Filed
pursuant to Rule 433
Registration
Statement Nos. 333-137120, 333-137120-01, 333-137120-02,
333-137120-03,
333-137120-04,
333-137120-05, 333-137120-06, 333-137120-07 and 333-137120-08
FPL
GROUP CAPITAL INC
Pricing Term
Sheet
June 11,
2008
Issuer: FPL
Group Capital Inc
Underwriting
Agreement dated June 11, 2008
Joint
Book-Running Managers:
|
|
Barclays
Capital Inc.
|
|
|
Credit
Suisse Securities (USA) LLC
|
|
|
Greenwich
Capital Markets, Inc.
|
|
|
Lehman
Brothers Inc.
|
Co-Managers:
|
|
Lazard
Capital Markets LLC
|
|
|
Morgan
Keegan & Company, Inc.
|
|
Designation:
|
5.35%
Debentures, Series due June 15, 2013
|
|
Legal
Format:
|
SEC
Registered
|
|
Principal
Amount:
|
$250,000,000
|
|
Date
of Maturity:
|
June
15, 2013
|
|
Interest
Payment Dates:
|
Each
June 15 and December 15, beginning December 15, 2008
|
|
Coupon
Rate:
|
5.35%
|
|
Price
to Public:
|
99.992%
of the principal amount thereof
|
|
Treasury
Benchmark:
|
3.50%
due May 31, 2013
|
|
Benchmark
Yield:
|
3.472%
|
|
Spread
to Benchmark Treasury:
|
188
basis points
|
|
Reoffer
Yield:
|
5.352%
|
|
Trade
Date:
|
June
11, 2008
|
|
Settlement
Date:
|
June
17, 2008
|
|
Make-Whole
Call:
|
At
any time at 100% of the principal amount plus accrued and unpaid interest
plus Make-Whole Premium at discount rate equal to Treasury Yield plus 30
basis points
|
|
CUSIP
/ ISIN Number:
|
302570
BA3 / US302570BA31
|
Page 1 of
2
|
Designation:
|
Floating
Rate Debentures, Series due June 17, 2011
|
|
Legal
Format:
|
SEC
Registered
|
|
Principal
Amount:
|
$250,000,000
|
|
Date
of Maturity:
|
June
17, 2011
|
|
Interest
Payment Dates:
|
Each
March 17, June 17, September 17 and December 17, beginning September 17,
2008
|
|
Coupon
Rate:
|
Floating
rate based on three-month LIBOR rate (calculated as described in the
Preliminary Prospectus Supplement, dated June 11, 2008) plus 0.88%; reset
quarterly on each March 17, June 17, September 17 and December 17,
beginning September 17, 2008. The floating rate that will be in
effect on the Settlement Date will be determined on June 13,
2008.
|
|
Price
to Public:
|
100%
of the principal amount thereof
|
|
Trade
Date:
|
June
11, 2008
|
|
Settlement
Date:
|
June
17, 2008
|
|
CUSIP
/ ISIN Number:
|
302570
BB1 / US302570BB14
|
|
Expected
Credit Ratings (of each series):*
|
|
|
Moody’s
Investors Service Inc.
|
“A2”
(stable)
|
|
Standard
& Poor’s Ratings Services
|
“A-”
(stable)
|
|
Fitch
Ratings
|
“A”
(stable)
|
___________________
* A
security rating is not a recommendation to buy, sell or hold securities and
should be evaluated independently of any other rating. The rating is subject to
revision or withdrawal at any time by the assigning rating
organization.
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 Barclays Capital
Inc. toll-free at 1-888-227-2275 (ext. 2663), Credit Suisse Securities (USA) LLC
toll-free at 1-800-221-1037, Greenwich Capital Markets, Inc. toll-free at
1-866-884-2071 or Lehman Brothers Inc. toll-free at 1-888-603-5847.
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