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As Of Filer Filing For·On·As Docs:Size Issuer 5/03/23 Alabama Power Co. FWP 1:36K Alabama Power Co. |
Document/Exhibit Description Pages Size 1: FWP Free-Writing Prospectus HTML 34K
Document |
Issuer: | Alabama Power Company (the "Company") | ||||||||||
Security: | Series 2023A Floating Rate Senior Notes due May 15, 2073 (the "Series 2023A Senior Notes") | ||||||||||
Expected Ratings:* | A1(Stable)/A-(Stable)/A+(Negative) (Moody’s/Standard & Poor’s/Fitch) | ||||||||||
Principal Amount: | $200,000,000 | ||||||||||
Initial Public Offering Price: | 100% | ||||||||||
Maturity Date: | May 15, 2073 | ||||||||||
Interest and Interest Payment Dates: | Floating rate based on Compounded SOFR (calculated as described in the Preliminary Prospectus Supplement), minus 0.35%, calculated quarterly, and payable on February 15, May 15, August 15 and November 15 of each year, beginning August 15, 2023 | ||||||||||
Optional Redemption: | On or after May 15, 2053, the Company may redeem the Series 2023A Senior Notes at its option, in whole or in part, at any time and from time to time, upon not less than 10 nor more than 60 days’ notice, at the following redemption prices (in each case expressed as a percentage of the principal amount), if redeemed during the twelve-month periods beginning on May 15 as set forth below: | ||||||||||
Twelve-Month Period Beginning on | Redemption Price | ||||||||||
May 15, 2053 | 105.00% | ||||||||||
May 15, 2054 | 104.50% | ||||||||||
May 15, 2055 | 104.00% | ||||||||||
May 15, 2056 | 103.50% | ||||||||||
May 15, 2057 | 103.00% | ||||||||||
May 15, 2058 | 102.50% | ||||||||||
May 15, 2059 | 102.00% | ||||||||||
May 15, 2060 | 101.50% | ||||||||||
May 15, 2061 | 101.00% | ||||||||||
May 15, 2062 | 100.50% | ||||||||||
May 15, 2063 | 100.00% | ||||||||||
and thereafter at 100% of the principal amount, in each case, together with any accrued and unpaid interest thereon to but excluding the redemption date |
Repayment at Option of Holder: | The Series 2023A Senior Notes will be repayable at the option of a holder of the Series 2023A Senior Notes, in whole or in part, on the repayment dates and at the repayment prices (in each case expressed as a percentage of the principal amount) as set forth below: | ||||||||||
Repayment Date | Repayment Price | ||||||||||
May 15, 2024 | 98.00% | ||||||||||
November 15, 2024 | 98.00% | ||||||||||
May 15, 2025 | 98.00% | ||||||||||
November 15, 2025 | 98.00% | ||||||||||
May 15, 2026 | 98.00% | ||||||||||
November 15, 2026 | 98.00% | ||||||||||
May 15, 2027 | 98.00% | ||||||||||
November 15, 2027 | 98.00% | ||||||||||
May 15, 2028 | 98.00% | ||||||||||
November 15, 2028 | 99.00% | ||||||||||
May 15, 2029 | 99.00% | ||||||||||
November 15, 2029 | 99.00% | ||||||||||
May 15, 2030 | 99.00% | ||||||||||
November 15, 2030 | 99.00% | ||||||||||
May 15, 2031 | 99.00% | ||||||||||
November 15, 2031 | 99.00% | ||||||||||
May 15, 2032 | 99.00% | ||||||||||
November 15, 2032 | 99.00% | ||||||||||
May 15, 2033 | 99.00% | ||||||||||
November 15, 2033 | 99.00% | ||||||||||
May 15, 2034 | 100.00% | ||||||||||
and on May 15 of every second year thereafter, through and including May 15, 2070, at 100% of the principal amount, in each case, together with any accrued and unpaid interest thereon to but excluding the repayment date | |||||||||||
Format: | SEC Registered | ||||||||||
Denominations: | $1,000 and integral multiples of $1,000 | ||||||||||
CUSIP/ISIN: | 010392 GA0/US010392GA07 | ||||||||||
Trade Date: | May 3, 2023 | ||||||||||
Expected Settlement Date: | May 8, 2023 (T+3) | ||||||||||
Book-Running Manager: | Morgan
Stanley & Co. LLC |
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Filed on: | 5/3/23 | |||
5/1/23 | 424B5 | |||
List all Filings |