| Issuer: | Indiana Michigan Power Company | ||||
| Expected Ratings*: | A3 (Stable) by Moody’s Investors Service, Inc. A- (Stable) by S&P Global Ratings, a division of S&P Global Inc. A- (Stable) by Fitch Ratings, Inc. | ||||
| Designation: | Senior Notes, Series O, due 2051 | ||||
| Principal Amount: | $450,000,000 | ||||
| Maturity: | May 1, 2051 | ||||
| Coupon: | 3.25% | ||||
| Interest Payment Dates: | May 1 and November 1 | ||||
| First Interest Payment Date: | November 1, 2021 | ||||
| Treasury Benchmark: | 1.625% due November 15, 2050 | ||||
| Treasury Yield: | 2.291% | ||||
| Reoffer Spread: | T+ 100 basis points | ||||
| Yield to Maturity: | 3.291% | ||||
| Price to Public: | 99.222% of the principal amount thereof | ||||
| Transaction Date: | April 27, 2021 | ||||
| Settlement Date: | April 29, 2021 (T+2) | ||||
| Redemption Terms: | |||||
| Make-whole call: | Prior to November 1, 2050 at a discount rate of the Treasury Rate plus 15 basis points | ||||
| Par call: | On or after November 1, 2050 at par | ||||
| Minimum Denomination: | $2,000 and integral multiples of $1,000 in excess thereof | ||||
| CUSIP/ISIN: | 454889 AU0 / US454889AU09 | ||||
| Joint Book-Running Managers: | Citigroup Global Markets Inc. Mizuho Securities USA LLC RBC Capital Markets, LLC Truist Securities, Inc. | ||||
| Co-Managers: | Fifth Third Securities, Inc. Huntington Securities, Inc. | ||||
