Alabama Power Company
Series 2015A 3.750% Senior Notes due March 1, 2045
A1(Stable)/A (Negative)/A+ (Stable) (Moody’s/Standard & Poor’s/Fitch)
April 9, 2015
Expected Settlement Date:
April 14, 2015 (T+3)
$175,000,000 (Reopening of $550,000,000 of Series 2015A 3.750% Senior Notes due March 1, 2045 issued on March 11, 2015)
March 1, 2045
Interest Payment Dates:
March 1 and September 1 of each year, beginning September 1, 2015
Initial Public Offering Price:
101.051% plus accrued interest from March 11, 2015
3.000% due November 15, 2044
Benchmark Treasury Yield:
Spread to Benchmark Treasury:
+110 basis points
Prior to September 1, 2044 at T+20 basis points
On or after September 1, 2044 at 100%
Joint Book-Running Managers:
Citigroup Global Markets Inc.
J.P. Morgan Securities LLC
Scotia Capital (USA) Inc.
Wells Fargo Securities, LLC
BB&T Capital Markets, a division of BB&T Securities, LLC
Commerz Markets LLC
Regions Securities LLC
Mischler Financial Group, Inc.
Samuel A. Ramirez & Company, Inc.
$250,000,000 of Alabama Power Company’s Series 2015B 2.800% Senior Notes due April 1, 2025, expected to be issued on April 14, 2015. The closing of the offering of the additional Series 2015A Senior Notes is not contingent on the closing of the concurrent offering.