Alabama Power Company

06/11/2025 | Press release | Distributed by Public on 06/11/2025 12:35

Free Writing Prospectus (Form FWP)


Filed Pursuant to Rule 433
Registration No. 333-269983
June 11, 2025
PRICING TERM SHEET
(To Preliminary Prospectus Supplement dated June 9, 2025)
Issuer: Alabama Power Company (the "Company")
Security:
Series 2025B Floating Rate Senior Notes due August 15, 2075 (the "Series 2025B Senior Notes")
Expected Ratings:*
A1(Stable)/A(Stable)/A+(Stable) (Moody's/Standard & Poor's/Fitch)
Principal Amount:
$100,000,000
Initial Public Offering Price:
100%
Maturity Date:
August 15, 2075
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, 2025
Optional Redemption:
On or after August 15, 2055, the Company may redeem the Series 2025B 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 August 15 as set forth below:
Twelve-Month Period Beginning on Redemption Price
August 15, 2055
105.00%
August 15, 2056
104.50%
August 15, 2057
104.00%
August 15, 2058
103.50%
August 15, 2059
103.00%
August 15, 2060
102.50%
August 15, 2061
102.00%
August 15, 2062
101.50%
August 15, 2063
101.00%
August 15, 2064
100.50%
August 15, 2065
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 2025B Senior Notes will be repayable at the option of a holder of the Series 2025B 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
August 15, 2026 98.00%
February 15, 2027 98.00%
August 15, 2027 98.00%
February 15, 2028 98.00%
August 15, 2028 98.00%
February 15, 2029 98.00%
August 15, 2029 98.00%
February 15, 2030 98.00%
August 15, 2030 98.00%
February 15, 2031 99.00%
August 15, 2031 99.00%
February 15, 2032 99.00%
August 15, 2032 99.00%
February 15, 2033 99.00%
August 15, 2033 99.00%
February 15, 2034 99.00%
August 15, 2034 99.00%
February 15, 2035 99.00%
August 15, 2035 99.00%
February 15, 2036 99.00%
August 15, 2036 100.00%
and on August 15 of every second year thereafter, through and including August 15, 2072, 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 GD4/US010392GD46
Trade Date:
June 11, 2025
Expected Settlement Date:
June 13, 2025 (T+2)
Book-Running Managers:
Morgan Stanley & Co. LLC
UBS Securities LLC

*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 1-205-257-2619, Morgan Stanley & Co. LLC toll free at 1-866-718-1649 or UBS Securities LLC toll free at 1-833-481-0269.

Alabama Power Company published this content on June 11, 2025, and is solely responsible for the information contained herein. Distributed via SEC EDGAR on June 11, 2025 at 18:35 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at support@pubt.io