<table><tr><th>From:</th><th>jeffrey E. &lt;jeevacation@gmail.com&gt;</th></tr><tr><td>Sent:</td><td>Monday, September 12, 2016 3:46 PM</td></tr><tr><td>To:</td><td>Richard Kahn</td></tr><tr><td>Subject:</td><td>Re: New Issue $25 Par. The Southern Company (SO) Series 2016A Junior
Subordinated Notes; 5.25% - 5.375%; fixed-for life</td></tr></table>

no

On Mon, Sep 12, 2016 at 11:41 AM, Richard Kahn <  <mailto:  wrote:

i like the company name..

regardless i= is a large utility company with a 49 billion market cap..

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http://finance.yahoo.com/quote/SO/profile?p=SO <http://finance.yahoo.com/quote/SO/profile?p=SO>

Richard Kahn

HBRK Associates Inc.

New <u>York, NY 10022</u>
tel =/a>
fax <tel:
cell <tel

Begin forwarded message:

<=iv style="margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:=px">From: "Atla=, Andrew S" <  <mailto:  > >

=div style="margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left=0px">Subject: New=Issue $25 Par: The Southern Company (SO) Series 2016A Junior Subordinated =otes; 5.25% - 5.375%; fixed-for life

Date: September 12, 2016 at 10:3=:50 AM EDT

To: "Richard Kahn <mailto > )"
=gt;

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Good Morning Rich, I hope you had a nice weekend. Morgan Stanley is pricing a new issue $25 par preferred t=day.

Details:
$25 Par New Issue Syndicate Offering:=/p>
The Southern Company (SO)
=C2? ?=A0 =C2?
Issuer: ?=A0 =C2? The Southern Company (SO)
?=A0 =C2?
Securities Offered: ?=A0 =C2? Ser=es 2016A Junior Subordinated Notes
Size: ?=A0 =C2? $250mm (10mm $25 par securities)=u>
?=A0 =C2? ?=A0
Expected Ratings: ?=A0 =C2? ?=A0 Baa3 / BBB / BBB (St/Neg/St)
Maturity: =C2? ?=A0 October 1, 2076
=C2? ?=A0 =wbr>
Price Guidance: =C2? ?=A0 =C2? 5.25% – 5.375%<=p>
=C2? ?=A0 =u>
Offer Price: ?=A0 =C2? $25 per $25 par secu=ity
?=A0 =C2? ?=A0
Payment Dates: =C2? Ja=uary 1, April 1, July 1, and October 1 of each year, beginning January 1, =017.
?=A0 =C2? ?=A0
Optional Deferral: ?=A0 Interest is defer=able at the issuer’s option for up to 40 consecutive quarterly per=ods.

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Optional Redempt=on: Callable at the issuer’s option:

-on or after October 1, 2021 at 100%=/u>

-any time before October=1, 2021 at 100% upon a Tax Event.

-any time before October 1, 2021 at 102% upon a Rating Event

*See Prospectus Supplem=nt for details*

=A0 =C2 =A0

Use of Proceeds: =C24, The net procee=s from the sale of the Series 2016A Junior Subordinated Notes will be used=by the Company to repay short-term indebtedness that was incurred to fund =he maturity of the Company's $500,000,000 aggregate principal amount of Series 2011A =.95% Senior Notes due September 1, 2016 and for other general corporate pu=poses, including investment by the Company in its subsidiaries.<=u>

DRD/QDI Eligible: =C2 =A0 No</=pan>
Subject to US Tax Withholding for NRA=Clients: =C2 Generally No (please see prospectus)
Expected Listing: =C2 =A0 =C2 NYSE
Timing: =C2 =A0 Today’s Business

Let me know if y=u have any questions.

Best,</=>

Andrew

Andrew S. Atlas

First Vice President</=pan>

Equity Sales/Middle Markets Group

Financial Advisor

Morgan Stanley=Wealth Management

1290 Avenue of the Americas, 12th Floor | New York, NY 10104

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The image shows contact information. The fax number is +1 212 705 4592. The other contact details (phone and email) are redacted.

=span style="font-size:9.0pt;color:#595959">NMLS ID # 1326736

NOTICE:=20 Morgan Stanley is not acting as a municipal advisor and the opinions or vie=s contained herein are not intended to be, and do not constitute, advice with=n the meaning of Section 975 of the Dodd-Frank Wall Street Reform and Consume= Protection Act. If you have received this communication in error, please de=troy all electronic and paper copies and notify the sender immediately. Mistransmission is not intended to waive confidentiality or privilege. Morg=n Stanley reserves the right, to the extent permitted under applicable law, t= monitor electronic communications. This message is subject to terms availab=e at the following link: http://www.morganstanley.com/disclaimers <http://www.morganstanley.com/disclaimers> If =ou cannot access these links, please notify us by reply message and we will send the=20 contents to you. By communicating with Morgan Stanley you consent to the foregoing and to the voice recording of conversations with personnel of Mor=an Stanley.

</=iv>

=C2

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return e-mail o= by e-mail to j=evacation@gmail.com <mailto:jeevacation@gmail.com> , and destroy this communication and all copies =hereof,

4

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<hiv>