Sector: Utility

Coupon is fixed at 6.2% until 7/1/2024 at which point it floats at 3 month Libor plus a spread of 4.01% until 7/1/2029 at which point it resets at 3 month Libor plus 4.26% and from 7/11/2049 until maturity it resets at 3 month Libor plus 5.01%.

It should be noted that this note contains a deferment provision on interest rate payments. The corporation may defer interest payments on 1 or more occasions for up to 5 consecutive years. Deferred interest will accrue, compounding on each subsequent interest payment date, until paid. No deferral may extend past the maturity date.

There is no publicly traded parent stock

NEE Capital may defer interest payments on the Junior Subordinated Debentures on one or more occasions for up to 10 consecutive years per deferral period as described in this prospectus supplement. Deferred interest payments will accrue additional interest at a rate equal to the interest rate on the Junior Subordinated Debentures, to the extent permitted by applicable law.

This issue contains the following provision which is not unusual for utility baby bonds.
So long as no event of default has occurred and is continuing, we may defer interest payments on one or more occasions for up to 40 consecutive quarterly periods, as described in this prospectus supplement. Any deferred interest payments will bear additional interest at the rate of 5.875% per year, to the extent legally permitted.