Published on 9/15/2014 in the Prospect News Investment Grade Daily.
New Issue: Ameriprise prices upsized $550 million 3.7% 10-year notes at Treasuries plus 115 bps
By Aleesia Forni
Virginia Beach, Sept. 15 – Ameriprise Financial Inc. sold $550 million of 3.7% senior notes (A3/A/) due 2024 at Treasuries plus 115 basis points, according to a market source and a FWP filed with the Securities and Exchange Commission.
The notes sold in line with guidance.
Pricing was at 99.656 to yield 3.741%.
Barclays, HSBC Securities (USA) Inc. and J.P. Morgan Securities LLC were the bookrunners.
Proceeds will be used for general corporate purposes.
The financial planning and services company is based in Minneapolis.
Issuer: | Ameriprise Financial Inc.
|
Amount: | $550 million, upsized from $500 million
|
Description: | Senior notes
|
Maturity: | Oct. 15, 2024
|
Bookrunners: | Barclays, HSBC Securities (USA) Inc., J.P. Morgan Securities LLC
|
Co-managers: | Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Goldman, Sachs & Co., BofA Merrill Lynch, Mischler Financial Group, Inc.
|
Coupon: | 3.7%
|
Price: | 99.656
|
Yield: | 3.741%
|
Spread: | Treasuries plus 115 bps
|
Trade date: | Sept. 15
|
Settlement date: | Sept. 18
|
Ratings: | Moody’s: A3
|
| Standard & Poor's: A
|
Price talk: | Treasuries plus 115 bps area
|
Make-whole call: | Treasuries plus 20 bps
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.