Filed Pursuant to Rule 433 | |
Registration No. 333-152895 | |
March 3, 2009 | |
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PRICING TERM SHEET | |
(To Preliminary Prospectus Supplement dated March 3, 2009) | |
Issuer: | Mississippi Power Company |
Security: | Series 2009A 5.55% Senior Notes due March 1, 2019 |
Expected Ratings*: | A1/A/AA- (Moody’s/Standard & Poor’s/Fitch) |
Size: | $125,000,000 |
Public Offering Price: | 99.306% |
Maturity Date: | March 1, 2019 |
Treasury Benchmark: | 2.75% due February 15, 2019 |
US Treasury Yield: | 2.892% |
Spread to Treasury: | +275 basis points |
Re-offer Yield: | 5.642% |
Make-Whole Call: | T+45 basis points |
Coupon: | 5.55% |
Interest Payment Dates: | March 1 and September 1 of each year beginning September 1, 2009 |
Format: | SEC Registered |
Denominations: | $1,000 and any integral multiple thereof |
Trade Date: | March 3, 2009 |
Expected Settlement Date: | March 6, 2009 (T+3) |
Book-Running Manager: | J.P. Morgan Securities Inc. |
Co-Managers: | BB&T Capital Markets, a division of Scott & Stringfellow, LLC |
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