0000003153-14-000013.txt : 20140820 0000003153-14-000013.hdr.sgml : 20140820 20140820133427 ACCESSION NUMBER: 0000003153-14-000013 CONFORMED SUBMISSION TYPE: FWP PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20140820 DATE AS OF CHANGE: 20140820 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: ALABAMA POWER CO CENTRAL INDEX KEY: 0000003153 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 630004250 STATE OF INCORPORATION: AL FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: FWP SEC ACT: 1934 Act SEC FILE NUMBER: 333-194227 FILM NUMBER: 141054399 BUSINESS ADDRESS: STREET 1: 600 N 18TH ST STREET 2: P O BOX 2641 CITY: BIRMINGHAM STATE: AL ZIP: 35291 BUSINESS PHONE: 2052571000 MAIL ADDRESS: STREET 1: 600 N 18TH ST CITY: BIRMINGHAM STATE: AL ZIP: 35291 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: ALABAMA POWER CO CENTRAL INDEX KEY: 0000003153 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 630004250 STATE OF INCORPORATION: AL FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: FWP BUSINESS ADDRESS: STREET 1: 600 N 18TH ST STREET 2: P O BOX 2641 CITY: BIRMINGHAM STATE: AL ZIP: 35291 BUSINESS PHONE: 2052571000 MAIL ADDRESS: STREET 1: 600 N 18TH ST CITY: BIRMINGHAM STATE: AL ZIP: 35291 FWP 1 al2014afwp.htm FWP AL 2014A FWP



Filed Pursuant to Rule 433
Registration No. 333-194227
August 20, 2014

PRICING TERM SHEET
(To Preliminary Prospectus Supplement dated August 20, 2014)
Issuer:
Alabama Power Company
Security:
Series 2014A 4.150% Senior Notes due August 15, 2044
Expected Ratings:*
A1(Stable)/A (Negative)/A+ (Stable) (Moody’s/Standard & Poor’s/Fitch)
Size:
$400,000,000
Trade Date:
August 20, 2014
Expected Settlement Date:
August 26, 2014 (T+4)
Maturity Date:
August 15, 2044
Interest Payment Dates:
February 15 and August 15 of each year, beginning February 15, 2015
Coupon:
4.150%
Initial Public Offering Price:
99.204%
Benchmark Treasury:
3.375% due May 15, 2044
Benchmark Treasury Yield:
3.217%
Spread to Benchmark Treasury:
+ 98 basis points
Re-Offer Yield:
4.197%
Make-Whole Call:
Prior to February 15, 2044 at T+15 basis points
Par Call:
On or after February 15, 2044 at 100%
Denominations:
$1,000 and any integral multiple thereof
Format:
SEC Registered
CUSIP/ISIN:
010392FL7/US010392FL70
Joint Book-Running Managers:
Merrill Lynch, Pierce, Fenner & Smith
                      Incorporated
Morgan Stanley & Co. LLC
SunTrust Robinson Humphrey, Inc.
Wells Fargo Securities, LLC
Co-Managers:
BBVA Securities Inc.
BNP Paribas Securities Corp.
BNY Mellon Capital Markets, LLC
Mizuho Securities USA Inc.
Regions Securities LLC
Sterne, Agee & Leach, Inc.
U.S. Bancorp Investments, Inc.

*Note: A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time.





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 website 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 Alabama Power Company collect at 1-205-257-2714, Merrill Lynch, Pierce, Fenner & Smith Incorporated toll free at 1-800-294-1322, Morgan Stanley & Co. LLC toll free at 1-866-718-1649, SunTrust Robinson Humphrey, Inc. toll free at 1-800-685-4786 or Wells Fargo Securities, LLC toll free at 1-800-326-5897.



 GRAPHIC 3 apcoletterheada02.jpg begin 644 apcoletterheada02.jpg M_]C_X``02D9)1@`!`0$!+`$L``#_X0"617AI9@``24DJ``@````#`#$!`@`> M````,@```#(!`@`4````4````&F'!``!````9`````````!!9&]B92!0:&]T M;W-H;W`@0U,S($UA8VEN=&]S:``R,#`X.C$P.C(R(#$U.C$X.C(X``,``:`# M``$````!`````J`$``$```!3!@```Z`$``$```#G`@```````/_B#%A)0T-? M4%)/1DE,10`!`0``#$A,:6YO`A```&UN=')21T(@6%E:(`?.``(`"0`&`#$` M`&%C'0`````0V]P>7)I M9VAT("AC*2`Q.3DX($AE=VQE='0M4&%C:V%R9"!#;VUP86YY``!D97-C```` M`````!)S4D="($E%0S8Q.38V+3(N,0``````````````$G-21T(@245#-C$Y M-C8M,BXQ```````````````````````````````````````````````````` M``````````````!865H@````````\U$``0````$6S%A96B`````````````` M````````6%E:(````````&^B```X]0```Y!865H@````````8ID``+>%```8 MVEA96B`````````DH```#X0``+;/9&5S8P`````````6245#(&AT='`Z+R]W M=W`&,`:`!M`'(`=P!\`($`A@"+`)``E0": M`)\`I`"I`*X`L@"W`+P`P0#&`,L`T`#5`-L`X`#E`.L`\`#V`/L!`0$'`0T! M$P$9`1\!)0$K`3(!.`$^`44!3`%2`5D!8`%G`6X!=0%\`8,!BP&2`9H!H0&I M`;$!N0'!`$!Z0'R`?H"`P(,`A0"'0(F`B\".`)!`DL"5`)=`F<" M<0)Z`H0"C@*8`J("K`*V`L$"RP+5`N`"ZP+U`P`#"P,6`R$#+0,X`T,#3P-: M`V8#<@-^`XH#E@.B`ZX#N@/'`],#X`/L`_D$!@03!"`$+00[!$@$501C!'$$ M?@2,!)H$J`2V!,0$TP3A!/`$_@4-!1P%*P4Z!4D%6`5G!7<%A@66!:8%M07% M!=4%Y07V!@8&%@8G!C<&2`99!FH&>P:,!IT&KP;`!M$&XP;U!P<'&09!ZP'OP?2!^4'^`@+"!\(,@A&"%H(;@B"")8(J@B^"-((YPC[ M"1`))0DZ"4\)9`EY"8\)I`FZ"<\)Y0G["A$*)PH]"E0*:@J!"I@*K@K%"MP* M\PL+"R(+.0M1"VD+@`N8"[`+R`OA"_D,$@PJ#$,,7`QU#(X,IPS`#-D,\PT- M#28-0`U:#70-C@VI#<,-W@WX#A,.+@Y)#F0.?PZ;#K8.T@[N#PD/)0]!#UX/ M>@^6#[,/SP_L$`D0)A!#$&$0?A";$+D0UQ#U$1,1,1%/$6T1C!&J$)%ZX7TA?W M&!L80!AE&(H8KQC5&/H9(!E%&6L9D1FW&=T:!!HJ&E$:=QJ>&L4:[!L4&SL; M8QN*&[(;VAP"'"H<4AQ['*,0!YJ'I0>OA[I M'Q,?/A]I'Y0?OQ_J(!4@02!L()@@Q"#P(1PA2"%U(:$ASB'[(B--@U M$S5--8Y",$)R0K5"]T,Z0WU#P$0#1$=$BD3.11)%546: M1=Y&(D9G1JM&\$25^!8+UA]6,M9 M&EEI6;A:!UI66J9:]5M%6Y5;Y5PU7(9O5\/7V%?LV`% M8%=@JF#\84]AHF'U8DEBG&+P8T-CEV/K9$!DE&3I93UEDF7G9CUFDF;H9SUG MDV?I:#]HEFCL:4-IFFGQ:DAJGVKW:T]KIVO_;%=LKVT(;6!MN6X2;FMNQ&\> M;WAOT7`K<(9PX'$Z<95Q\')+%V/G:;=OAW M5G>S>!%X;GC,>2IYB7GG>D9ZI7L$>V-[PGPA?(%\X7U!?:%^`7YB?L)_(W^$ M?^6`1X"H@0J!:X'-@C""DH+T@U>#NH0=A("$XX5'A:N&#H9RAM>'.X>?B`2( M:8C.B3.)F8G^BF2*RHLPBY:+_(QCC,J-,8V8C?^.9H[.CS:/GI`&D&Z0UI$_ MD:B2$9)ZDN.339.VE""4BI3TE5^5R98TEI^7"I=UE^"83)BXF229D)G\FFB: MU9M"FZ^<')R)G/>=9)W2GD">KI\=GXN?^J!IH-BA1Z&VHB:BEJ,&HW:CYJ16 MI,>E.*6IIAJFBZ;]IVZGX*A2J,2I-ZFIJARJCZL"JW6KZ:QK_UP'#`[,%GP>/"7\+;PUC# MU,11Q,[%2\7(QD;&P\=!Q[_(/%$XIZ#+HO.E&Z=#J6^KEZW#K^^R&[1'MG.XH[K3O0._,\%CPY?%R\?_R MC/,9\Z?T-/3"]5#UWO9M]OOWBO@9^*CY./G'^E?ZY_MW_`?\F/TI_;K^2_[< M_VW____;`$,`!`(#`P,"!`,#`P0$!`0%"08%!04%"P@(!@D-"PT-#0L,#`X0 M%!$.#Q,/#`P2&!(3%187%Q<.$1D;&18:%!87%O_;`$,!!`0$!04%"@8&"A8/ M#`\6%A86%A86%A86%A86%A86%A86%A86%A86%A86%A86%A86%A86%A86%A86 M%A86%A86%O_``!$(`$D`H`,!(@`"$0$#$0'_Q``?```!!0$!`0$!`0`````` M`````0(#!`4&!P@)"@O_Q`"U$``"`0,#`@0#!04$!````7T!`@,`!!$%$B$Q M008346$'(G$4,H&1H0@C0K'!%5+1\"0S8G*""0H6%Q@9&B4F)R@I*C0U-CH.$A8:'B(F*DI.4 ME9:7F)F:HJ.DI::GJ*FJLK.TM;:WN+FZPL/$Q<;'R,G*TM/4U=;7V-G:X>+C MY.7FY^CIZO'R\_3U]O?X^?K_Q``?`0`#`0$!`0$!`0$!`````````0(#!`4& M!P@)"@O_Q`"U$0`"`0($!`,$!P4$!``!`G<``0(#$00%(3$&$D%1!V%Q$R(R M@0@40I&AL<$)(S-2\!5B7J"@X2%AH>(B8J2DY25EI>8F9JB MHZ2EIJ>HJ:JRL[2UMK>XN;K"P\3%QL?(RKR M\_3U]O?X^?K_V@`,`P$``A$#$0`_`/OZBBB@`HHHH`****`"BBB@`HHHH`** M**`"BBB@`HHHH`QOB!XDT_PAX.O_`!%J;8@L82^T'!D;HJ#W9B!^->&_LE_% MW4-=\:ZIX>\3W>^;6)WO=/9CQ&_5X%]MH!4?[)]:K?M[WWB8G2=/%C-'X<7] MZUTIRDUR<@*^/N[5Z9Z[CZ5\ZZ5?7>F:I;ZC83M!=6DJS02J>4=3D'\Q7S&8 MYG4I8V*C\,=_.^__``#]?X7X0PN-X?J3JM.I6V>_);;YWUDNVA^CU%>*4+P3&X;'Y5\T?M_>(9+W M5/#_`(#L29)'?[9/&O.YV/EPKCU^^?Q%8_['5]>>`_CSK/P^U=EC:]#V[*#\ MIN(O%/FUL3[/W;GU:][9I/Y+W<"RYQL,@#9],5/7Q3\7E7_`(;5 MD.T9_P"$@L/Y05]=_$GQ#!X4\!:MXBN"-NG6CRJ#_$^,(OXL0/QH3N*4+6\S M3^WV/G>5]MM_,W;=GFKG/IC/6I+B>&"/?/-'$N<;G8*,_C7YU#2]>&@?\+#Y MV?VSY/VG^+[5M\[=GZ_K7TG^U=X@M_%G[)^B^(H,;-1O+29E'\#['#+^#`C\ M*2D4Z=FE<]^AO[&601Q7EN[GHJRJ2?PS4[LJ(69@JJ,DDX`%?G+-'X5@\$6% MUI^HZDOBG[6_VJ!5VP1PC.QE<8(;[O0GJ>F*^F?B]XHUOPW^QMIEKKM\)M=U MVTBL6E$PD9D;+,2P.&/E#!.>IH4@E3M;4][M[VSGD\N"[@E?&=J2!C^0I]Q/ M#;IOGFCB4G&YV"C/XU\&?#&34OAA\2O!WBJ_3R;34XENLC^*UD=HGS[X&[_O MFO;?^"AVHJO@SPYIBN"MU?27!P>"$CP#_P"1*.;2XG3]Y(^AH+B":(RPSQR( M."R."!^(IEO>V<\GEP7<$K8SM20,$LA^API'X4<^PW2 MW/N&XG@MT#SS1Q*3@%V"C/XT6UQ!<(6MYHY5!P3&X8`_A7R]^W9K,^O^/_#O MP\TT^9(C++)&.3)^BBGS:V%[/W;GU54=Q<6]N`9YXX@W3>X7/YT]B%4LQ``&23VKXA_:?\` M'Y\>_$:5K24OI&E%K:P&?E?!^>7_`($1Q_LA:XLPQT<'34FKM[(^@X9X']8TJ?3-4>PN[.Y0I-!-(K*ZGU&:^3/V M@O@K<^$3/X@\+2'4_#H;,H1_,EL/9\?>3_:[=_4^0)'O<(D>YF.%4#))[`5] M8ZC\+O%NG?LVV'@3PG!:)?ZDXGUR::?RN6PS(.#GG:G^ZI]:\66(69PE>EK% M:-.[OT6W4_0*662X0Q%%QQB<:LK.,H\L>5?%*_,[-+:V[:6QY1^R'\0?^$/^ M((TC4)]FD:ZRPREC\L,W2.3V!SM/L0>U?9E?%&N?`;QKHT'G:QJ/AK3X\9WW M6KK$/U45])_LX>,%\2>"DTN]UG3]2UC156"]ELIS(DJ\A)-Q`R2!@D9Y!]:Z M]R(_-_:L^._CAX&^)-]\>] M1\6^'/"&JRQFZM[NSF\A64,L41&03SAEP0?0UN?$"7XY>,/@C_86O^%M3N=2 MN]9W2B&S2+;:QQJR@A3@YD.?^`5]444%U--:J+@LQ/RF0M@+ MS_*KGC_X8_%=_#WACP;_`,(]?W]OHUN[-+!AX(I9Y"S(&SR$78"1QG=BOM&B MER(?M7V/D#XP_`_XM1>'M,:ZU<^+4L<6EK9VD9WV<6WMNQ\OR*/RIOQD\+_% M'QMX9\$VLW@S6&N=)TIK6])B'RR>9LW'GND:-^-?8-0:G*\&FW$\>-\4+.N1 MQD`FGR(2J,^5?VA/@GXDU3XRV4OAW1IYM-U>&V6[N8E'EVC@"*1FYX^50WXF MK_Q#^'GBG2/VI=&U[PUX7OKC1+&73L3V\8*(D:I&XZ]E7FL'PC\>/CEXHO); M3P]I^G:E<00&>6*WT[+*@(!;&_GDCISS7IGP5_:$M]<\#:_J/C&TBL[SPY`L M\YM0=MTC':H56.5??A<9QEA4KE9;YTCS.Y^'/Q9\;_'R_P#$:Z;?>&WFO)+F MTU.\C^6V5.(@,9.[:%`J+4_AK\7?!OQLL/$PL;SQ3=07$5Y/J-G'E9^=KHV< M'=M!!^HJ35OVD/BKKFIW-QX8TJWM;*V!=H8-/:[:*/UE?M]0`*ZOP?\`M$>( MO$WP[UVVAM;&S\6:59&^M76(O;WL49!E&PG*N$W'&3GJ.E+W1^^NAZ;^TS?> M+F^'#:1X,T/4+Z^U@&&:2WCYM82/GR<\,P.T?4GM7RJ/A)\34&10V\'DYYV?G7G8S+*>+J*)?$\TVD MB/1A:QQ8L,!I9I@I!^;G"!OS%6OAW\5/VA?&,":AH6BZ=?Z?'=""XGCM$4*1 MM+#YI`J\,/<>]=9\1$(!8L!RS4O@+X M^>/=*^*MMX,^)6AVD+W-U':R&&(Q2VSR8"-@,RNIW+T['(-*GDE*G44XS=T_ M(TQ/B%C<3AI8>KAZ;A)6:][9_,^EZ***]X_-PHHHH`****`"BBB@`JKKG_($ MO/\`KWD_]!-6J;*B2Q-'(H9'!5E/0@]J`/@?]G;1?&OB#QCO:E^SWJ?A?X#>)TBOAJ_B&^6&5H[9"$\J&02& M-,\LQY.3U(``]?>/"7P_\%>%]3;4?#WAG3]-NFC,1FMX=K%"02N?3('Y5TE0 MH=S655MZ'Q?^S+\:='^&?AK5M)U30;J\DNKC[1%+;%0S,$"^7)N(P!C@\XR> M*;^R%X=O/%OQNGUH6`32K:.Z>^V+B)?/1T$(/OO/'HIKZC\2?"SX=Z_JC:CJ M_@_2[FZ8P;6<^K;<;C]:Z+P_H^E:%IB:=HVG6MA:1_=@MHA&@]\#O[T*+ MZ@ZBULM6?GQXACU;PIJGB/P.C'9+>K:W"=Y##*3'CZD@_C6]\6]%OOA?X[U# MP]8NT<6I:)##-G/SI(B&7_R)&U?9NJ_#?P'J?B%]=U#PII=QJ4DJRO=20`NS MKC#$^HP/RJ;Q?X!\&>*M02_\1>&M/U*YCB\I);B$,P3).W/IDG\Z7(5[5'S: M_AS^POV";F]ECVSZWJ$-ZY(YV&=%3_QU0?\`@5>>?!Q?`T)/&NMZ1>V M^HH\5E963RQ3*I0@LP/!)R#["ON'5O"_A[4_"Z>&[_1[2XTF-(T2R>/,2JF- M@`]L#'TKGT^#WPO1PZ^!M&#*001;C@BGRB516=SY?_:-BO+G]KFXM].N_LEY M-?V*6UQC/DR,D05_P)!_"D^",]G)^T]''\5&NKO5TO3#'/)AXAO\`PQIUQJHD247DD.9-Z8V'/J-HQ]*BU[X: M^`M:UR36=5\)Z9=:A,RO)#["6DM;-PC"1KB$`R[B?E*G+!<=X7]17&^(/BIXFT7XX7>A:JMI!HR"4: M;;V]K]HEU)D@,A4RK)^Z?=@;63H?QK<\,?\`)+?`W_88A_\`0I:\I\#_`/)^ MFK_]?,__`*+-#;)BEJ:?@WXZ>-KZ^L9+Q_#=]#X@TZ^N;6STW>UQI3P1NRB< M$\@E1Z9'I5OPI\8?''B5;:UTJ\T'[6_@Z35YV-NSI#0^!4BETR*3Q%837 M%ZZ:<9<,EP\8V*95P-JC)R<<>/O^1(^&G_ M`&#W_P#2Z2E=C23Z?UJ>U:/\8?&%S\=KOPB&TJ:TCUJ[LEMC:O'(EO$A;SA, M7VLPP!LQD]>]5OA-\@KD]7_Y*]_W42Z_]%I6E\-O^0Y\%/\`KEJ'_HR6FF[B<5;8]#\=?$?Q M)%\>X?`NDWF@Z19V=M#=W4^K;O,U`.Z@Q6^"!NP<#KR#Z8KD/"?QW\6WOB[2 M;N]7P^^D:UK,FFC1K=F.I6*J<>;)S^)XQ]*=^UQ_R77X=_\`7]!_Z4"N7\*? M\GA>)?\`KG>_^BY*&W<22ML7%_:+\=_V$'.F6'VK[9]M,WV9O*_LO=Y>[[WW MO,^7/Z5U3_&'QK%\7-8TZ.UM;W0M'U4PW21:;+N@LQ&7:X>X#;%*@?=(RW:O M.O\`FDC_`/9/D_\`3K7:Z9_R(GQI_P"`_P#H@T)L;4>Q7T'X_P#BB]\`>*KZ M:71/[5LK.WU'24A0NBPR3B-HY1N^^NY\Y.YCC.> B.,5VU<7^SI_R0SPO_P!@V.NTJUL8RW84444Q!1110!__V3\_ ` end