American Express to offer fixed-, floating-rate notes

By William Gullotti

Buffalo, N.Y., March 1 – American Express Co. intends to simultaneously offer fixed- and floating-rate notes, according to a 424B2 filing with the Securities and Exchange Commission on Tuesday.

The floating-rate notes will be based on SOFR plus a margin.

Both tranches will feature a make-whole call followed by a par call.

Barclays, Citigroup Global Markets Inc., Deutsche Bank Securities Inc. and Morgan Stanley & Co. LLC will be the joint bookrunning managers for the offering.

Bank of New York Mellon is the trustee.

The issuer will use in-house legal counsel. Cleary Gottlieb Steen & Hamilton LLP is legal counsel for the underwriters.

Proceeds from the offering will be used for general corporate purposes.

The credit card services company is based in New York.

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