Summary
Ameriprise Financial, Inc. (AMP) announced on March 31, 2020, the pricing of a $500 million offering of 3.000% Senior Notes due 2025. This debt issuance, led by a syndicate of underwriters including BofA Securities, Credit Suisse, Goldman Sachs, and HSBC, is expected to close on or about April 2, 2020. The notes were offered under a prospectus supplement filed with the SEC as part of the company's existing registration statement. This debt offering occurs amidst the COVID-19 pandemic, and investors are specifically directed to a discussion on page S-2 of the Prospectus Supplement for details on the crisis's effects on the company's business and operating environment. While the filing itself does not provide specifics on how the pandemic impacts Ameriprise, the inclusion of this reference highlights the company's awareness of and the market's focus on these challenges during this period.
Key Highlights
- 1Ameriprise Financial Inc. priced a $500 million offering of Senior Notes.
- 2The Senior Notes have a coupon rate of 3.000% and mature in 2025.
- 3The offering is expected to close around April 2, 2020.
- 4The offering was managed by a syndicate of prominent underwriters including BofA Securities, Credit Suisse, Goldman Sachs, and HSBC.
- 5The notes were registered under the company's existing Form S-3 registration statement.
- 6The company directs readers to a discussion in the Prospectus Supplement regarding the impact of the COVID-19 crisis on its business and operating environment.