| Issuer: | Ohio Power Company | |
| Designation: | Senior Notes, Series O, due 2049 | |
| Principal Amount: | $450,000,000 | |
| Maturity: | June 1, 2049 | |
| Coupon: | 4.00% | |
| Interest Payment Dates: | June 1 and December 1 | |
| First Interest Payment Date: | December 1, 2019 | |
| Benchmark Treasury: | 3.00% due February 15, 2049 | |
| Benchmark Treasury Yield: | 2.834% | |
| Reoffer Spread: | T+118 basis points | |
| Yield to Maturity: | 4.014% | |
| Price to Public: | 99.756% of the principal amount thereof | |
| Transaction Date: | May 20, 2019 | |
| Settlement Date: | May 22, 2019 (T+2) | |
| Optional Redemption Terms: | ||
| Make-whole call: | Prior to December 1, 2048 at a discount rate of the Treasury Rate plus 20 basis points | |
| Par call: | On or after December 1, 2048 at par | |
| Minimum Denomination: | $2,000 and integral multiples of $1,000 in excess thereof | |
| CUSIP/ISIN: | 677415 CR0 / US677415CR01 | |
| Joint Book-Running Managers: | BNY Mellon Capital Markets, LLC Credit Agricole Securities (USA) Inc. Credit Suisse Securities (USA) LLC SunTrust Robinson Humphrey, Inc. | |
| Co-Manager: | Fifth Third Securities, Inc. | |
| Expected Ratings*: | A2 (Stable) by Moody’s Investors Service, Inc. A- (Stable) by S&P Global Ratings, a division of S&P Global Inc. | |
