New Issue: American Express sells $1 billion notes due 2019 in fixed-, floating-rate tranches

By Cristal Cody

Eureka Springs, Ark., Oct. 26 – American Express Credit Corp. sold $1 billion of series F three-year senior medium-term notes (A2/A-/A) in two tranches on Wednesday, according to FWP filings with the Securities and Exchange Commission.

American Express priced $750 million of 1.7% three-year notes at 99.881 to yield 1.741%, or Treasuries plus 73 basis points.

The $250 million floating-rate tranche priced at par to yield Libor plus 57 bps.

Barclays, RBC Capital Markets, LLC, Wells Fargo Securities, LLC, Lloyds Securities Inc., MUFG and U.S. Bancorp Investments, Inc. were the bookrunners.

American Express Credit is a New York City-based credit card services provider.

Issuer:	American Express Credit Corp.
Amount:	$1 billion
Description:	Senior medium-term notes
Bookrunners:	Barclays, RBC Capital Markets, LLC, Wells Fargo Securities, LLC, Lloyds Securities Inc., MUFG, U.S. Bancorp Investments, Inc.
Junior co-managers:	Williams Capital Group, LP, Drexel Hamilton, LLC
Trade date:	Oct. 26
Settlement date:	Oct. 31
Ratings:	Moody’s: A2
	S&P: A-
	Fitch: A
Distribution:	SEC registered
Three-year notes
Amount:	$750 million
Maturity:	Oct. 30, 2019
Coupon:	1.7%
Price:	99.881
Yield:	1.741%
Spread:	Treasuries plus 73 bps
Call feature:	On or after date 31 days before maturity at par
Three-year floaters
Amount:	$250 million
Maturity:	Oct. 30, 2019
Coupon:	Libor plus 57 bps
Price:	Par
Yield:	Libor plus 57 bps
Call feature:	On or after date 31 days before maturity at par

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