SSE PLC

Capital/Financing Update • Sep 7, 2015

Final Terms dated 4 September 2015 SSE plc Issue of €700,000,000 1.750 per cent. Notes due September 2023 under the €10,000,000,000 Euro Medium Term Note Programme

PART A — CONTRACTUAL TERMS

Terms used herein shall be deemed to be defined as such for the purposes of the Conditions set forth in the Prospectus dated 23 July 2015 which constitutes a base prospectus for the purposes of Article 5.4 of Directive 2003/71/EC, as amended (the "Prospectus Directive"). This document constitutes the Final Terms of the Notes described herein for the purposes of Article 5.4 of the Prospectus Directive and must be read in conjunction with such Prospectus. Full information on the Issuer and the offer of the Notes is only available on the basis of the combination of these Final Terms and the Prospectus. The Prospectus is available for viewing at the website of the London Stock Exchange http://londonstockexchange.com/exchange/news/market-news/market-news-home.html and during normal business hours copies may be obtained from SSE plc, Inveralmond House, 200 Dunkeld Road, Perth PH1 3AQ.

1	Issuer:		SSE plc
2	(i)	Series Number:	10
	(ii)	Tranche Number:	1
3	Specified Currency or Currencies:		Euro ("EUR")
4		Aggregate Nominal Amount of Notes:
	(i)	Series:	EUR 700,000,000
	(ii)	Tranche:	EUR 700,000,000
		(iii) Date on which the Notes become fungible:	Not Applicable
5	Issue Price:		99.616 per cent, of the Aggregate Nominal Amount
6	(i)	Specified Denominations:	EUR 100,000 and integral multiples of EUR 1,000 in excess thereof up to and including EUR 199,000. No notes in definitive form will be issued with a denomination above EUR 199,000.
	(ii)	Calculation Amount:	EUR 1,000
7	(i) Issue Date:		8 September 2015
	(ii)	Interest Commencement Date:	Issue Date
8	Maturity Date:		8 September 2023
9	Interest Basis:		1.750 per cent. Fixed Rate (further particulars specified below)
10	Redemption/Payment Basis:		Redemption at par
11		Change of Interest or Redemption/Payment Basis:	Not Applicable
12	Put/Call Options:		Change of Control Put

13 Date Board approval for issuance of Notes obtained:

17 June 2015 and 28 August 2015

PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE

14		Fixed Rate Note Provisions:	Applicable
	(i) Rate of Interest:		1.750 per cent, per annum payable annually in arrear
	(ii)	Interest Payment Date(s):	8 September in each year, from and including 8 September 2016, up to and including the Maturity Date
		(iii) Fixed Coupon Amount:	EUR 17.50 per Calculation Amount
		(iv) Broken Amount(s):	Not Applicable
	(v)	Day Count Fraction:	Actual/Actual (ICMA)
		(vi) Determination Dates:	8 September in each year
15	Floating Rate Note Provisions:		Not Applicable
16	Zero Coupon Note Provisions:		Not Applicable
17		RPI Linked Note Provisions:	Not Applicable
	PROVISIONS RELATING TO REDEMPTION
18		Call Option:	Not Applicable
19		Issuer Maturity Par Call:	Not Applicable
20	General Put Option:		Not Applicable
21	Restructuring Event Put Option:		Not Applicable
22	Change of Control Put Option:		Applicable
	(i) Change of Control Redemption Amount:		EUR 1,000 per Calculation Amount
	(ii) Put Period:		The period of 30 days beginning on and including the date on which a Put Event Notice is given in accordance with Condition 6(e)(v).
		(iii) Put Date:	The earlier of (1) the Maturity Date or (2) the date which falls seven days after the last day of the Put Period.
23	SSE Restructuring Event Put Option:		Applicable
	(i)	SSE Restructuring Event Redemption Amount:	EUR 1,000 per Calculation Amount
	(ii)	Put Period:	The period of 30 days beginning on and including the date on which a Put Event Notice is given in accordance with Condition 6(e)(v).
		(iii) Put Date:	The earlier of (1) the Maturity Date or (2) the date which falls seven days after the last day of the Put Period.
24	Note:	Final Redemption Amount of each	EUR 1,000 per Calculation Amount

Early Redemption Amount(s) per Calculation Amount payable on redemption for taxation reasons or on event of default or other early redemption EUR 1,000

26 Indexation: Not Applicable

GENERAL PROVISIONS APPLICABLE TO THE NOTES

27 Form of Notes: Bearer Notes

Temporary Global Note exchangeable for a Permanent Global Note which is exchangeable for Definitive Notes in the limited circumstances specified in the Permanent Global Note

• 28 New Global Note: Yes
• 29 Financial Centre(s): London and TARGET
• 30 Talons for future Coupons to be attached to Definitive Notes: No

31 U.S. Selling Restrictions: Reg. S Compliance Category 2; TEFRA D

Signed on behalf of the Issuer: Texand By: n. - - - - - - - - - - - - - - - - - - - Duly authorised

Duly authorised

By:

PART B—OTHER INFORMATION

1 LISTING

• (i) Admission to trading: Application has been made by the Issuer (or on its behalf) for the Notes to be admitted to trading on the Regulated Market of the London Stock Exchange plc and admitted to the Official List of the UK Listing Authority with effect from 8 September 2015.
• (ii) Estimate of total expenses related to admission to trading: EUR 3,650

2 RATINGS

Ratings: The Notes to be issued have been rated: Standard & Poor's Credit Market Services Europe Limited: A-

Moody's Investors Service Ltd.: A3

3 INTERESTS OF NATURAL AND LEGAL PERSONS INVOLVED IN THE ISSUE/OFFER

Save as discussed in "Subscription and Sale", so far as the Issuer is aware, no person involved in the offer of the Notes has an interest material to the offer.

4 YIELD

Indication of yield: 1.802 per cent. per annum

The yield is calculated at the Issue Date on the basis of the Issue Price. It is not an indication of future yield.

5 OPERATIONAL INFORMATION

ISIN:	XS1287779208
Common Code:	128777920
Any clearing system(s) other than Euroclear Bank S.A./N.V. and Clearstream Banking, société anonyme and the relevant identification number(s):	Not Applicable
Delivery:	Delivery against payment
Names and addresses of additional Paying Agent(s) (if any):	Not Applicable