| Issuer: | AEP Texas Inc. | |
| Expected Ratings*: | Baa1 (stable) by Moody’s Investors Service, Inc. A- (stable) by S&P Global Ratings | |
| Designation: | Senior Notes, Series G, due 2049 | |
| Principal Amount: | $300,000,000 | |
| Maturity: | May 1, 2049 | |
| Coupon: | 4.15% | |
| Interest Payment Dates: | May 1 and November 1 | |
| First Interest Payment Date: | November 1, 2019 | |
| Treasury Benchmark: | 3.375% due November 15, 2048 | |
| Treasury Yield: | 2.958% | |
| Reoffer Spread: | T+120 basis points | |
| Yield to Maturity: | 4.158% | |
| Price to Public: | 99.864% of the principal amount thereof | |
| Transaction Date: | April 29, 2019 | |
| Settlement Date: | May 1, 2019 (T+2) | |
| Redemption Terms: | ||
| Make-whole call: | Prior to November 1, 2048 at a discount rate of the Treasury Rate plus 20 basis points | |
| Par call: | On or after November 1, 2048 at par | |
| Minimum Denomination: | $2,000 and integral multiples of $1,000 in excess thereof | |
| CUSIP/ISIN: | 00108W AJ9/US00108WAJ99 | |
| Joint Book-Running Managers: | Citigroup Global Markets Inc. Scotia Capital (USA) Inc. TD Securities (USA) LLC | |
| Co-Manager: | The Huntington Investment Company | |
