Summary
Ameriprise Financial, Inc. (AMP) filed an 8-K on March 22, 2019, to announce the issuance of $500 million in 3.000% Senior Notes due 2022. These notes are senior unsecured obligations of the company, ranking equally with other senior unsecured debt and prior to subordinated debt. This issuance represents a capital markets activity undertaken by Ameriprise. Investors should note the specific interest rate of 3.000% and the semi-annual interest payment dates. The company retains the option to redeem these notes under certain conditions, with the redemption price calculated based on the greater of par value or a present value calculation discounted at the Treasury rate plus 15 basis points.
Key Highlights
- 1Ameriprise Financial issued $500,000,000 of 3.000% Senior Notes due 2022.
- 2The notes are senior unsecured obligations of the company.
- 3Interest rate on the notes is 3.000% per annum.
- 4Interest payments are made semi-annually on March 22 and September 22.
- 5The company has the option to redeem the notes early under specific conditions.
- 6The issuance was conducted under a previously disclosed Underwriting Agreement dated March 12, 2019.