive of accrued interest from and including April 1, 2017 to and excluding the Settlement Date (such accrued interest totaling $962,500))
 
 
 
CUSIP / ISIN:
 
29364D AU4 / US29364DAU46
 
 
 
Joint Book-Running Managers:
 
J.P. Morgan Securities LLC
Merrill Lynch, Pierce, Fenner & Smith
                    Incorporated
Stephens Inc.
Wells Fargo Securities, LLC
Co-Managers:
 
BNY Mellon Capital Markets, LLC
Mischler Financial Group, Inc.
The Williams Capital Group, L.P.

    
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) J.P. Morgan Securities LLC collect at 1-212-834-4533, (ii) Merrill Lynch, Pierce, Fenner & Smith Incorporated toll-free at 1-800-294-1322, (iii) Stephens Inc. toll-free at 1-800-643-9691 or (iv) Wells Fargo Securities, LLC toll free at 1-800-645-3751.