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Entergy Louisiana, LLC – ‘FWP’ on 3/26/20 re: Entergy Louisiana, LLC

On:  Thursday, 3/26/20, at 2:08pm ET   ·   Accession #:  65984-20-131   ·   File #:  333-233403-04

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  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 3/26/20  Entergy Louisiana, LLC            FWP                    1:39K  Entergy Louisiana, LLC            Entergy Corp/DE

Free-Writing Prospectus   —   Rule 163 / 433   —   SA’33
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: FWP         Free-Writing Prospectus                             HTML     19K 


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Filed Pursuant to Rule 433
Registration No. 333-233403-04


Entergy Louisiana, LLC
$300,000,000
Collateral Trust Mortgage Bonds,
4.20% Series due September 1, 2048

Final Terms and Conditions

March 26, 2020
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 S&P Global Ratings
 
 
 
Trade Date:
 
 
 
 
Settlement Date (T+3)(2):
 
 
 
 
Principal Amount:
 
$300,000,000
 
 
 
Coupon:
 
4.20%
 
 
 
Interest Payment Dates:
 
March 1 and September 1 of each year
 
 
 
First Interest Payment Date:
 
 
 
 
Final Maturity Date:
 
September 1, 2048
 
 
 
Optional Redemption Terms:
 
Make-whole call at any time prior to March 1, 2048 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 August 14, 2018 under U.S. Treasury regulations
 
 
 
Benchmark Treasury:
 
2.375% due November 15, 2049
 
 
 
Benchmark Treasury Price:
 
123-15
 
 
 
Benchmark Treasury Yield:
 
1.404%
 
 
 
Spread to Benchmark Treasury:
 
+275 bps





 
 
 
Re-offer Yield:
 
4.154%
 
 
 
Price to Public:
 
100.753% of the principal amount (plus accrued interest from and including March 1, 2020 to but excluding the Settlement Date (such accrued interest totaling $1,050,000))
 
 
 
Net Proceeds Before Expenses:
 
$301,059,000 (exclusive of accrued interest from and including March 1, 2020 to but excluding the Settlement Date (such accrued interest totaling $1,050,000))
 
 
 
CUSIP / ISIN:
 
29364W BB3 / US29364WBB37
 
 
 
Sole Book-Running Manager:
 
BNP Paribas Securities Corp.
 
 
 
_______________________  
(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 31, 2020, which will be the third business day following the date hereof (such settlement being referred to as “T+3”). 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 more than two business days prior to the scheduled settlement date will be required, by virtue of the fact that the bonds initially will settle in T+3, to specify an alternative settlement arrangement at the time of any such trade to prevent a failed settlement. Purchasers of the bonds who wish to trade the bonds more than two business days prior to the scheduled settlement date 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 BNP Paribas Securities Corp. toll free at 1-800-854-5674.





Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘FWP’ Filing    Date    Other Filings
9/1/20
3/31/20
Filed on:3/26/20424B3
3/1/20
8/14/188-K
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Filing Submission 0000065984-20-000131   –   Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

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