Filed Pursuant to Rule 433
Registration Nos. 333-126348, 333-126348-01, 333-126348-02, 333-126348-03
February 1, 2006
PRICING TERM SHEET
(To Prospectus Supplement dated January 31, 2006)
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Issuer: |
Alabama Power Company |
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Security: |
Series GG Senior Notes |
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Ratings: |
Aaa by Moody’s, AAA by Standard & Poors |
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Insurer: |
Ambac Assurance Corporation |
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Size: |
$100,000,000 (4 million Notes) |
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Price: |
$25 |
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Maturity: |
February 1, 2046 |
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Redemption Terms: |
Callable in whole or in part any time on or after February 1, 2011 at par |
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Coupon: |
5 7/8% |
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Interest Payment Dates: |
February 1, May 1, August 1 and November 1 of each year beginning May 1, 2006 |
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Format: |
SEC Registered |
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Expected Listing: |
NYSE |
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Proceeds to Issuer: |
96.850% of principal amount |
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Transaction Date: |
February 1, 2006 |
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Expected Settlement Date: |
February 8, 2006 (T+5) |
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CUSIP: |
010392 ES 3 |
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Lead Manager: |
Merrill Lynch, Pierce, Fenner & Smith Incorporated |
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Sr. Co-Managers: |
A.G. Edwards & Sons, Inc. |
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UBS Securities LLC |
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Jr. Co-Managers: |
Morgan Keegan & Company, Inc. RBC Dain Rauscher Inc. Samuel A. Ramirez & Co., Inc. Stifel, Nicolaus & Company, Incorporated Pershing LLC Synovus Securities, Inc. |
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 toll-free 1-800-248-3580.