By Cristal Cody
Tupelo, Miss., March 31 – Ameriprise Financial, Inc. sold $500 million of 3% five-year senior notes (A3/A) on Tuesday at 99.577 to yield 3.092%, according to a market source and an FWP filing with the Securities and Exchange Commission.
The notes priced with a spread of 275 basis points over Treasuries.
Initial talk was in the 312.5 bps over Treasuries area.
BofA Securities Inc., Credit Suisse Securities (USA) LLC, Goldman Sachs & Co. LLC and HSBC Securities (USA) Inc. were the bookrunners.
Proceeds will be used for general corporate purposes.
Ameriprise Financial is a financial services company based in Minneapolis.
| Issuer: | Ameriprise Financial, Inc.
|
| Amount: | $500 million
|
| Description: | Senior notes
|
| Maturity: | April 2, 2025
|
| Bookrunners: | BofA Securities Inc., Credit Suisse Securities (USA) LLC, Goldman Sachs & Co. LLC and HSBC Securities (USA) Inc.
|
| Co-managers: | Citigroup Global Markets Inc., J.P. Morgan Securities LLC and Wells Fargo Securities, LLC
|
| Coupon: | 3%
|
| Price: | 99.577
|
| Yield: | 3.092%
|
| Spread: | Treasuries plus 275 bps
|
| Call features: | Make-whole call before March 2, 2025 at Treasuries plus 45 bps; thereafter at par
|
| Trade date: | March 31
|
| Settlement date: | April 2
|
| Ratings: | Moody’s: A3
|
| S&P: A
|
| Distribution: | SEC registered
|
| Price guidance: | Treasuries plus 312.5 bps area
|
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