Free Writing Prospectus - Filing Under Securities Act Rules 163/433 (fwp)
November 18 2020 - 3:53PM
Edgar (US Regulatory)
Filed pursuant to Rule 433
Registration No. 333- 249918
November 18, 2020
PRICING TERM SHEET
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Issuer:
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American Electric Power Company, Inc.
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Transaction Date:
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November 18, 2020
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Settlement Date:
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November 20, 2020 (T+2)
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Designation:
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Senior Notes, Series M, due 2023
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Senior Notes, Series N, due 2025
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Floating Rate Notes, Series A, due 2023
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Principal Amount:
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$450,000,000
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$450,000,000
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$600,000,000
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Maturity:
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November 1, 2023
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November 1, 2025
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November 1, 2023
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Coupon:
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0.75%
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1.00%
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Three-Month LIBOR Rate (as defined in the preliminary prospectus supplement dated November 18, 2020) (the “Preliminary Prospectus Supplement”) plus 48 basis points (0.48%) reset quarterly, subject to the provisions set forth in “Specific Terms of the Notes–Principal Amount, Maturity, Interest and Payment” in the Preliminary Prospectus Supplement
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Interest Payment Dates:
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May 1 and November 1
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May 1 and November 1
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February 1, May 1, August 1 and November 1
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First Interest Payment Date:
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May 1, 2021
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May 1, 2021
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February 1, 2021
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Day Count Convention:
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30/360
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30/360
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Actual/360
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Benchmark Treasury:
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0.250% due November 15, 2023
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0.250% due October 31, 2025
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N/A
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Benchmark Treasury Yield:
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0.229%
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0.398%
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N/A
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Reoffer Spread:
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T+55 basis points
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T+65 basis points
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N/A
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Yield to Maturity:
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0.779%
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1.048%
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N/A
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Price to Public:
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99.916% of the principal amount thereof
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99.769% of the principal amount thereof
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100.000% of the principal amount thereof
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Redemption Terms:
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Make-whole call:
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N/A
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Prior to October 1, 2025, at a discount rate of the Treasury Rate plus 10 basis points
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N/A
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Par call:
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On or after November 20, 2021 at par
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On or after October 1, 2025 at par
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On or after November 20, 2021 at par
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CUSIP/ISIN:
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025537 AQ4/ US025537AQ41
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025537 AR2/ US025537AR24
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025537 AS0/ US025537AS07
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Minimum Denomination:
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$2,000 and integral multiples of $1,000 in excess thereof
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Joint Book-Running Managers:
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BofA Securities, Inc.
MUFG Securities Americas Inc.
Scotia Capital (USA) Inc.
TD Securities (USA) LLC
BNY Mellon Capital Markets, LLC
Goldman Sachs & Co. LLC
Truist Securities, Inc.
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Co-Manager:
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Fifth Third Securities, Inc.
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Ratings*:
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Baa2 (Stable) by Moody’s Investors Service, Inc.
BBB+ (Stable) by S&P Global Ratings, a division of S&P Global Inc.
BBB+ (Stable) by Fitch Ratings, Inc.
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*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 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 contacting BofA Securities, Inc. toll-free at (800) 294-1322, MUFG Securities Americas Inc. toll-free at (877) 649-6848, Scotia Capital (USA) Inc. toll-free at (800) 372-3930 or TD Securities (USA) LLC toll-free at (855) 495-9846.
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