By Marisa Wong
Los Angeles, March 6 – Ameriprise Financial Inc. priced $750 million of 5.15% senior notes due May 15, 2033 (A3/A-/A-/A.M. Best: a-) on Monday, according to an FWP filing with the Securities and Exchange Commission.
The notes priced at 99.757 to yield 5.179%, or a spread of 120 basis points over Treasuries.
The notes feature a make-whole call followed by a par call.
Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, Wells Fargo Securities, LLC, BofA Securities Inc. and Citigroup Global Markets Inc. are the joint bookrunners.
Proceeds will be used for general corporate purposes, which may include the repayment of the company’s 4% senior notes due 2023.
The diversified financial services company is based in Minneapolis.
| Issuer: | Ameriprise Financial Inc.
|
| Amount: | $750 million
|
| Issue: | Senior notes
|
| Maturity: | May 15, 2033
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| Joint bookrunners: | Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, Wells Fargo Securities, LLC, BofA Securities Inc. and Citigroup Global Markets Inc.
|
| Co-managers: | Barclays, Credit Suisse Securities (USA) LLC, HSBC Securities (USA) Inc. and U.S. Bancorp Investments, Inc.
|
| Trustee: | U.S. Bank Trust Co., NA
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| Counsel to issuer: | Faegre Drinker Biddle & Reath LLP
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| Counsel to underwriters: | Simpson Thacher & Bartlett LLP
|
| Coupon: | 5.15%
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| Price: | 99.757
|
| Yield: | 5.179%
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| Spread: | Treasuries plus 120 bps
|
| Call features: | Make-whole call at Treasuries plus 20 bps prior to Feb. 15, 2033; par call after that
|
| Trade date: | March 6
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| Settlement date: | March 9
|
| Ratings: | Moody’s: A3
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| S&P: A-
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| Fitch: A-
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| A.M. Best: a-
|
| Distribution: | SEC registered
|
| Cusip: | 03076CAM8
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