Summary
Ameriprise Financial, Inc. (AMP) filed an 8-K report on March 11, 2010, to announce a significant financing transaction. The company has issued $750 million in aggregate principal amount of 5.30% Senior Notes due 2020. This issuance was made under an Underwriting Agreement dated March 8, 2010, with several prominent underwriters, including Goldman, Sachs & Co., Credit Suisse Securities (USA) LLC, and Morgan Stanley & Co. Incorporated. The Notes are senior unsecured obligations and rank equally with other senior unsecured indebtedness of the company, but senior to any subordinated debt. Interest payments are set at 5.30% annually, payable semi-annually. The company retains the option to redeem the notes under specific conditions outlined in the filing. This transaction provides Ameriprise Financial with additional capital, the terms of which are detailed in the accompanying prospectus supplement and prospectus.
Key Highlights
- 1Ameriprise Financial issued $750 million in 5.30% Senior Notes due 2020.
- 2The notes are senior unsecured obligations of the company.
- 3The Underwriting Agreement was entered into on March 8, 2010, with a syndicate of underwriters.
- 4Interest on the notes is 5.30% per annum, payable semi-annually.
- 5The company has the option to redeem the notes under specified terms.
- 6The transaction was facilitated by a prospectus supplement filed on March 10, 2010.