QUANTUMONLINE.COM SECURITY DESCRIPTION:  American Electric Power Company, 6.125% Equity Units Due 3/2024 stated amount $50 per unit, initially consisting of Corporate Units which include a purchase contract issued by AEP and a 1/20 undivided beneficial ownership interest in $1,000 principal amount of AEP’s 3.40% junior subordinated debentures due 2024. The stock purchase contract requires the holder to purchase for $50 a variable number of shares of American Electric Power Company (NYSE: AEP) common stock no later than 3/15/2022 and pays a contract adjustment rate of 2.725% per annum. The stock purchase settlement rate will be 0.5021 shares per unit if the then current market price is equal to or greater than $99.5818 and 0.6026 shares per unit if the market price is equal to or less than $82.98. For market prices between those values the settlement rate will be $50 divided by the market value. Prior to the IPO of this security, the last reported sale price of the common stock on 03/12/2019 was $82.11 per share. The stock purchase contract may be settled any time at the holder’s option and the company will deliver 0.5021 shares of common stock for each purchase contract. The junior subordinated debentures is due 2024 and is subject to reset and remarketing on the third business day prior to 2/24/2022. The Corporate Units pay quarterly distributions of 6.125% ($3.0625) per annum on 3/15, 6/15, 9/15 & 12/15 to holders of record on the record date which is one business day prior to the payment date while the securities remain in book-entry form (NOTE: the ex-dividend date is one business day prior to the record date). The Company may defer all or part of the contract adjustment payments but not beyond the purchase contract settlement date. Any deferred contract adjustment payments will accrue additional contract adjustment payments at the rate equal to 6.125% per annum. Upon a Fundamental Change, the purchase contracts may be settled early at the settlement rate, plus an additional make-whole amount of shares determined (see IPO prospectus for further information). Distributions paid by these securities are derived from interest paid on the underlying debt securities and therefore 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. The junior subordinated debentures are pledged as collateral to secure the holder's obligations under the stock purchase contract. The holder has the right at any time to convert the Corporate Units to Treasury Units by the substitution of a specified zero-coupon U.S. Treasury security for the Notes and to later recreate Corporate Units. The notes are unsecured and rank junior with the company's other unsecured senior indebtedness. See the IPO prospectus for extensive additional information on the equity units and their mandatory conversion provisions by clicking on the ‘Link to IPO Prospectus’ provided below.

Stock Exchange	Cpn Rate Ann Amt	LiqPref CallPrice	Call Date Matur Date	Moodys/S&P Dated	Conversion Shares@Price	Distribution Dates	15% Tax Rate
NGS Chart	6.13% $3.06	$50.00 $50.00	3/15/2022 3/15/2022	NR BBB 9/05/2022	0.5021@$99.5818+ 0.6026@$82.98-	3/15, 6/15, 9/15 & 12/15 Click for MW ExDiv Date Click for Yahoo ExDiv Date	No

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HOME PAGE:     https://www.aep.com/
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Address and Phone Numbers

Address:   1 Riverside Plaza, Columbus, OH 43215
Main Phone Number	614-716-1000
Fax Number	Not Available
Investor Relations   Tom Scott	614-716-2686
Toll Free Phone Number	800-237-2667

CEO - Nicholas K. Akins

CFO - Julie Sloat