0000006879-20-000014.txt : 20200512 0000006879-20-000014.hdr.sgml : 20200512 20200512154544 ACCESSION NUMBER: 0000006879-20-000014 CONFORMED SUBMISSION TYPE: FWP PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20200512 DATE AS OF CHANGE: 20200512 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: APPALACHIAN POWER CO CENTRAL INDEX KEY: 0000006879 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 540124790 STATE OF INCORPORATION: VA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: FWP SEC ACT: 1934 Act SEC FILE NUMBER: 333-236613 FILM NUMBER: 20868911 BUSINESS ADDRESS: STREET 1: 1 RIVERSIDE PLAZA CITY: COLUMBUS STATE: OH ZIP: 43215 BUSINESS PHONE: 614-716-1000 MAIL ADDRESS: STREET 1: 1 RIVERSIDE PLAZA CITY: COLUMBUS STATE: OH ZIP: 43215 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: APPALACHIAN POWER CO CENTRAL INDEX KEY: 0000006879 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 540124790 STATE OF INCORPORATION: VA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: FWP BUSINESS ADDRESS: STREET 1: 1 RIVERSIDE PLAZA CITY: COLUMBUS STATE: OH ZIP: 43215 BUSINESS PHONE: 614-716-1000 MAIL ADDRESS: STREET 1: 1 RIVERSIDE PLAZA CITY: COLUMBUS STATE: OH ZIP: 43215 FWP 1 a05-2020apcofwp.htm FREE WRITING PROSPECTUS Document


Filed pursuant to Rule 433
Registration No. 333-236613
May 12, 2020
PRICING TERM SHEET

Issuer:
Appalachian Power Company
Expected Ratings*:
Baa1 (stable) by Moody’s Investors Service, Inc.
A- (stable) by S&P Global Ratings
Designation:
Senior Notes, Series Z, due 2050
Principal Amount:
$500,000,000
Maturity:
May 1, 2050
Coupon:
3.70%
Interest Payment Dates:
May 1 and November 1
First Interest Payment Date:
November 1, 2020
Treasury Benchmark:
2.375% due November 15, 2049
Treasury Yield:
1.383%
Reoffer Spread:
T+235 basis points
Yield to Maturity:
3.733%
Price to Public:
99.409% of the principal amount thereof
Transaction Date:
May 12, 2020
Settlement Date:
May 14, 2020 (T+2)
Redemption Terms:
 
Make-whole call:
Prior to November 1, 2049 at a discount rate of the Treasury Rate plus 40 basis points
Par call:
On or after November 1, 2049 at par
Minimum Denomination:
$2,000 and integral multiples of $1,000 in excess thereof
CUSIP/ISIN:
037735 CY1/US037735CY10
Joint Book-Running Managers:
Citigroup Global Markets Inc.
Credit Suisse Securities (USA) LLC
PNC Capital Markets LLC
Wells Fargo Securities, LLC
Co-Managers:
Huntington Securities, Inc.
Academy Securities, Inc.
Drexel Hamilton, LLC
Loop Capital Markets LLC
Siebert Williams Shank & Co., 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 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 Citigroup Global Markets Inc. toll-free at (800) 831-9146, Credit Suisse Securities (USA) LLC toll-free at (800) 221-1037, PNC Capital Markets LLC toll-free at (855) 881-0697 or Wells Fargo Securities, LLC toll-free at (800) 645-3751.