Company: SOJE
Filing Date: 2025-02-25
Form Type: 424B5
Source: 0000092122-25-000022
Chunk: 5

Company: SOUTHERN CO
Filing Date: 2025-02-25
Form: 424B5
Chunk 5
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 Subordinated Notes. This may include, for example, changes to the relationship between ratings assigned to an issuer’s senior securities and ratings assigned to securities with features similar to the Series 2025B Junior Subordinated Notes. If the rating agencies change their practices for rating these types of securities in the future, and the ratings of the Series 2025B Junior Subordinated Notes are subsequently lowered, that could have a negative impact on the trading price of the Series 2025B Junior Subordinated Notes. In addition, the Company may redeem the Series 2025B Junior Subordinated Notes at its option, in whole, but not in part, if a rating agency makes certain changes in the equity credit methodology for securities such as the Series 2025B Junior Subordinated Notes. See “Description of the Series 2025B Junior Subordinated Notes—Right to Redeem Upon a Rating Agency Event” in this Prospectus Supplement.

While it is not possible for the interest rate on the Series 2025B Junior Subordinated Notes to decrease below the initial interest rate, the interest rate on the Series 2025B Junior Subordinated Notes may fluctuate over time.

The interest rate on the Series 2025B Junior Subordinated Notes from their original issue date to, but excluding, March 15, 2035 will be % per annum. Beginning on March 15, 2035, the interest rate on the Series 2025B Junior Subordinated Notes for each Interest Reset Period will equal the Five-Year Treasury Rate as of the most recent Reset Interest Determination Date plus a spread of %, to be reset on each Interest Reset Date; provided, that the interest rate during any Interest Reset Period will not reset below %. Accordingly, while it is not possible for the interest rate on the Series 2025B Junior Subordinated Notes to decrease below the initial interest rate, the interest rate for a given Interest Reset Period subsequent to the initial Interest Reset Period may decrease as compared to the interest rate for the prior Interest Reset Period. The Company has no control over the factors that may affect U.S. Treasury rates, including geopolitical, economic, financial, political, regulatory, judicial or other conditions or events.

Historical United States Treasury rates are not an indication of future United States Treasury rates.

As noted above, the annual interest rate on the Series 2025B Junior Subordinated Notes for each Interest Reset Period will be set by reference to the Five-Year Treasury Rate as of the most recent Reset Interest Determination Date (provided, that