Ameriprise Financial Inc. on April 2 issued $500 million principal amount of 3.000% senior notes due April 2, 2025.
Net proceeds from the offering are expected to be approximately $493.6 million, after deducting underwriting discounts and estimated offering expenses. The net proceeds will be used for general corporate purposes, according to the final prospectus supplement.
Interest on the notes will be paid semiannually in arrears on each April 2 and Oct. 2, starting Oct. 2. At its option, the company may at any time and from time to time redeem the notes in whole or in part, on not less than 15 nor more than 60 days' prior notice sent to each holder of the notes, at the applicable redemption price.
The notes were issued pursuant to an indenture between Ameriprise Financial and U.S. Bank NA, as trustee.
BofA Securities Inc., Credit Suisse Securities (USA) LLC, Goldman Sachs & Co. LLC and HSBC Securities (USA) Inc. served as joint book-running managers for the offering. Citigroup Global Markets Inc., J.P. Morgan Securities LLC and Wells Fargo Securities LLC acted as co-managers.