Filed pursuant to Rule 433
May 16, 2011
Relating to
Preliminary Prospectus Supplement dated May 16, 2011 to
Prospectus dated September 29, 2010
Registration Statement No. 333-169633-03
Duke Energy Carolinas, LLC
First and Refunding Mortgage Bonds,
$500,000,000 3.90% Series due 2021
Pricing Term Sheet
|
Issuer: |
|
Duke Energy Carolinas, LLC |
|
|
|
|
|
Security Description: |
|
First and Refunding Mortgage Bonds, 3.90% Series due 2021 |
|
|
|
|
|
Principal Amount: |
|
$500,000,000 |
|
|
|
|
|
Ratings (Moody’s/S&P): |
|
A1/A (stable/stable) |
|
|
|
|
|
Trade Date: |
|
May 16, 2011 |
|
|
|
|
|
Settlement Date: |
|
May 19, 2011; T + 3 |
|
|
|
|
|
Maturity Date: |
|
June 15, 2021 |
|
|
|
|
|
Interest Payment Dates: |
|
June 15 and December 15, beginning on December 15, 2011 |
|
|
|
|
|
Price to Public: |
|
99.898% per Bond |
|
|
|
|
|
Coupon: |
|
3.90% |
|
|
|
|
|
Benchmark Treasury: |
|
3.125% due May 15, 2021 |
|
|
|
|
|
Benchmark Treasury Yield: |
|
3.162% |
|
|
|
|
|
Spread to Benchmark Treasury: |
|
+75 bps |
|
|
|
|
|
Yield to Maturity: |
|
3.912% |
|
Optional Redemption |
|
At any time before three months prior to maturity, redeemable at the Treasury Rate + 15 bps. At any time on or after three months prior to maturity, redeemable at par. |
|
|
|
|
|
CUSIP: |
|
26442CAK0 |
|
|
|
|
|
Joint Book-Running Managers: |
|
Credit Suisse Securities (USA) LLC |
|
|
|
|
|
Co-Managers: |
|
Banca IMI S.p.A. |
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 Credit Suisse Securities (USA) LLC toll free at 1-800-221-1037, Merrill Lynch, Pierce, Fenner & Smith Incorporated toll free at 1-800-294-1322, RBS Securities Inc. toll free at 1-866-884-2071 or Wells Fargo Securities, LLC 1-800-326-5897 or email: cmClientsupport@wachovia.com