American Express offers fixed-to-floaters via four bookrunners

By Mary-Katherine Stinson

Lexington, Ky., April 26 – American Express Co. is planning a dollar-denominated offering of fixed-to-floating rate notes, according to a 424B2 filing with the Securities and Exchange Commission.

During the floating-rate period, the notes will bear interest at SOFR plus an applicable margin.

There will be a par call option on a certain date, in whole, or after a different date in whole or in part.

Citigroup Global Markets Inc., HSBC Securities (USA) Inc., Morgan Stanley & Co. LLC and RBC Capital Markets, LLC are working as bookrunners.

Bank of New York Mellon will be the trustee.

American Express is using in-house counsel. Cleary Gottlieb Steen & Hamilton LLP is advising the underwriters.

Proceeds will be used for general corporate purposes.

The credit card services company is based in New York.

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