Issuer: | AEP Transmission Company, LLC | |
Expected Ratings*: | A2 (stable) by Moody’s Investors Service, Inc. A- (stable) by S&P Global Ratings, a division of S&P Global Inc. A (stable) by Fitch Ratings, Inc. | |
Designation: | Senior Notes, Series K, due 2049 | |
Principal Amount: | $350,000,000 | |
Maturity: | June 15, 2049 | |
Coupon: | 3.80% | |
Interest Payment Dates: | June 15 and December 15 | |
First Interest Payment Date: | December 15, 2019 | |
Treasury Benchmark: | 3.00% due February 15, 2049 | |
Treasury Yield: | 2.633% | |
Reoffer Spread: | T+ 120 basis points | |
Yield to Maturity: | 3.833% | |
Price to Public: | 99.414% of the principal amount thereof | |
Transaction Date: | June 10, 2019 | |
Settlement Date: | June 12, 2019 (T+2) | |
Redemption Terms: Make-whole call: | Prior to December 15, 2048 at a discount rate of the Treasury Rate plus 20 basis points | |
Par call: | On or after December 15, 2048 at par | |
Minimum Denomination: | $2,000 and integral multiples of $1,000 in excess thereof | |
CUSIP/ISIN: | 00115A AK5 / US00115AAK51 | |
Joint Book-Running Managers: | BofA Securities, Inc. PNC Capital Markets LLC RBC Capital Markets, LLC U.S. Bancorp Investments, Inc. |