Issuer: | American Electric Power Company, Inc. | |||||||||||||
Transaction Date: | November 10, 2021 | |||||||||||||
Settlement Date: | November 15, 2021 (T+2) | |||||||||||||
Designation: | 3.875% Fixed-to-Fixed Reset Rate Junior Subordinated Debentures due 2062 | |||||||||||||
Principal Amount: | $750,000,000 | |||||||||||||
Maturity: | February 15, 2062 | |||||||||||||
Interest Rate: | (i) from and including the date of original issuance to, but excluding, February 15, 2027 at an annual rate of 3.875% and (ii) from and including February 15, 2027 during each Interest Reset Period at an annual rate equal to the Five-Year Treasury Rate as of the most recent Reset Interest Determination Date, plus 2.675% | |||||||||||||
Optional Deferral: | Up to 10 consecutive years per deferral | |||||||||||||
Interest Payment Dates: | February 15 and August 15 | |||||||||||||
First Interest Payment Date: | February 15, 2022 | |||||||||||||
Day Count Convention: | 30/360 | |||||||||||||
Price to Public: | 100% of the principal amount thereof | |||||||||||||
Redemption Terms: | Redeemable, in whole or in part, during any period from and including the November 15 immediately preceding an Interest Reset Date through and including such Interest Reset Date, in each case at 100% of the principal amount, plus any accrued and unpaid interest | |||||||||||||
Call for Tax Event: | In whole, but not in part, at 100% of the principal amount, plus any accrued and unpaid interest | |||||||||||||
Call for Rating Agency Event: | In whole, but not in part, at 102% of the principal amount, plus any accrued and unpaid interest | |||||||||||||
CUSIP/ISIN: | 025537 AU5/ US025537AU52 | |||||||||||||
Minimum Denomination: | $2,000 and integral multiples of $1,000 in excess thereof | |||||||||||||
Joint Book-Running Managers: | BofA Securities, Inc. Credit Suisse Securities (USA) LLC Morgan Stanley & Co. LLC RBC Capital Markets, LLC TD Securities (USA) LLC Truist Securities, Inc. U.S. Bancorp Investments, Inc. Wells Fargo Securities, LLC | |||||||||||||
Co-Managers: | Blaylock Van, LLC Drexel Hamilton, LLC Samuel A. Ramirez & Company, Inc. | |||||||||||||
Ratings*: | Baa3 (Stable) by Moody’s Investors Service, Inc. BBB (Negative) by S&P Global Ratings, a division of S&P Global Inc. BB+ (Stable) by Fitch Ratings, Inc. |