Summary
Ameriprise Financial, Inc. (AMP) has filed a Form 8-K to report the issuance of $500 million in aggregate principal amount of 2.875% Senior Notes due 2026. The issuance, which closed on August 11, 2016, was facilitated through an Underwriting Agreement dated August 8, 2016, with Citigroup Global Markets Inc., J.P. Morgan Securities LLC, and Wells Fargo Securities, LLC, acting as underwriters. These senior unsecured notes are governed by an indenture with U.S. Bank National Association as trustee. The notes rank equally with other senior unsecured debt and senior to all subordinated indebtedness of the company. The company has the option to redeem the notes at certain prices, with specific provisions for redemption prior to the "Par Call Date" (June 15, 2026) and on or after that date. This filing primarily serves to disclose the material definitive agreement and related documentation.
Key Highlights
- 1Ameriprise Financial issued $500 million in 2.875% Senior Notes due 2026.
- 2The notes were issued under an Underwriting Agreement dated August 8, 2016.
- 3The senior unsecured notes will mature in 2026.
- 4The notes bear a fixed interest rate of 2.875% per annum, payable semi-annually.
- 5Ameriprise has the option to redeem the notes, with specific redemption prices outlined.
- 6The notes rank senior to the company's subordinated indebtedness.
- 7The filing includes related documents such as the form of the note, underwriting agreement, and legal opinions.