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Form 8-K · Current Report · Filed 2024-07-26

American Express Company Issues New Fixed-to-Floating Rate Notes

On July 26, 2024, American Express Company issued $1,200,000,000 of 5.043% Fixed-to-Floating Rate Notes due 2028, $1,700,000,000 of 5.284% Fixed-to-Floating Rate Notes due 2035, and $500,000,000 of Floating Rate Notes due 2028 under a senior indenture.

Filer
American Express Co. AXP · NYSE
Filed
Accession
0000004962-24-000054
CIK
0000004962
Signal
Medium impactFinancial Services

Details

These Notes were issued pursuant to a Prospectus Supplement and are part of the company's Registration Statement on Form S-3.

Items reported

Item 8.01

Other Events

Convertible Notes Offering
Item 9.01

Financial Statements and Exhibits

Exhibits Furnished

Market reaction

Close before filing

$240.18

Next session

+3.2%

Since filing

+40.0%

Latest close

$336.25

What happened, not what will happen — closing prices around the filing date.

Precedent

Previous filings from AXP reporting the same item, with the next session's move:

Exhibits (1)

About American Express Co.

American Express Co. is a leading global financial services company, primarily known for its charge cards, credit cards, and travel-related services. Founded in 1850 and headquartered in New York City, American Express is recognized for its premium customer service and luxury lifestyle benefits, distinguishing it within the highly competitive financial services industry. Its products are used by individual consumers, small businesses, and large corporations, showing a robust presence in various sectors. The company's core operations encompass a broad range of payment solutions, offering rewarding loyalty programs such as Membership Rewards, which enhance customer engagement and satisfaction. American Express also provides products related to expense management and international payment processing, essential for businesses and travelers worldwide. Their unique charge card model, which requires payment in full each month, promotes financial discipline among cardholders. American Express plays a significant role in the financial market, not only by facilitating consumer and business transactions but also by supporting economic activities and travel industries. Its stock performance is closely watched by investors for insights into consumer spending trends, making it a vital entity in global financial dynamics.

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