Corporate ActionAug 12, 2026, 05:33 PM
American Express Issues New Series E Preferred Shares
AI Summary
American Express Company issued 1,600 shares of 6.450% Fixed Rate Reset Noncumulative Preferred Shares, Series E, represented by 1,600,000 Depositary Shares. The company also amended its Certificate of Incorporation to fix the terms of these new shares, which have a liquidation preference of $1,000,000 per share. Concurrently, American Express plans to redeem all Series D Preferred Shares and their associated Depositary Shares on September 15, 2026, at a price of $1,000 per Series D Depositary Share plus unpaid dividends.
Key Highlights
- Issued 1,600 shares of 6.450% Fixed Rate Reset Noncumulative Preferred Shares, Series E.
- Series E Preferred Shares are represented by 1,600,000 Depositary Shares.
- Series E Preferred Shares have a liquidation preference of $1,000,000 per share.
- Filed Certificate of Amendment for Series E Preferred Shares on August 11, 2026.
- Closed sale of Series E Depositary Shares on August 12, 2026.
- Plans to redeem Series D Preferred Shares and Depositary Shares on September 15, 2026.
- Redemption price for Series D is $1,000 per Depositary Share plus unpaid dividends.
Price Impact
More from AXP