By Andrea Heisinger
Omaha, April 11 - American Express Bank FSB priced $1.75 billion 5.5% five-year bank notes on Friday to yield Treasuries plus 300 basis points, an informed source said.
The non-callable notes (A3/A+/A+) priced at 99.767 to yield 5.554%.
Bookrunners were Citigroup Global Markets Inc. and J.P. Morgan Securities Inc.
The branch of financial services company American Express is based in New York City.
Issuer: | American Express Bank FSB
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Issue: | Bank notes
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Amount: | $1.75 billion
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Maturity: | April 16, 2013
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Bookrunners: | Citigroup Global Markets Inc., J.P. Morgan Securities Inc.
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Coupon: | 5.5%
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Price: | 99.767
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Yield: | 5.554%
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Spread: | Treasuries plus 300 bps
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Call: | Non-callable
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Trade date: | April 11
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Settlement date: | April 16
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Ratings: | Moody's: A3
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| Standard & Poor's: A+
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| Fitch: A+
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