Filed Pursuant to Rule 433(d)
Registration Statement No. 333-157759
March 4, 2010
Final Term Sheet
| Issuer: |
TECO Finance, Inc. | TECO Finance, Inc. | ||
| Guarantor: |
TECO Energy, Inc. | TECO Energy, Inc. | ||
| Principal Amount: |
$250,000,000 | $300,000,000 | ||
| Maturity: |
March 15, 2016 | March 15, 2020 | ||
| Coupon: |
4.00% | 5.15% | ||
| Initial Price to Public: |
99.594 | 99.552 | ||
| Yield to maturity: |
4.077% | 5.208% | ||
| Spread to Benchmark Treasury: |
+180 bps | +160 bps | ||
| Benchmark Treasury: |
2.375% due February 28, 2015 | 3.625% due February 15, 2020 | ||
| Benchmark Treasury Yield: |
2.277% | 3.608% | ||
| Interest Payment Dates: |
March 15 and September 15, commencing September 15, 2010 | March 15 and September 15, commencing September 15, 2010 | ||
| Redemption Provisions: Make-whole call: |
At any time at a discount rate of Treasury plus 25 bps | At any time at a discount rate of Treasury plus 25 bps | ||
| Settlement: |
T+7; March 15, 2010 | T+7; March 15, 2010 | ||
| Ratings*(Moody’s/ S&P/Fitch): |
Baa3/BBB-/BBB- | Baa3/BBB-/BBB- | ||
| CUSIP: |
87875UAJ1 | 87875UAK8 | ||
| Joint Book-running Managers |
Citigroup Global Markets Inc., J.P. Morgan Securities Inc. & Morgan Stanley & Co. Incorporated | Citigroup Global Markets Inc., J.P. Morgan Securities Inc. & Morgan Stanley & Co. Incorporated | ||
| *Note: A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time. | ||||
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 Citigroup Global Markets Inc. at (877) 858-5407 (toll-free), J.P. Morgan Securities Inc. collect at (212) 834-4533 or Morgan Stanley & Co. Incorporated at (866) 718-1649.