Alcoa (AA) Prices $1B Notes Offering

Alcoa Inc. (NYSE: AA) today announced the pricing of its public offering of $1 billion aggregate principal amount of 6.150% Notes due August 15, 2020. The offering is expected to close on or about August 3, 2010.

Alcoa expects to receive aggregate net proceeds from this offering of approximately $993 million, after deducting underwriting discounts and estimated offering expenses.

Alcoa intends to use the net proceeds from this offering together with cash on hand, if necessary, to fund the purchase price of its 6.50% Notes due 2011, 6.00% Notes due 2012 and 5.375% Notes due 2013 that are tendered and accepted for purchase in its tender offers launched on July 26, 2010.

Banc of America Securities LLC, Citigroup Global Markets Inc., Deutsche Bank Securities Inc. and UBS Securities LLC are acting as bookrunners for the offering of notes.