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Southern Co., 6.25% Series 2015A Junior Subordinated Notes due 10/15/2075
Ticker Symbol: SOJA* CUSIP: 842587206 Exchange: NYSE
* NOTE: This security is no longer trading as of 10/20/2020
Security has been Called for: Tuesday, October 20, 2020
Sept. 18, 2020 -- Southern Company today announced the redemption, on October 20, 2020 (the "Redemption Date"), of all $1 billion aggregate principal amount of its Series 2015A 6.25% Junior Subordinated Notes due October 15, 2075 (the "Notes") (NYSE: SOJA). The redemption price will be 100% of the principal amount of the Notes ($25.00 per $25.00 in principal amount) plus accrued and unpaid interest to the Redemption Date.
The quarterly interest payment due on October 15, 2020 will be paid in the ordinary course to holders of record as of October 14, 2020.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Southern Co., 6.25% Series 2015A Junior Subordinated Notes due 10/2075, issued in $25 denominations, redeemable at the issuer's option on or after 10/15/2020 at $25 per note plus accrued and unpaid interest, and maturing 10/15/2075. Interest distributions of 6.25% per annum ($1.5625 per annum or $0.390625 per quarter) will be paid quarterly on 1/15, 4/15, 7/15 & 10/15 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 one business day prior to the record date). 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). 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. This security was rated as Baa2 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.
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Go to Parent Company's Record (SO)
IPO - 10/1/2015 - 35.00 Million Notes @ $25.00 /note.
Link to IPO Prospectus
Previous Ticker Symbol: TEMP06 Changed: 10/09/2015
Market Value $875.0 Million
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Company's Online Information Links
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| Company's Online SEC EDGAR Filings |
| Company's Email Address Links |
| Address and Phone Numbers |
| Address: 30 Ivan Allen Jr. Boulevard, N.W., Atlanta, GA 30308 |
| Main Phone Number |
404-506-5000 |
| Fax Number |
Not Available |
| Investor Relations
Scott Gammill
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404-506-0901
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| Toll Free Phone Number |
866-762-6411 |
| CEO - Thomas A. Fanning |
CFO - Andrew W. (Drew) Evans |
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