Ameriprise increases tender offer cap for 5.35% notes to $450 million

By Angela McDaniels

Tacoma, Wash., July 16 - Ameriprise Financial Inc. said it increased the maximum amount of 5.35% senior notes due Nov. 15, 2010 that it will repurchase in its tender offer to $450 million from $250 million.

The offer began on July 1 and ends at 11:59 p.m. ET on July 29.

As of 5 p.m. ET on July 15, holders had tendered about $462 million of the $800 million notes. Because the offer is oversubscribed, the notes tendered are subject to proration.

The company will pay par plus a $30.00 early tender payment for notes tendered by 5 p.m. ET on July 15. Holders who tender after that time but before the offer expiration will receive par.

Holders will also receive accrued interest.

The lead dealer manager is Goldman, Sachs & Co. (800 828-3182 or call collect 212 902-5183), and the co-dealer manager is Utendahl Capital Group, LLC (212 797-2665). Global Bondholder Services Corp. (866 540-1500 or call collect 212 430-3774) is the information agent.

Amerprise is a financial planning company based in Minneapolis.

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