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Issuer:
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American
Electric Power Company, Inc.
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Designation:
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8.75%
Junior Subordinated Debentures
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Legal
Format:
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SEC
Registered
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Principal
Amount:
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$275,000,000
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Over-allotment
Option:
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The
underwriters have an option to purchase up to an additional $41,250,000
aggregate principal amount of the Junior Subordinated Debentures at the
initial public offering price, exercisable for 30 days from the date
hereof.
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Denominations:
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$25
and integral multiples thereof
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Maturity:
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March
1, 2063, which will be automatically extended for an additional
one-calendar quarter period on March 1, 2013 and on each March 1, June 1,
September 1, and December 1 thereafter through and including December 1,
2017, unless earlier redeemed. The maturity date shall be no
later than March 1, 2068.
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Interest:
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The
Junior Subordinated Debentures will bear interest at a rate of 8.75% per
annum payable quarterly in arrears on March 1, June 1, September 1, and
December 1 of each year, commencing June 1, 2008.
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Public
Offering Price:
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$25
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Trade
Date:
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March
13, 2008
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Settlement
Date:
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March
20, 2008 (T+5)
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Make-Whole
Call:
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At
any time prior to March 1, 2013, in whole or in part on one or more
occasions, at an amount equal to the greater of i) 100% of the
principal amount of the debentures being redeemed or ii) the sum of
the remaining scheduled payments of principal and interest from the
redemption date to March 1, 2013 (excluding accrued interest) discounted
at a rate equal to the treasury yield plus 50 basis points, in each case
plus accrued interest to the redemption date, all as described in the
Preliminary Prospectus Supplement dated March 12, 2008.
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Tax
Event Call:
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At
any time prior to March 1, 2013, in whole but not in part, at 100% of the
principal amount of the debentures being redeemed plus any accrued and
unpaid interest to the redemption date.
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Ratings
Event Call:
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At
any time prior to March 1, 2013, in whole or in part on one or more
occasions, at an amount equal to the greater of i) 100% of the
principal amount of the debentures being redeemed or ii) the sum of
the remaining scheduled payments of principal and interest from the
redemption date to March 1, 2013 (excluding accrued interest) discounted
at a rate equal to the treasury yield plus 50 basis points, in each case
plus accrued interest to the redemption date, all as described in the
Preliminary Prospectus Supplement dated March 12, 2008.
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Par
Call:
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At
any time on and after March 1, 2013 at 100% of the principal amount plus
accrued and unpaid interest to the redemption date.
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Joint
Book-Running Managers:
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Citigroup
Global Markets Inc.
Merrill
Lynch, Pierce, Fenner & Smith
Incorporated
Morgan
Stanley & Co. Incorporated
UBS
Securities LLC
Wachovia
Capital Markets, LLC
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Co-Manager:
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Goldman,
Sachs & Co.
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CUSIP
/ ISIN Number:
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02557T
208/US02557T2087
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Expected
Security Ratings:
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Baa3
by Moody’s Investors Service, Inc.
BB+
by Standard & Poor’s Ratings Services
BBB-
by Fitch Ratings Ltd.
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