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Southern Co., 5.25% Series 2016A Junior Subordinated Notes due 10/1/2076
Ticker Symbol: SOJB* CUSIP: 842587305 Exchange: NYSE
* NOTE: This security is no longer trading as of 10/18/2021
Security has been Called for: Monday, October 18, 2021
Sept. 16, 2021 -- Southern Company today announced the redemption, on October 18, 2021 (the "Redemption Date"), of all $800 million aggregate principal amount of its Series 2016A 5.25% Junior Subordinated Notes due October 1, 2076 (the "Notes") (NYSE: SOJB). 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.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Southern Co., 5.25% Series 2016A Junior Subordinated Notes due 2076, issued in $25 denominations, redeemable at the issuer's option on or after 10/1/2021 at $25 per note plus accrued and unpaid interest, and maturing 10/1/2076. Interest distributions of 5.25% per annum ($1.3125 per annum or $0.328125 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 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). Before 10/1/2021, the Company may redeem, upon a redemption notice, in whole but not in part, the Junior Subordinated Notes following the occurrence of a Tax Event (see prospectus for further details). 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 Baa3 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 - 9/12/2016 - 32.00 Million Notes @ $25.00 /note.
Link to IPO Prospectus
Previous Ticker Symbol: TEMP07
Market Value $800.0 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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