Filed Pursuant to Rule 433
Registration No. 333-266624-02

ENTERGY TEXAS, INC.

$350,000,000

First Mortgage Bonds,

5.80% Series due September 1, 2053

Final Terms and Conditions

August 8, 2023

 

Issuer:    Entergy Texas, Inc.
Security Type:    First Mortgage Bonds (SEC Registered)
Expected Ratings(1):   

A3 (stable outlook) by Moody’s Investors Service, Inc.

A (stable outlook) by S&P Global Ratings

Trade Date:    August 8, 2023
Settlement Date (T+3)(2):    August 11, 2023
Principal Amount:    $350,000,000
Interest Rate:    5.80%
Interest Payment Dates:    March 1 and September 1 of each year
First Interest Payment Date:    March 1, 2024
Final Maturity Date:    September 1, 2053
Optional Redemption Terms:    Make-whole call at any time prior to March 1, 2053 at a discount rate of Treasury plus 25 bps and, thereafter, at par
Benchmark Treasury:    3.625% due February 15, 2053
Benchmark Treasury Price:    89-30+
Benchmark Treasury Yield:    4.224%
Spread to Benchmark Treasury:    +160 bps

 

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Re-offer Yield:    5.824%
Price to Public:    99.656% of the principal amount
Net Proceeds After Underwriting Discount and Before Expenses:    $345,733,500
CUSIP / ISIN:    29365T AN4 / US29365TAN46
Joint Book-Running Managers:   

BNP Paribas Securities Corp.

BofA Securities, Inc.

Goldman Sachs & Co. LLC

Regions Securities LLC

Scotia Capital (USA) Inc.

Co-Manager:    Siebert Williams Shank & Co., LLC

 

 

(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 August 11, 2023, 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 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 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 (i) BNP Paribas Securities Corp. toll-free at 1-800-854-5674, (ii) BofA Securities, Inc. toll-free at 1-800-294-1322, (iii) Goldman Sachs & Co. LLC toll-free at 1-866-471-2526, (iv) Regions Securities LLC toll-free at 1-800-734-4667, or (v) Scotia Capital (USA) Inc. toll-free at 1-800-372-3930.

 

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