# EDGAR Filing Document

**Accession Number:** 0000003153
**File Stem:** 0000003153-25-000014
**Filing Date:** 2025-6
**Character Count:** 7686
**Document Hash:** 87a0eece5ccf83cd0fe6f9c1cafce3ef
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000003153-25-000014.hdr.sgml**: 20250611

**ACCESSION NUMBER**: 0000003153-25-000014

**CONFORMED SUBMISSION TYPE**: FWP

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20250611

**DATE AS OF CHANGE**: 20250611

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ALABAMA POWER CO
- **CENTRAL INDEX KEY:** 0000003153
- **STANDARD INDUSTRIAL CLASSIFICATION:** ELECTRIC SERVICES [4911]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 630004250
- **STATE OF INCORPORATION:** AL
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** FWP
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 333-269983
- **FILM NUMBER:** 251039657

**BUSINESS ADDRESS:**
- **STREET 1:** 600 N 18TH ST
- **STREET 2:** P O BOX 2641
- **CITY:** BIRMINGHAM
- **STATE:** AL
- **ZIP:** 35291
- **BUSINESS PHONE:** 2052571000

**MAIL ADDRESS:**
- **STREET 1:** 600 N 18TH ST
- **CITY:** BIRMINGHAM
- **STATE:** AL
- **ZIP:** 35291
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ALABAMA POWER CO
- **CENTRAL INDEX KEY:** 0000003153
- **STANDARD INDUSTRIAL CLASSIFICATION:** ELECTRIC SERVICES [4911]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 630004250
- **STATE OF INCORPORATION:** AL
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** FWP

**BUSINESS ADDRESS:**
- **STREET 1:** 600 N 18TH ST
- **STREET 2:** P O BOX 2641
- **CITY:** BIRMINGHAM
- **STATE:** AL
- **ZIP:** 35291
- **BUSINESS PHONE:** 2052571000

**MAIL ADDRESS:**
- **STREET 1:** 600 N 18TH ST
- **CITY:** BIRMINGHAM
- **STATE:** AL
- **ZIP:** 35291

Filed Pursuant to Rule 433

Registration No. 333-269983

June 11, 2025

**PRICING TERM SHEET**

**(To Preliminary Prospectus Supplement dated June 9, 2025)**

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| | | |
|:---|:---|:---|
| Issuer: | Alabama Power Company (the "Company") | Alabama Power Company (the "Company") |
| Security: | Series 2025B Floating Rate Senior Notes due August 15, 2075 (the "Series 2025B Senior Notes") | Series 2025B Floating Rate Senior Notes due August 15, 2075 (the "Series 2025B Senior Notes") |
| Expected Ratings:\* | A1(Stable)/A(Stable)/A+(Stable) (Moody's/Standard & Poor's/Fitch) | A1(Stable)/A(Stable)/A+(Stable) (Moody's/Standard & Poor's/Fitch) |
| Principal Amount: | $100000000 | $100000000 |
| Initial Public Offering Price: | 100% | 100% |
| Maturity Date: | August 15, 2075 | August 15, 2075 |
| Interest and Interest Payment Dates: | Floating rate based on Compounded SOFR (calculated as described in the Preliminary Prospectus Supplement), minus 0.35%, calculated quarterly, and payable on February 15, May 15, August 15 and November 15 of each year, beginning August 15, 2025 | Floating rate based on Compounded SOFR (calculated as described in the Preliminary Prospectus Supplement), minus 0.35%, calculated quarterly, and payable on February 15, May 15, August 15 and November 15 of each year, beginning August 15, 2025 |
| Optional Redemption: | On or after August 15, 2055, the Company may redeem the Series 2025B Senior Notes at its option, in whole or in part, at any time and from time to time, upon not less than 10 nor more than 60 days' notice, at the following redemption prices (in each case expressed as a percentage of the principal amount), if redeemed during the twelve-month periods beginning on August 15 as set forth below: | On or after August 15, 2055, the Company may redeem the Series 2025B Senior Notes at its option, in whole or in part, at any time and from time to time, upon not less than 10 nor more than 60 days' notice, at the following redemption prices (in each case expressed as a percentage of the principal amount), if redeemed during the twelve-month periods beginning on August 15 as set forth below: |
|  | **Twelve-Month Period Beginning on** | **Redemption Price** |
|  | August 15, 2055 | 105.00% |
|  | August 15, 2056 | 104.50% |
|  | August 15, 2057 | 104.00% |
|  | August 15, 2058 | 103.50% |
|  | August 15, 2059 | 103.00% |
|  | August 15, 2060 | 102.50% |
|  | August 15, 2061 | 102.00% |
|  | August 15, 2062 | 101.50% |
|  | August 15, 2063 | 101.00% |
|  | August 15, 2064 | 100.50% |
|  | August 15, 2065 | 100.00% |
|  | and thereafter at 100% of the principal amount, in each case, together with any accrued and unpaid interest thereon to but excluding the redemption date | and thereafter at 100% of the principal amount, in each case, together with any accrued and unpaid interest thereon to but excluding the redemption date |

---

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| | | |
|:---|:---|:---|
| Repayment at Option of Holder: | The Series 2025B Senior Notes will be repayable at the option of a holder of the Series 2025B Senior Notes, in whole or in part, on the repayment dates and at the repayment prices (in each case expressed as a percentage of the principal amount) as set forth below: | The Series 2025B Senior Notes will be repayable at the option of a holder of the Series 2025B Senior Notes, in whole or in part, on the repayment dates and at the repayment prices (in each case expressed as a percentage of the principal amount) as set forth below: |
|  | **Repayment Date** | **Repayment<br>Price** |
|  | August 15, 2026 | 98.00% |
|  | February 15, 2027 | 98.00% |
|  | August 15, 2027 | 98.00% |
|  | February 15, 2028 | 98.00% |
|  | August 15, 2028 | 98.00% |
|  | February 15, 2029 | 98.00% |
|  | August 15, 2029 | 98.00% |
|  | February 15, 2030 | 98.00% |
|  | August 15, 2030 | 98.00% |
|  | February 15, 2031 | 99.00% |
|  | August 15, 2031 | 99.00% |
|  | February 15, 2032 | 99.00% |
|  | August 15, 2032 | 99.00% |
|  | February 15, 2033 | 99.00% |
|  | August 15, 2033 | 99.00% |
|  | February 15, 2034 | 99.00% |
|  | August 15, 2034 | 99.00% |
|  | February 15, 2035 | 99.00% |
|  | August 15, 2035 | 99.00% |
|  | February 15, 2036 | 99.00% |
|  | August 15, 2036 | 100.00% |
|  | and on August 15 of every second year thereafter, through and including August 15, 2072, at 100% of the principal amount, in each case, together with any accrued and unpaid interest thereon to but excluding the repayment date | and on August 15 of every second year thereafter, through and including August 15, 2072, at 100% of the principal amount, in each case, together with any accrued and unpaid interest thereon to but excluding the repayment date |
| Format: | SEC Registered | SEC Registered |
| Denominations: | $1,000 and integral multiples of $1,000 | $1,000 and integral multiples of $1,000 |
| CUSIP/ISIN: | 010392 GD4/US010392GD46 | 010392 GD4/US010392GD46 |
| Trade Date: | June 11, 2025 | June 11, 2025 |
| Expected Settlement Date: | June 13, 2025 (T+2) | June 13, 2025 (T+2) |
| Book-Running Managers: | Morgan Stanley & Co. LLC<br>UBS Securities LLC | Morgan Stanley & Co. LLC<br>UBS Securities LLC |

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\*Note: A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time.

The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling Alabama Power Company collect at 1-205-257-2619, Morgan Stanley & Co. LLC toll free at 1-866-718-1649 or UBS Securities LLC toll free at 1-833-481-0269.

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