Company: SOJE
Filing Date: 2025-11-04
Form Type: 424B2
Source: 0000092122-25-000092
Chunk: 3

Company: SOUTHERN CO
Filing Date: 2025-11-04
Form: 424B2
Chunk 3
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 creditors of the Company (including holders of the RSNs) to participate in any distribution of the assets of any subsidiary of the Company, whether upon liquidation, reorganization or otherwise, is structurally subordinated to claims of creditors and any preferred stockholders of each subsidiary. The RSNs will be effectively subordinated to all secured indebtedness of the Company.

• The RSNs will be remarketed in 2028 as described in this Prospectus Supplement. In connection with the remarketing, the Company may elect to remarket each series of RSNs as fixed-rate notes or floating-rate notes and to modify certain other terms of the RSNs. Following any successful remarketing of the RSNs, the interest rate on each series of RSNs will be reset, interest will be payable on a semi-annual basis (except with respect to any series of RSNs remarketed as floating-rate notes) and the Company will cease to have the ability to redeem the Series 2025C RSNs at the Company’s option, all as described under “Description of the Purchase Contracts—Remarketing.” The Series 2025B RSNs shall not be subject to optional redemption at any time.

• Your ownership interest in each series of RSNs (or after a successful optional remarketing, your related ownership interest in the Treasury portfolio or, in certain circumstances, cash) or the Treasury securities discussed below, as the case may be, will be pledged to the Company to secure your obligation under the related purchase contract.

• Other than during a blackout period (as defined under “Description of the Equity Units—Creating Treasury Units by Substituting a Treasury Security for the RSNs”) or after a successful remarketing of the RSNs, you can create 2025 Series A Treasury Units (“Treasury Units”) from Corporate Units by substituting Treasury securities for your pledged ownership interest in the RSNs comprising a part of the Corporate Units. You can also recreate Corporate Units from Treasury Units by substituting a 1/40 undivided beneficial ownership interest in each series of RSNs for the Treasury securities previously pledged and comprising a part of your Treasury Units.

• If there is a successful optional remarketing of the RSNs and, at such time, you hold Corporate Units, your applicable ownership interest in the Treasury portfolio purchased with the proceeds from the remarketing (or, in certain circumstances, cash) will be used to satisfy your payment obligation under the purchase contract. If there is a