Business Context and Reporting Period
This Form 8-K Current Report was filed by American Express Company on November 6, 2018. The filing primarily addresses the issuance of new debt securities and corrects a typographical error in a previously filed Prospectus Supplement dated November 2, 2018.
Key Financial Metrics and Debt Issuance
The Company issued a total of $3.0 billion in aggregate principal amount of notes. The specific tranches are as follows:
- 3.700% Fixed Rate Notes due November 5, 2021: $1,250,000,000
- Floating Rate Notes due November 5, 2021: $1,000,000,000
- 4.200% Fixed Rate Notes due November 6, 2025: $750,000,000
The filing does not provide data on revenue, profit, cash flow, operating margins, or existing liquidity positions, as this report focuses solely on the debt issuance event.
Material Changes and Corrections
The filing corrects a typographical error found on page S-18 of the Prospectus Supplement filed on November 2, 2018. The correction updates the table detailing the allocation of the note principal amounts among the underwriters. The corrected total allocations match the aggregate principal amounts listed above.
Guidance, Outlook, and Risks
This filing contains no management commentary, forward-looking guidance, or discussion of risks and contingencies beyond the standard disclosure of the debt issuance. The document serves as a notification of the transaction and the correction of the underwriting table.
Investor Verification Checklist
- Verify the final terms of the $3.0 billion debt issuance, specifically the interest rates (3.700%, Floating, 4.200%) and maturity dates (2021 and 2025).
- Confirm the corrected underwriting allocations for the 2021 Fixed Rate, 2025 Fixed Rate, and Floating Rate notes as detailed in the updated table.
- Review the Prospectus Supplement dated November 1, 2018, and the Registration Statement on Form S-3 (No. 333-223581) for full legal terms and use of proceeds.