AP classes only satisfy GE requirements. I think some AP course satisfy prerequisites, although that is determined by USC on a case-by-case basis.
Here’s the full list:
GE-A: The Arts - Art History
GE-D: Life Sciences - Biology
GE-E: Physical Sciences - Chemistry, Physics 1, Physics 2, Physics B, Physics (C- Electricity/Magnetism), Physics (C- Mechanics)
GE-F: Quantitative Reasoning - Calculus AB, Calculus BC, Macroeconomics, Microeconomics, Statistics
GE-H: Traditions and Historical Foundations - European History, US History, World History
Only scores of a 4 or 5 will be accepted for credit.
http://arr.usc.edu/services/articulation/adv_placement_exam_credit.html