Duke Energy Florida LLC
03/13/2026 | Press release | Distributed by Public on 03/13/2026 14:14
Free Writing Prospectus (Form FWP)
Filed pursuant to Rule 433
March 13, 2026
Relating to
Preliminary Prospectus Supplement dated March 11, 2026
to
Prospectus dated September 23, 2025
Registration Statement No. 333-290475-04
Duke Energy Florida, LLC
$274,712,000 First Mortgage Bonds, Floating Rate Series due 2076
Pricing Term Sheet
| Issuer: | Duke Energy Florida, LLC (the "Issuer") |
| Trade Date: | March 13, 2026 |
| Settlement Date: | March 17, 2026 (T + 2) |
| Ratings (Moody's/S&P):* | A1 (Stable) / A (Stable) |
| Security Description: | First Mortgage Bonds, Floating Rate Series due 2076 (the "Bonds") |
| Principal Amount: | $274,712,000 |
| Maturity Date: | April 15, 2076 |
| Price to the Public: | 100% per Bond, plus accrued interest, if any, from March 17, 2026 |
| 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 July 15, 2026. |
| Optional Redemption: | On or after April 15, 2056, 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 April 15 as set forth below: |
| Twelve-month period beginning on |
Redemption price |
||||||
| April 15, 2056 | 105.00 | % | |||||
| April 15, 2057 | 104.50 | % | |||||
| April 15, 2058 | 104.00 | % | |||||
| April 15, 2059 | 103.50 | % | |||||
| April 15, 2060 | 103.00 | % | |||||
| April 15, 2061 | 102.50 | % | |||||
| April 15, 2062 | 102.00 | % | |||||
| April 15, 2063 | 101.50 | % | |||||
| April 15, 2064 | 101.00 | % | |||||
| April 15, 2065 | 100.50 | % | |||||
| April 15, 2066 | 100.00 | % | |||||
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| 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 |
||||||
| April 15, 2027 | 98.00 | % | |||||
| October 15, 2027 | 98.00 | % | |||||
| April 15, 2028 | 98.00 | % | |||||
| October 15, 2028 | 98.00 | % | |||||
| April 15, 2029 | 98.00 | % | |||||
| October 15, 2029 | 98.00 | % | |||||
| April 15, 2030 | 98.00 | % | |||||
| October 15, 2030 | 98.00 | % | |||||
| April 15, 2031 | 98.00 | % | |||||
| 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 | 99.00 | % | |||||
| April 15, 2035 | 99.00 | % | |||||
| October 15, 2035 | 99.00 | % | |||||
| April 15, 2036 | 99.00 | % | |||||
| October 15, 2036 | 99.00 | % | |||||
| April 15, 2037 | 100.00 | % | |||||
| and on April 15 of every second year thereafter, through and including April 15, 2073, 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 |
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| CUSIP/ISIN: | 26444H AV3 / US26444HAV33 |
| Joint Book-Running Managers: |
J.P. Morgan Securities LLC Morgan Stanley & Co. LLC RBC Capital Markets, LLC UBS Securities 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 J.P. Morgan Securities LLC at (212) 834-4533 (collect), Morgan Stanley & Co. LLC at (866) 718-1649 (toll-free), RBC Capital Markets, LLC at (866) 375-6829 (toll-free) or UBS Securities LLC at (833) 481-0269 (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.
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Duke Energy Florida LLC published this content on March 13, 2026, and is solely responsible for the information contained herein. Distributed via EDGAR on March 13, 2026 at 20:14 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]