so2010afwp.htm
Filed Pursuant to Rule 433
Registration No. 333-159072
September 13, 2010
 
PRICING TERM SHEET
 
(To Preliminary Prospectus Supplement dated September 13, 2010)

Issuer:
The Southern Company
 
Security:
Series 2010A 2.375% Senior Notes due September 15, 2015
 
Expected Ratings:*
Moody’s:                         Baal (Stable Outlook)
Standard & Poor’s:        A- (Stable Outlook)
Fitch:                                A (Negative Outlook)
 
Size:
$400,000,000
 
Initial Public Offering Price:
99.981%
 
Maturity Date:
September 15, 2015
 
Treasury Benchmark:
1.25% due August 31, 2015
 
US Treasury Yield:
1.529%
 
Spread to Treasury:
+85 basis points
 
Re-offer Yield:
2.379%
 
Make-Whole Call:
T+15 basis points
 
Coupon:
2.375%
 
Interest Payment Dates:
March 15 and September 15 of each year beginning March 15, 2011
 
Format:
SEC Registered
 
Denominations:
$1,000 and any integral multiple thereof
 
CUSIP:
842587CG0
 
Trade Date:
September 13, 2010
 
Expected Settlement Date:
September 17, 2010 (T+4)
 
Joint Book-Running Managers:
Citigroup Global Markets Inc.
Deutsche Bank Securities Inc.
J.P. Morgan Securities LLC
 
Co-Managers:
Aladdin Capital LLC
BB&T Capital Markets, a division of Scott & Stringfellow, LLC
Loop Capital Markets LLC
 
* Note:  A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time.
 
The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates.  Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering.  You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov.  Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling The Southern Company collect at 1-404-506-0759, Citigroup Global Markets Inc. toll free at 1-877-858-5407, Deutsche Bank Securities Inc. toll free at 1-800-503-4611 or J.P. Morgan Securities LLC at 1-212-834-4533.