American Express Co. has issued $1.6 billion of 3.400% fixed rate notes due Feb. 27, 2023, and $400 million of floating rate notes due Feb. 27, 2023.
Interest on the fixed rate notes is payable on Feb. 27 and Aug. 27 of each year, beginning Aug. 27. Interest on the floating rate notes is payable on Feb. 27, May 27, Aug. 27 and Nov. 27 of each year, beginning May 27. Net proceeds before expenses were about $1.59 billion from the sale of the fixed rate notes and about $398.6 million from the sale of the floating rates notes.
Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC and Goldman, Sachs & Co. LLC served as joint book-running managers for the offerings. Lloyds Securities Inc., MUFG Securities Americas Inc., SMBC Nikko Securities America Inc., Standard Chartered Bank and TD Securities (USA) LLC served as co-managers. Mischler Financial Group Inc. and The Williams Capital Group LP were junior co-managers.
