Filed pursuant to Rule 433
Registration No. 333-222068
March 3, 2020
PRICING TERM SHEET
Issuer: | American Electric Power Company, Inc. | |||
Designation: | Senior Notes, Series K, due 2030 | Senior Notes, Series L, due 2050 | ||
Principal Amount: | $400,000,000 | $400,000,000 | ||
Maturity: | March 1, 2030 | March 1, 2050 | ||
Coupon: | 2.30% | 3.25% | ||
Interest Payment Dates: | March 1 and September 1 | March 1 and September 1 | ||
First Interest Payment Date: | September 1, 2020 | September 1, 2020 | ||
Day Count Convention: | 30/360 | 30/360 | ||
Benchmark Treasury: | 1.500% due February 15, 2030 | 2.375% due November 15, 2049 | ||
Benchmark Treasury Yield: | 1.005% | 1.609% | ||
Reoffer Spread: | T+130 basis points | T+165 basis points | ||
Yield to Maturity: | 2.305% | 3.259% | ||
Price to Public: | 99.956% of the principal amount thereof | 99.829% of the principal amount thereof | ||
Transaction Date: | March 3, 2020 | March 3, 2020 | ||
Settlement Date: | March 5, 2020 (T+2) | March 5, 2020 (T+2) | ||
Redemption Terms: | ||||
Make-whole call: | Prior to December 1, 2029 at a discount rate of the Treasury Rate plus 20 basis points | Prior to September 1, 2049 at a discount rate of the Treasury Rate plus 25 basis points | ||
Par call: | On or after December 1, 2029 at par | On or after September 1, 2049 at par | ||
Minimum Denomination: | $2,000 and integral multiples of $1,000 in excess thereof | |||
CUSIP/ISIN: | 025537 AN1/US025537AN10 | 025537 AP6/US025537AP67 | ||
Joint Book-Running Managers: | BofA Securities, Inc. BNY Mellon Capital Markets, LLC J.P. Morgan Securities LLC Mizuho Securities USA LLC Scotia Capital (USA) Inc. SMBC Nikko Securities America, Inc. TD Securities (USA) LLC U.S. Bancorp Investments, Inc. | |||
Ratings*: | Baa1 (Negative) by Moody’s Investors Service, Inc. BBB+ (Stable) by S&P Global Ratings, Inc., a division of S&P Global Inc. |
* | 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, BNY Mellon Capital Markets, LLC toll-free at (800) 269-6864, J.P. Morgan Securities LLC collect at (212) 834-4533 or Mizuho Securities USA LLC toll-free at (866) 271-7403.