American Express buys all floaters due 2033 in remarketing, plans to cancel notes

By Jennifer Chiou

New York, June 5 - American Express Co. announced that it completed the remarketing of $1.99 billion of its remarketed floating-rate notes due 2033.

The New York City-based global payments and travel company said it purchased all the notes in the remarketing, all of which will be canceled effective June 10.

The cash interest rate on the notes will be Libor plus 155 basis points beginning on June 5.

The next remarketing reset date for the notes will be June 10, 2009.

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