# EDGAR Filing Document

**Accession Number:** 0000037637
**File Stem:** 0001104659-25-115393
**Filing Date:** 2025-11
**Character Count:** 9010
**Document Hash:** 613a6895e13752c2fbe7b5c6c45a0471
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-25-115393.hdr.sgml**: 20251124

**ACCESSION NUMBER**: 0001104659-25-115393

**CONFORMED SUBMISSION TYPE**: FWP

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20251124

**DATE AS OF CHANGE**: 20251124

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** DUKE ENERGY FLORIDA, LLC
- **CENTRAL INDEX KEY:** 0000037637
- **STANDARD INDUSTRIAL CLASSIFICATION:** ELECTRIC SERVICES [4911]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 590247770
- **STATE OF INCORPORATION:** FL
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** FWP
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 333-290475-04
- **FILM NUMBER:** 251512700

**BUSINESS ADDRESS:**
- **STREET 1:** 299 FIRST AVENUE NORTH
- **CITY:** ST. PETERSBURG
- **STATE:** FL
- **ZIP:** 33701
- **BUSINESS PHONE:** 800-488-3853

**MAIL ADDRESS:**
- **STREET 1:** 299 FIRST AVENUE NORTH
- **CITY:** ST. PETERSBURG
- **STATE:** FL
- **ZIP:** 33701

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** DUKE ENERGY FLORIDA, LLC.
- **DATE OF NAME CHANGE:** 20150803

**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
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** DUKE ENERGY FLORIDA, LLC
- **CENTRAL INDEX KEY:** 0000037637
- **STANDARD INDUSTRIAL CLASSIFICATION:** ELECTRIC SERVICES [4911]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 590247770
- **STATE OF INCORPORATION:** FL
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** FWP

**BUSINESS ADDRESS:**
- **STREET 1:** 299 FIRST AVENUE NORTH
- **CITY:** ST. PETERSBURG
- **STATE:** FL
- **ZIP:** 33701
- **BUSINESS PHONE:** 800-488-3853

**MAIL ADDRESS:**
- **STREET 1:** 299 FIRST AVENUE NORTH
- **CITY:** ST. PETERSBURG
- **STATE:** FL
- **ZIP:** 33701

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** DUKE ENERGY FLORIDA, LLC.
- **DATE OF NAME CHANGE:** 20150803

**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

***Filed pursuant to Rule 433***

***November 24, 2025<br> Relating to***

***Preliminary Prospectus Supplement dated November 24, 2025***

***to***

***Prospectus dated September 23, 2025***

***Registration Statement No. 333-290475-04***

 ****

**Duke Energy Florida, LLC**

**$500,000,000 First Mortgage Bonds, 4.20% Series due 2030<br> $600,000,000 First Mortgage Bonds, 4.85% Series due 2035**

<u>Pricing Term Sheet</u>

---

| | | |
|:---|:---|:---|
| Issuer: | Duke Energy Florida, LLC (the "**Issuer**") | Duke Energy Florida, LLC (the "**Issuer**") |
| Trade Date: | November 24, 2025 | November 24, 2025 |
| Settlement Date: | November 26, 2025 (T + 2) | November 26, 2025 (T + 2) |
| Ratings (Moody's/S&P):\* | A1 (Stable) / A (Stable) | A1 (Stable) / A (Stable) |
| Interest Payment Dates: | June 1 and December 1 of each year, beginning on June 1, 2026 | June 1 and December 1 of each year, beginning on June 1, 2026 |
| Security Description: | First Mortgage Bonds, 4.20% Series due 2030 (the "**2030 Bonds**") | First Mortgage Bonds, 4.85% Series due 2035 (the "**2035 Bonds**") |
| Principal Amount: | $500000000 | $600000000 |
| Maturity Date: | December 1, 2030 | December 1, 2035 |
| Price to the Public: | 99.861% per 2030 Bond, plus accrued interest, if any, from November 26, 2025 | 99.968% per 2035 Bond, plus accrued interest, if any, from November 26, 2025 |
| Coupon: | 4.20% | 4.85% |
| Benchmark Treasury: | 3.625% due October 31, 2030 | 4.000% due November 15, 2035 |
| Benchmark Treasury Yield: | &nbsp;&nbsp;3.611% | 4.034% |
| Spread to Benchmark Treasury: | + 62 bps | + 82 bps |

---

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| | | |
|:---|:---|:---|
| Yield to Maturity: | 4.231% | 4.854% |
| Redemption Provisions/<br> Make-Whole Call: | &nbsp;&nbsp;Prior to November 1, 2030 (which is the date that is one month prior to the maturity date of the 2030 Bonds (the "**2030 Par Call Date**")), the Issuer may redeem the 2030 Bonds at its option, in whole or in part, at any time and from time to time, at a redemption price (expressed as a percentage of principal amount and rounded to three decimal places) equal to the greater of: (1) (a) the sum of the present values of the remaining scheduled payments of principal and interest thereon discounted to the redemption date (assuming the 2030 Bonds matured on the 2030 Par Call Date) on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 10 basis points, less (b) interest accrued to the redemption date; and (2) 100% of the principal amount of the 2030 Bonds being redeemed, plus, in either case, accrued and unpaid interest thereon to, but excluding, the redemption date. <br>On or after the 2030 Par Call Date, the Issuer may redeem the 2030 Bonds at its option, in whole or in part, at any time and from time to time, at a redemption price equal to 100% of the principal amount of the 2030 Bonds to be redeemed plus accrued and unpaid interest thereon to, but excluding, the redemption date.  | &nbsp;&nbsp;Prior to September 1, 2035 (which is the date that is three months prior to the maturity date of the 2035 Bonds (the "**2035 Par Call Date**")), the Issuer may redeem the 2035 Bonds at its option, in whole or in part, at any time and from time to time, at a redemption price (expressed as a percentage of principal amount and rounded to three decimal places) equal to the greater of: (1) (a) the sum of the present values of the remaining scheduled payments of principal and interest thereon discounted to the redemption date (assuming the 2035 Bonds matured on the 2035 Par Call Date) on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate plus 15 basis points, less (b) interest accrued to the redemption date; and (2) 100% of the principal amount of the 2035 Bonds being redeemed, plus, in either case, accrued and unpaid interest thereon to, but excluding, the redemption date. <br>On or after the 2035 Par Call Date, the Issuer may redeem the 2035 Bonds at its option, in whole or in part, at any time and from time to time, at a redemption price equal to 100% of the principal amount of the 2035 Bonds to be redeemed plus accrued and unpaid interest thereon to, but excluding, the redemption date.  |

---

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| | | |
|:---|:---|:---|
| CUSIP / ISIN: | 26444H AT8 / US26444HAT86 | 26444H AU5 / US26444HAU59 |
| Joint Book-Running Managers: | &nbsp;&nbsp; CIBC World Markets Corp.<br> Citigroup Global Markets Inc.<br> Morgan Stanley & Co. LLC<br> MUFG Securities Americas Inc.<br> Santander US Capital Markets LLC<br> SMBC Nikko Securities America, Inc.<br> TD Securities (USA) LLC<br> U.S. Bancorp Investments, Inc. | &nbsp;&nbsp; CIBC World Markets Corp.<br> Citigroup Global Markets Inc.<br> Morgan Stanley & Co. LLC<br> MUFG Securities Americas Inc.<br> Santander US Capital Markets LLC<br> SMBC Nikko Securities America, Inc.<br> TD Securities (USA) LLC<br> U.S. Bancorp Investments, Inc. |
| Co-Managers: | &nbsp;&nbsp; BNY Mellon Capital Markets, LLC<br> Regions Securities LLC<br> Siebert Williams Shank & Co., LLC | &nbsp;&nbsp; BNY Mellon Capital Markets, LLC<br> Regions Securities LLC<br> Siebert Williams Shank & Co., LLC |

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\* 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 CIBC World Markets Corp. toll-free at (800) 282-0822; Citigroup Global Markets Inc. toll-free at (800) 831-9146; Morgan Stanley & Co. LLC toll-free at (866) 718-1649; MUFG Securities Americas Inc. toll-free at (877) 649-6848; Santander US Capital Markets LLC toll-free at (855) 403-3636; SMBC Nikko Securities America, Inc. toll-free at (888) 868-6856; TD Securities (USA) LLC toll-free at (855) 495-9846; or U.S. Bancorp Investments, Inc. toll-free at (877) 558-2607.**

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