# EDGAR Filing Document

**Accession Number:** 0001348952
**File Stem:** 0001193125-26-064286
**Filing Date:** 2026-2
**Character Count:** 9470
**Document Hash:** f7dbde22eed73c6f87994dda5cf855ef
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-064286.hdr.sgml**: 20260223

**ACCESSION NUMBER**: 0001193125-26-064286

**CONFORMED SUBMISSION TYPE**: FWP

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20260223

**DATE AS OF CHANGE**: 20260223

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ENTERGY LOUISIANA, LLC
- **CENTRAL INDEX KEY:** 0001348952
- **STANDARD INDUSTRIAL CLASSIFICATION:** ELECTRIC SERVICES [4911]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 474469646
- **STATE OF INCORPORATION:** TX
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** FWP
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 333-289302-04
- **FILM NUMBER:** 26666257

**BUSINESS ADDRESS:**
- **STREET 1:** 4809 JEFFERSON HIGHWAY
- **CITY:** JEFFERSON
- **STATE:** LA
- **ZIP:** 70121
- **BUSINESS PHONE:** 504-576-4000

**MAIL ADDRESS:**
- **STREET 1:** 4809 JEFFERSON HIGHWAY
- **CITY:** JEFFERSON
- **STATE:** LA
- **ZIP:** 70121

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Entergy Louisiana, LLC
- **DATE OF NAME CHANGE:** 20060105
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ENTERGY LOUISIANA, LLC
- **CENTRAL INDEX KEY:** 0001348952
- **STANDARD INDUSTRIAL CLASSIFICATION:** ELECTRIC SERVICES [4911]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 474469646
- **STATE OF INCORPORATION:** TX
- **FISCAL YEAR END:** 1231

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

**BUSINESS ADDRESS:**
- **STREET 1:** 4809 JEFFERSON HIGHWAY
- **CITY:** JEFFERSON
- **STATE:** LA
- **ZIP:** 70121
- **BUSINESS PHONE:** 504-576-4000

**MAIL ADDRESS:**
- **STREET 1:** 4809 JEFFERSON HIGHWAY
- **CITY:** JEFFERSON
- **STATE:** LA
- **ZIP:** 70121

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Entergy Louisiana, LLC
- **DATE OF NAME CHANGE:** 20060105

**Filed Pursuant to Rule 433** 

**Registration No. 333-289302-04** 

**ENTERGY LOUISIANA, LLC** 

**$1,500,000,000** 

**$750,000,000 Collateral Trust Mortgage Bonds 4.90% Series due April 15, 2036 (the "2036 Bonds")** 

**$750,000,000 Collateral Trust Mortgage Bonds 5.65% Series due April 15, 2056 (the "2056 Bonds")** 

<u>Final Terms and Conditions</u> 

February 23, 2026

---

| | |
|:---|:---|
| **Issuer:** | Entergy Louisiana, LLC |
| **Security Type:** | Collateral Trust Mortgage Bonds (SEC Registered) |
| **Expected Ratings<sup>(1)</sup>:** | A2 (stable outlook) by Moody's Investors Service, Inc.<br> A (stable outlook) by S&P Global Ratings |
| **Trade Date:** | February 23, 2026 |
| **Settlement Date (T+3)<sup>(2)</sup>:** | February 26, 2026 |
| **Principal Amount:** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2036 Bonds: | $750000000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2056 Bonds: | $750000000 |
| **Interest Rate:** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2036 Bonds: | 4.90% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2056 Bonds: | 5.65% |
| **Interest Payment Dates:** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2036 Bonds: | April 15 and October 15 of each year |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2056 Bonds: | April 15 and October 15 of each year |
| **First Interest Payment Date:** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2036 Bonds: | October 15, 2026 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2056 Bonds: | October 15, 2026 |
| **Final Maturity Date:** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2036 Bonds: | April 15, 2036 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2056 Bonds: | April 15, 2056 |

---

------

---

| | |
|:---|:---|
| **Optional Redemption Terms:** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2036 Bonds: | In whole or in part, make-whole call at any time prior to January 15, 2036 at a discount rate of Treasury plus 15 bps and, thereafter, at 100% of the principal amount of the 2036 Bonds being redeemed plus accrued and unpaid interest thereon to the redemption date. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2056 Bonds: | In whole or in part, make-whole call at any time prior to October 15, 2055 at a discount rate of Treasury plus 15 bps and, thereafter, at 100% of the principal amount of the 2056 Bonds being redeemed plus accrued and unpaid interest thereon to the redemption date. |
| **Call for Tax Credit Event:** | Upon a notice of redemption, in whole but not in part, at 101% of the principal amount of the series of Bonds to be redeemed plus, in each case, accrued and unpaid interest thereon to the redemption date (provided, that such notice may be issued no later than December 31, 2026, for a redemption no less than 10 days nor more than 60 days after such notice). |
| **Benchmark Treasury:** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2036 Bonds: | 4.125% due February 15, 2036 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2056 Bonds: | 4.625% due November 15, 2055 |
| **Benchmark Treasury Price:** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2036 Bonds: | 100-25+ |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2056 Bonds: | 98-27+ |
| **Benchmark Treasury Yield:** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2036 Bonds: | 4.027% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2056 Bonds: | 4.696% |
| **Spread to Benchmark Treasury:** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2036 Bonds: | 88 bps |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2056 Bonds: | 98 bps |
| **Re-offer Yield:** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2036 Bonds: | 4.907% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2056 Bonds: | 5.676% |
| **Price to Public:** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2036 Bonds: | 99.935% of the principal amount of the 2036 Bonds |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2056 Bonds: | 99.613% of the principal amount of the 2056 Bonds |

---

------

---

| | |
|:---|:---|
| **Net Proceeds After Underwriting Discount and Before Expenses:** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2036 Bonds: | $744637500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2056 Bonds: | $740535000 |
| **CUSIP / ISIN:** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2036 Bonds: | 29364WBR8 / US29364WBR88 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2056 Bonds: | 29364WBS6 / US29364WBS61 |
| **Joint Book-Running Managers:** | J.P. Morgan Securities LLC<br> Morgan Stanley & Co. LLC<br> Scotia Capital (USA) Inc.<br> SMBC Nikko Securities America, Inc.<br> TD Securities (USA) LLC<br> KeyBanc Capital Markets Inc.<br> RBC Capital Markets, LLC<br> Regions Securities LLC |
| **Co-Manager:** | Siebert Williams Shank & Co., LLC |
| **In addition to the information set forth above, the fifth paragraph under the caption "Underwriting - General" in the preliminary prospectus supplement dated February 23, 2026 is replaced in its entirety as follows:** | **In addition to the information set forth above, the fifth paragraph under the caption "Underwriting - General" in the preliminary prospectus supplement dated February 23, 2026 is replaced in its entirety as follows:** |
| We estimate that the total expenses payable by us for this offering will be $2,700,000, excluding the underwriting discounts. | We estimate that the total expenses payable by us for this offering will be $2,700,000, excluding the underwriting discounts. |

---

<sup>(1)</sup> A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time. Rating outlook is assigned at the issuer level and not to individual securities and may be subject to revision at any time.

<sup>(2)</sup> It is expected that delivery of the bonds will be made on or about February 26, 2026, 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 one business day (T+1), unless the parties to any such trade expressly agree otherwise. Accordingly, purchasers who wish to trade the bonds more than one business day prior to the scheduled settlement date will be required, by virtue of the fact that the bonds will initially 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 one business day 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 <u>www.sec.gov</u>.

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) Morgan Stanley & Co. LLC toll-free at 1-866-718-1649, (iii) Scotia Capital (USA) Inc. toll-free at 1-800-372-3930, (iv) SMBC Nikko Securities America, Inc. toll-free at 1-888-868-6856, or (v) TD Securities (USA) LLC toll-free at 1-855-495-9846.