QUANTUMONLINE.COM SECURITY DESCRIPTION: Georgia Power Co., 5.00% Series 2017A Junior Subordinated Notes due 10/1/2077, issued in $25 denominations, redeemable at the issuer's option on or after 10/1/2022 at $25 per note plus accrued and unpaid interest, and maturing 10/1/2077. Interest distributions of 5.00% per annum ($1.25 per annum or $0.3125 per quarter) will be paid quarterly on 1/1, 4/1, 7/1 & 10/1 to holders of record on the record date that will be the business day prior to the payment date if the notes are in book entry form (NOTE: the ex-dividend date is one business day prior to the record date).
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.
This security is possibly subject to an early call as a result of the occurrence of certain tax or rating agency events (see the prospectus for further information).
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.
This security was rated as Baa1 by Moody’s and BBB by S&P at the date of its IPO. The Notes are unsecured and subordinated obligations of the company and will rank equally with all existing and future unsecured and subordinated indebtedness of the company. See the IPO prospectus for further information on the debt securities by clicking on the ‘Link to IPO Prospectus’ provided below.
