| Filed pursuant to Rule 433 |
| Registration No. 333-108045 |
| January 8, 2007 |
| Issuer: | Southwestern Electric Power Company |
| Designation: | 5.55% Senior Notes, Series E, due 2017 |
| Principal Amount: | $250,000,000 |
| Maturity: | January 15, 2017 |
| Coupon: | 5.55% |
| Interest Payment Dates: | January 15 and July 15 |
| First Interest Payment Date: | July 15, 2007 |
| Treasury Benchmark: | 4.625% due November 15, 2016 |
| Treasury Price: | $99-23+ |
| Treasury Yield: | 4.658% |
| Reoffer Spread: | 0.930% |
| Yield to Maturity: | 5.588% |
| Price to Public: | 99.711% of the principal amount thereof |
| Redemption Terms: | |
Make-whole call: | At any time at a discount rate of the Treasury Rate plus 20 basis points |
| Minimum Denomination: | $1,000 |
| Joint Book-Running Managers: | Goldman, Sachs & Co. Lehman Brothers Inc. Wachovia Capital Markets, LLC |
| Co-managers | Calyon Securities (USA) Inc. Fifth Third Securities, Inc. SG Americas Securities, LLC |
| Settlement Date: | January 11, 2007 |
| CUSIP: | 845437BH4 |
| Ratings: | Baa1 by Moody’s Investors Service, Inc. BBB by Standard & Poor’s Ratings Services A- by Fitch Ratings Ltd. |
