American Electric Power : 6.95% Fixed to Fixed Reset Rate Junior Subordinated Debentures, due 2054

Prospectus Supplement

(To Prospectus dated November 6, 2023)

$1,000,000,000

American Electric Power Company, Inc.

$400,000,000 7.050% Fixed-to-Fixed Reset Rate Junior Subordinated Debentures, Series A $600,000,000 6.950% Fixed-to-Fixed Reset Rate Junior Subordinated Debentures, Series B

This is an offering of $400,000,000 of 7.050% Fixed-to-Fixed Reset Rate Junior Subordinated Debentures, Series A ("Series A Debentures") and $600,000,000 of 6.950% Fixed-to-Fixed Reset Rate Junior Subordinated Debentures, Series B ("Series B Debentures", collectively, the "Debentures") to be issued by American Electric Power Company, Inc., a New York corporation. The Series A Debentures will bear interest (i) from and including the date of original issuance to, but excluding, December 15, 2029 at an annual rate of 7.050% and (ii) from and including December 15, 2029 during each Series A Interest Reset Period (as defined herein) at an annual rate equal to the Five-Year Treasury Rate (as defined herein) as of the most recent Series A Reset Interest Determination Date (as defined herein), plus 2.750%. The Series B Debentures will bear interest (i) from and including the date of original issuance to, but excluding, December 15, 2034 at an annual rate of 6.950% and (ii) from and including December 15, 2034 during each Series B Interest Reset Period (as defined herein) at an annual rate equal to the Five-Year Treasury Rate (as defined herein) as of the most recent Series B Reset Interest Determination Date (as defined herein), plus 2.675%. Interest on the Debentures will be payable semi-annually in arrears on June 15 and December 15 of each year beginning on December 15, 2024. The Debentures will be issued in registered form and in denominations of $2,000 and integral multiples of $1,000 in excess thereof. The Series A Debentures will mature on December 15, 2054. The Series B Debentures will mature on December 15, 2054.

So long as no event of default has occurred and is continuing, we may defer interest payments on either or both series of the Debentures on one or more occasions for up to 10 consecutive years as described in this prospectus supplement. Deferred interest payments with respect to a given series will accrue additional interest at a rate equal to the interest rate on the debentures, compounded on each interest payment date, to the extent permitted by law. We may redeem the Debentures at our option at the times and the prices described in this prospectus supplement. The Debentures are a new issue of securities with no established trading market. We do not intend to apply for listing of the Debentures on any securities exchange and cannot assure the holders that an active after-market for the Debentures will develop or be sustained or that holders of the Debentures will be able to sell them at favorable prices or at all.

Investing in the Debentures involves risks. See "Risk Factors" on page S-11 of this prospectus supplement.

Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or determined if this prospectus supplement or the related prospectus is truthful or complete. Any representation to the contrary is a criminal offense.

	Per Series A					Per Series B
	Debenture			Total		Debenture		Total
Public offering price (1)…………………………..	100.000%	$	400,000,000	100.000%	$	600,000,000
Underwriting discount……………………………	1.000%	$	4,000,000	1.000%	$	6,000,000
Proceeds, before expenses, to American Electric	99.000%	$	396,000,000	99.000%	$	594,000,000
Power Company, Inc. …………………………...

1. Plus accrued interest, if any, from June 20, 2024.

_____________________

We expect that the Debentures will be ready for delivery through The Depository Trust Company for the accounts of its participants, including Clearstream Banking S.A. and Euroclear Bank SA/NV, on or about June 20, 2024.

_____________________

Joint Book-Running Managers

Barclays	Citigroup	J.P. Morgan	MUFG	Scotiabank
CIBC Capital	Credit Agricole CIB	Goldman Sachs & Co.	Morgan Stanley	US Bancorp
Markets		LLC
		June 17, 2024

TABLE OF CONTENTS
Prospectus Supplement
	Page
About this Prospectus Supplement	S-3
Summary Information	S-4
Risk Factors	S-11
Where You Can Find More Information	S-15
Use of Proceeds	S-15
Specific Terms of the Fixed-To-Fixed Reset Rate Junior Subordinated Debentures	S-16
Certain U.S. Federal Income Tax Considerations	S-27
Certain ERISA Considerations	S-33
Underwriting (Conflicts of Interest)	S-36
Legal Matters	S-43
Experts	S-43
Prospectus
Risk Factors	2
The Company	2
Prospectus Supplements	2
Where You Can Find More Information	3
Use of Proceeds	4
Description of the Senior Notes	4
Description of Common Stock	9
Description of Preferred Stock	10
Description of the Junior Subordinated Debentures	12
Description of the Stock Purchase Contracts and the Stock Purchase Units	18
Book-Entry System	19
Plan of Distribution	22
Legal Opinions	23
Experts	23

S-2

ABOUT THIS PROSPECTUS SUPPLEMENT

This document is in two parts. The first part is this prospectus supplement, which describes the specific terms of this offering of the Debentures and also adds to and updates information contained in the accompanying prospectus and the documents incorporated by reference in this prospectus supplement and the accompanying prospectus. The second part is the accompanying prospectus, which gives more general information, some of which does not apply to the Debentures. If the description of the Debentures varies between this prospectus supplement and the accompanying prospectus, you should rely on the information in this prospectus supplement.

You should rely only on the information contained or incorporated by reference in this prospectus supplement and in the accompanying prospectus and in any written communication from the Company or the underwriters specifying the final terms of the offering. We have not authorized any other person to provide you with different information. If anyone provides you with different or inconsistent information, you should not rely on it. You should assume that the information appearing in this prospectus supplement and the accompanying prospectus is accurate as of the date on their respective covers. Our business, financial condition, results of operations and prospects may have changed since those dates.

S-3

SUMMARY INFORMATION

The following information supplements, and should be read together with, the information contained in the accompanying prospectus. You should carefully read this prospectus supplement and the accompanying prospectus as well as the documents they incorporate by reference, before making an investment decision. Unless we state otherwise or the context otherwise requires, references appearing in this prospectus supplement to the "Company", "we", "us" and "our" should be read to refer to American Electric Power Company, Inc. and its subsidiaries.

American Electric Power Company, Inc.

We are one of the largest investor-owned electric public utility holding companies in the United States. Our electric utility operating companies provide generation, transmission and distribution services to more than five million retail customers in Arkansas, Indiana, Kentucky, Louisiana, Michigan, Ohio, Oklahoma, Tennessee, Texas, Virginia and West Virginia.

Our portfolio of assets include:

• Approximately 225,000 circuit miles of distribution lines that deliver electricity to 5.6 million customers;
• Approximately 40,000 circuit miles of transmission lines, including approximately 2,100 circuit miles of 765 kV lines, the backbone of the electric interconnection grid in the eastern United States; and
• Approximately 23,000 MWs of regulated owned generating capacity as of December 31, 2023, one of the largest complements of generation in the United States.

Our principal executive offices are located at 1 Riverside Plaza, Columbus, Ohio, and our telephone number is [phone].

S-4

The Offering

The following summary contains basic information about this offering. For a more complete understanding of this offering, we encourage you to read this entire prospectus supplement, including "Specific Terms of the Fixed- To-Fixed Reset Rate Junior Subordinated Debentures," and the accompanying prospectus, including "Description of the Junior Subordinated Debentures."

Issuer	American Electric Power Company, Inc.
Securities Offered	$400,000,000 principal amount of 7.050% Fixed-to-Fixed Reset
	Rate Junior Subordinated Debentures, Series A; and
	$600,000,000 principal amount of 6.950% Fixed-to-Fixed Reset
	Rate Junior Subordinated Debentures, Series B.
Denominations	$2,000 and integral multiples of $1,000 in excess thereof.
Maturity	The Series A Debentures will mature on December 15, 2054;
	and the Series B Debentures will mature on December 15, 2054.
Interest	The Series A Debentures will bear interest (i) from and
	including the date of the original issuance to, but excluding,
	December 15, 2029 at an annual rate of 7.050% and (ii) from
	and including December 15, 2029 during each Series A Interest
	Reset Period at an annual rate equal to the Five-Year Treasury
	Rate as of the most recent Reset Interest Determination Date,
	plus 2.750%. The Series B Debentures will bear interest (i)
	from and including the date of the original issuance to, but
	excluding, December 15, 2034 at an annual rate of 6.950% and
	(ii) from and including December 15, 2034 during each Series B
	Interest Reset Period at an annual rate equal to the Five-Year
	Treasury Rate as of the most recent Reset Interest Determination
	Date, plus 2.675%.
Ranking	The Debentures will be our unsecured junior subordinated
	obligations and will rank junior in right of payment to all of our
	Senior Indebtedness (as defined in this prospectus supplement
	under "Specific Terms of the Fixed-To-Fixed
	Reset Rate Junior Subordinated Debentures-Ranking of the
	Debentures"). As of March 31, 2024, we had approximately
	$8.62 billion of Senior Indebtedness outstanding.
	In addition, the Debentures are effectively subordinated to all
	existing and future indebtedness and other liabilities, including
	trade payables debt and preferred stock, if any, incurred or
	issued by our subsidiaries. As of March 31, 2024, the total long-
	term indebtedness of our subsidiaries was approximately $33.37
	billion (including securities due within one year); this amount
	does not include other liabilities.
	S-5

Optional Redemption	The Company may redeem the Series A Debentures at its option
	before their maturity: (i) in whole or in part on one or more
	occasions at a price equal to 100% of the principal amount of
	the Series A Debentures being redeemed, plus accrued and
	unpaid interest, on any day in the period commencing on the
	date falling 90 days prior to the first Series A Reset Date and
	ending on and including the first Series A Reset Date and, after
	the first Series A Reset Date, on any interest payment date for
	the Series A Debentures; (ii) in whole, but not in part, at 100%
	of their principal amount, plus any accrued and unpaid interest
	thereon, if certain changes in tax laws, regulations or
	interpretations occur; or (iii) in whole, but not in part, at 102%
	of their principal amount, plus any accrued and unpaid interest
	thereon, if a rating agency makes certain changes in the equity
	credit criteria for securities such as the Series A Debentures.
	The Company may redeem the Series B Debentures at its option
	before their maturity: (i) in whole or in part on one or more
	occasions at a price equal to 100% of the principal amount of
	the Series B Debentures being redeemed, plus accrued and
	unpaid interest, on any day in the period commencing on the
	date falling 90 days prior to the first Series B Reset Date and
	ending on and including the first Series B Reset Date and, after
	the first Series B Reset Date, on any interest payment date for
	the Series B Debentures; (ii) in whole, but not in part, at 100%
	of their principal amount, plus any accrued and unpaid interest
	thereon, if certain changes in tax laws, regulations or
	interpretations occur; or (iii) in whole, but not in part, at 102%
	of their principal amount, plus any accrued and unpaid interest
	thereon, if a rating agency makes certain changes in the equity
	credit criteria for securities such as the Series B Debentures.
	For a more complete description of the circumstances under and
	the redemption prices at which the Debentures may be
	redeemed, see "Specific Terms of the Fixed-To-Fixed Reset
	Rate Junior Subordinated Debentures-Optional Redemption,"
	"Specific Terms of the Fixed-To-Fixed Reset Rate Junior
	Subordinated Debentures-Right to Redeem Upon a Tax Event"
	and "Specific Terms of the Fixed-To-Fixed Reset Rate Junior
	Subordinated Debentures-Right to Redeem Upon a Rating
	Agency Event," in this prospectus supplement.

S-6

Option to Defer Interest Payments	So long as no event of default has occurred and is continuing
	with respect to the applicable series of Debentures, we have the
	option to defer interest payments on the applicable Debentures,
	from time to time, for one or more periods (each, an "Optional
	Deferral Period") of up to 10 consecutive years (each period,
	commencing on the date that the first such interest payment
	would otherwise have been made on the applicable series, a
	Series A Optional Deferral Period or a Series B Optional
	Deferral Period). In other words, we may declare at our
	discretion up to a 10-year interest payment moratorium on the
	applicable Debentures and may choose to do that on more than
	one occasion. We may not defer payments beyond the
	redemption date or the maturity date of the Debentures, and we
	may not begin a new Optional Deferral Period for the applicable
	Debentures until we have paid all accrued interest on the
	applicable Debentures from any previous Optional Deferral
	Periods. Any deferred interest will accrue additional interest at a
	rate equal to the interest rate on the then applicable series of
	Debentures to the extent permitted by law. Once all accrued and
	unpaid interest on the applicable Debentures has been paid, we
	can begin a new Optional Deferral Period. We, however, have
	no current intention of deferring interest payments on the
	Debentures. See "Specific Terms of the Fixed-To-Fixed Reset
	Rate Junior Subordinated Debentures-Option to Defer Interest
	Payments" in this prospectus supplement.
Certain Limitations During an Optional	During a Series A Optional Deferral Period or a Series B
Deferral Period	Optional Deferral Period, we will not, and will not permit any of
	our majority-owned subsidiaries to: (i) declare or pay any
	dividends or distributions, or redeem, purchase, acquire or make
	a liquidation payment, on any shares of capital stock of
	American Electric Power Company, Inc.; (ii) make any payment
	of principal of, or interest or premium, if any, on or repay,
	purchase or redeem any of our debt securities that rank upon our
	liquidation on a parity with or junior to the Debentures; or (iii)
	make any payments with respect to any guarantee by us of debt
	securities if such guarantee ranks upon liquidation on a parity
	with or junior to the Debentures, subject to certain exceptions.
	See "Specific Terms of the Fixed-To-Fixed Reset Rate Junior
	Subordinated Debentures-Option to Defer Interest Payments"
	in this prospectus supplement.

S-7

Events of Default

U.S. Federal Income Tax Considerations

See "Description of the Junior Subordinated Debentures- Events of Default" in the accompanying prospectus.

A valid extension of the interest payment rate period by the Company as contemplated in the Subordinated Indenture shall not constitute a default in the payment of interest giving rise to an "Event of Default" under the accompanying prospectus.

In connection with the issuance of the Debentures, Simpson Thacher & Bartlett LLP, special tax counsel to the Company, will render its opinion that, while the matter is not completely free from doubt, under applicable law as of the issue date of the Debentures, the Debentures will be properly characterized as indebtedness for U.S. federal income tax purposes. This opinion is subject to certain customary assumptions and limitations. See "Certain U.S. Federal Income Tax Considerations" in this prospectus supplement.

We agree, and by acquiring an interest in a Debenture each holder and beneficial owner of a Debenture agrees, to treat the Debentures as indebtedness for U.S. federal, state and local tax purposes.

S-8

	If we defer interest payments on either series of the Debentures
	for one or more Optional Deferral Periods, the Debentures of
	such series would be treated as reissued with original issue
	discount ("OID") at the time of such deferral, and all stated
	interest on such Debentures due after such deferral would be
	treated as OID. In such case, if you are a U.S. holder (as defined
	under "Certain U.S. Federal Income Tax Considerations" in this
	prospectus supplement) that owns such Debentures, you will be
	required to include such OID in taxable income (as ordinary
	income) as it accrues, using a constant yield method, regardless
	of your regular method of accounting for U.S. federal income
	tax purposes and in advance of the receipt of the cash to which
	such OID is attributable.
	If you sell or otherwise dispose of a Debenture before the record
	date for the payment of interest at the end of an Optional
	Deferral Period, you will not receive such interest. Instead, the
	accrued interest will be paid to the holder of record on the
	record date regardless of who the holder of record may have
	been on any other date during the Optional Deferral Period.
	Moreover, if you are a U.S. holder, the accrued OID will be
	added to your adjusted tax basis in the Debenture but may not
	be reflected in the amount you realize on the sale or other
	disposition. To the extent the amount realized on a sale or other
	taxable disposition of a Debenture is less than your adjusted tax
	basis, you will generally recognize a capital loss for U.S.
	federal income tax purposes. The deductibility of capital losses
	is subject to limitations. See "Certain U.S. Federal Income Tax
	Considerations-Tax Consequences to U.S. Holders-Sale,
	Exchange, Retirement or Other Taxable Disposition of the
	Debentures" in this prospectus supplement.
Reopening of the Series	We may, without the consent of the holders of the Debentures,
	increase the principal amount of either series and issue
	additional junior subordinated debentures of such series having
	the same ranking, interest rate, maturity and other terms as the
	Debentures. Any such additional junior subordinated debentures
	of such series may, together with the Debentures of such series
	offered hereby, constitute a single series of securities under the
	Subordinated Indenture.
Use of Proceeds	The net proceeds from the sale of the Debentures will be used
	for general corporate purposes including the payment of short-
	term indebtedness. If we do not use the net proceeds
	immediately, we will temporarily invest them in short-term,
	interest-bearing obligations. As of June 10, 2024, we had
	approximately $1.73 billion in short-term indebtedness
	outstanding.

S-9

Conflicts of Interest	Certain of the underwriters or their affiliates may own our short-
	term indebtedness, a portion of which is expected to be
	redeemed with the net proceeds from the sale of the Debentures.
	See "Underwriting (Conflicts of Interest)-Conflicts of
	Interest").
Trustee	The Bank of New York Mellon Trust Company, N.A. (as
	successor to The Bank of New York).
Governing Law	The Debentures, and the Subordinated Indenture and
	supplemental indenture pursuant to which the Debentures will
	be issued, will be governed by and construed in accordance with
	the laws of the State of New York.
Listing	The Debentures are a new issue of securities with no established
	trading market. We do not intend to apply for listing of the
	Debentures on any securities exchange and cannot assure
	holders that an active after-market for the Debentures will
	develop or be sustained or that holders of the Debentures will be
	able to sell them at a favorable price or at all.

S-10