Filed pursuant to Rule 433
Registration No. 333- 249918
October 31, 2022
PRICING TERM SHEET
Issuer: | American Electric Power Company, Inc. | ||||||||||
Transaction Date: | October 31, 2022 | ||||||||||
Settlement Date: | November 2, 2022 (T+2) | ||||||||||
Designation: | Senior Notes, Series O, due 2027 | Senior Notes, Series P, due 2032 | |||||||||
Principal Amount: | $500,000,000 | $500,000,000 | |||||||||
Maturity: | November 1, 2027 | November 1, 2032 | |||||||||
Coupon: | 5.75% | 5.95% | |||||||||
Interest Payment Dates: | May 1 and November 1 | May 1 and November 1 | |||||||||
First Interest Payment Date: | May 1, 2023 | May 1, 2023 | |||||||||
Day Count Convention: | 30/360 | 30/360 | |||||||||
Benchmark Treasury: | 4.125% due October 31, 2027 | 2.750% due August 15, 2032 | |||||||||
Benchmark Treasury Yield: | 4.262% | 4.092% | |||||||||
Reoffer Spread: | T+155 basis points | T+195 basis points | |||||||||
Yield to Maturity: | 5.812% | 6.042% | |||||||||
Price to Public: | 99.735% of the principal amount thereof | 99.317% of the principal amount thereof | |||||||||
Redemption Terms: | |||||||||||
Make-whole call: | Prior to October 1, 2027, at a discount rate of the Treasury Rate plus 25 basis points | Prior to August 1, 2032, at a discount rate of the Treasury Rate plus 30 basis points | |||||||||
Par call: | On or after October 1, 2027 at par | On or after August 1, 2032 at par | |||||||||
CUSIP/ISIN: | 025537AV3/ US025537AV36 | 025537AW1/ US025537AW19 | |||||||||
Minimum Denomination: | $2,000 and integral multiples of $1,000 in excess thereof | ||||||||||
Joint Book-Running Managers: | Goldman Sachs & Co. LLC Morgan Stanley & Co. LLC Scotia Capital (USA) Inc. SMBC Nikko Securities America, Inc. | ||||||||||
Co-Manager: | Credit Suisse Securities (USA) LLC PNC Capital Markets LLC TD Securities (USA) LLC U.S. Bancorp Investments, Inc. Academy Securities, Inc. Siebert Williams Shank & Co., LLC | ||||||||||
Ratings*: | Baa2 (Stable) by Moody’s Investors Service, Inc. BBB+ (Stable) by S&P Global Ratings, a division of S&P Global Inc. BBB (Stable) by Fitch Ratings, Inc | ||||||||||
*Note: A securities rating is not a recommendatiHHon 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 Goldman Sachs & Co. LLC toll-free at (866) 471-2526, Morgan Stanley & Co. LLC toll-free at (866) 718-1649, Scotia Capital (USA) Inc. toll-free at (800) 372-3930 or SMBC Nikko Securities America, Inc. toll-free at (888) 868-6856.