Summary
Ameriprise Financial, Inc. (AMP) filed an 8-K on November 13, 2013, to report a material definitive agreement concerning the issuance of $150,000,000 principal amount of 4.00% Senior Notes due 2023. This issuance was executed under an Underwriting Agreement dated November 7, 2013, with several prominent underwriters, including Credit Suisse Securities (USA) LLC, Goldman, Sachs & Co., J.P. Morgan Securities LLC, and Wells Fargo Securities, LLC. The Senior Notes are unsecured obligations of the company, ranking senior to subordinated debt and pari passu with other senior unsecured debt. The notes carry a 4.00% annual interest rate, payable semi-annually, with redemption options for the company. This filing also includes related exhibits such as the form of the note, an underwriter's opinion, and a computation of earnings ratio, all pertaining to the financing activities.
Key Highlights
- 1Ameriprise Financial issued $150 million in 4.00% Senior Notes due 2023.
- 2The notes are senior unsecured obligations, ranking equally with other senior unsecured debt.
- 3The issuance was facilitated by an Underwriting Agreement with major financial institutions.
- 4Interest on the notes will be paid semi-annually at a 4.00% annual rate.
- 5The company retains the option to redeem the notes, in whole or in part, under specific conditions.
- 6The filing includes exhibits detailing the form of the note, legal opinions, and financial calculations.
- 7The earliest event reported in connection with this filing was on November 7, 2013 (the Underwriting Agreement date).