Financing ·
American Express Company issued 1,600 shares of 6.450% Fixed Rate Reset Noncumulative Preferred Shares, Series E, with…
AXPAmerican Express Co
American Express Company issued 1,600 shares of 6.450% Fixed Rate Reset Noncumulative Preferred Shares, Series E, with a $1,600 million aggregate liquidation preference ($1,000,000 per share), deposited against delivery of depositary receipts evidencing 1,600,000 Depositary Shares. The company filed a Certificate of Amendment to fix the designations and rights of these new preferred shares, which restricts dividends on common or parity preferred stock if Series E dividends are not paid. Concurrently, American Express plans to redeem in full its outstanding Series D Preferred Shares on September 15, 2026, at $1,000,000 per share plus declared unpaid dividends. This equity issuance and redemption activity is part of the company's capital management strategy within the financial services industry.