Business: Southern Company Series 2020A 4.95% Junior Subordinated Notes due January 30, 2080 issued in $25 denominations, redeemable at the issuer's option on or after 01/30/2025 at $25 per note plus accrued and unpaid interest, and maturing 01/30/2080.<p> Interest distributions of 4.95% per annum ($1.2375 per annum or $0.309375 per quarter) will be paid quarterly on 1/30, 4/30, 7/30 & 10/30 to holders of record on the record date that will be the business day immediately prior to the payment date if the Notes are in book-entry form or on the 15th calendar day prior to the payment date if the Notes are not in book-entry form (NOTE: the ex-dividend date is the record date). <p> The issuer may defer interest payments on the Junior Subordinated Notes on one or more occasions for up to 40 consecutive quarterly periods. Deferred interest payments will accrue additional interest (see prospectus for further information).This security is possibly subject to an early call before 01/30/2025 at 101% of their principal amount plus accrued and unpaid interest within 90 days of a tax event; before 01/30/2025 at 102% of their principal amount plus accrued and unpaid interest within 90 days of the occurrence of a rating agency event (see prospectus for further information). <p> Distributions paid by these debt securities are interest and as such are NOT eligible for the preferential 15% to 20% tax rate on dividends and are also NOT eligible for the dividend received deduction for corporate holders. Units are expected to trade flat, which means accrued interest will be reflected in the trading price and the purchasers will not pay and the sellers will not receive any accrued and unpaid interest.<p> This security was rated as Baa3 by Moody’s and BBB by S&P at the date of its IPO. The Notes are unsecured, junior subordinated obligations of the company and are unsecured, subordinated obligations of the company and will rank junior to the company's senior debt, junior to unsecured, subordinated indebtedness of the company and will rank equally with all existing and future unsecured, junior subordinated of the company. See the IPO prospectus for further information on the debt securities by clicking on the ‘Link to IPO Prospectus’ provided below.