Issuer: | Alabama Power Company | |||||||
Security: | Series 2021B 3.00% Senior Notes due March 15, 2052 | |||||||
Expected Ratings:* | A1(Stable)/A-(Stable)/A+(Stable) (Moody’s/Standard & Poor’s/Fitch) | |||||||
Principal Amount: | $700,000,000 | |||||||
Initial Public Offering Price: | 99.824% | |||||||
Maturity Date: | March 15, 2052 | |||||||
Benchmark Treasury: | 2.00% due August 15, 2051 | |||||||
Benchmark Treasury Yield: | 2.009% | |||||||
Spread to Treasury: | +100 basis points | 0 | ||||||
Re-offer Yield: | 3.009% | |||||||
Optional Redemption: | ||||||||
Make-Whole Call: | Prior to September 15, 2051 at T+15 basis points | |||||||
Par Call: | On or after September 15, 2051 at 100% | |||||||
Coupon: | 3.00% | |||||||
Interest Payment Dates: | March 15 and September 15 of each year, beginning March 15, 2022 | |||||||
Format: | SEC Registered | |||||||
Denominations: | $2,000 and integral multiples of $1,000 in excess thereof | |||||||
CUSIP/ISIN: | 010392 FW3/US010392FW36 | |||||||
Trade Date: | November 15, 2021 | |||||||
Expected Settlement Date: | November 18, 2021 (T+3) | |||||||
Joint Book-Running Managers: | Citigroup Global Markets Inc. Mizuho Securities USA LLC PNC Capital Markets LLC Truist Securities, Inc. Wells Fargo Securities, LLC | |||||||
Co-Managers: | Regions Securities LLC BMO Capital Markets Corp. FHN Financial Securities Corp. Huntington Securities, Inc. Drexel Hamilton, LLC Loop Capital Markets LLC Samuel A. Ramirez & Company, Inc. Siebert Williams Shank & Co., LLC |