By Andrea Heisinger
Omaha, April 11 - American Express Bank FSB priced $1.75 billion 5.5% five-year bank notes on Friday to yield Treasuries plus 300 basis points, an informed source said.
The non-callable notes (A3/A+/A+) priced at 99.767 to yield 5.554%.
Bookrunners were Citigroup Global Markets Inc. and J.P. Morgan Securities Inc.
The branch of financial services company American Express is based in New York City.
| Issuer: | American Express Bank FSB
|
| Issue: | Bank notes
|
| Amount: | $1.75 billion
|
| Maturity: | April 16, 2013
|
| Bookrunners: | Citigroup Global Markets Inc., J.P. Morgan Securities Inc.
|
| Coupon: | 5.5%
|
| Price: | 99.767
|
| Yield: | 5.554%
|
| Spread: | Treasuries plus 300 bps
|
| Call: | Non-callable
|
| Trade date: | April 11
|
| Settlement date: | April 16
|
| Ratings: | Moody's: A3
|
| Standard & Poor's: A+
|
| Fitch: A+
|
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