Ameriprise Financial Announces Offering of Junior Subordinated Notes.MINNEAPOLIS -- Ameriprise Financial Ameriprise Financial, Inc. (NYSE: AMP) is a company offering financial advice and products. It is the successor to American Express Financial Advisors (AEFA), which was a subsidiary of the American Express Company. , Inc. (NYSE NYSE See: New York Stock Exchange :AMP) today announced that it has commenced a public offering of its Junior Subordinated Notes "the Notes," which will have a 60-year final maturity. The Company expects to use the proceeds from the sale of the Notes for general corporate purposes. The Notes will have a fixed rate coupon for an initial ten-year period and thereafter the coupon will become floating. After ten years, the Years, The the seven decades of Eleanor Pargiter’s life. [Br. Lit.: Benét, 1109] See : Time Notes will be callable Callable Applies mainly to convertible securities. Redeemable by the issuer before the scheduled maturity under specific conditions and at a stated price, which usually begins at a premium to par and declines annually. at any time, in whole or in part, at a redemption price Redemption price See: Call price redemption price 1. The price at which an open-end investment company will buy back its shares from the owners. In most cases, the redemption price is the net asset value per share. 2. equal to the principal amount plus accrued and unpaid interest. Prior to the tenth anniversary of their issuance, the Notes may be called in whole, but not in part, at a "make-whole" redemption price plus accrued and unpaid interest. The Company expects the Notes to be rated Baa2 by Moody's Investors Service Moody's Investors Service A leading global credit rating, research and risk analysis firm. Moody's Investors Service A leading firm engaged in credit rating, risk analysis, and research of fixed-income securities and their issuers. , BBB BBB A medium grade assigned to a debt obligation by a rating agency to indicate an adequate ability to pay interest and repay principal. However, adverse developments are more likely to impair this ability than would be the case for bonds rated A and above. by Standard & Poor's, BBB+ by Fitch and bbb by A.M. Best. Lehman Brothers Lehman Brothers Holdings Inc. (NYSE: LEH), founded in 1850, is a diversified, global financial services firm. It is a participant in investment banking, equity and fixed income sales, research and trading, investment management, private equity, and private banking. is acting as structuring advisor on this offering. The joint book-running managers are Lehman Brothers and JPMorgan. This news release does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the Notes in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such states. When available, copies of the prospectus and prospectus supplement, subject to completion, relating to the Notes may be obtained by contacting the Lehman Brothers Inc. syndicate desk at 212-526-9664 or the JPMorgan syndicate desk at 212-834-4533. Legal Notice Regarding Forward-Looking Statements: This news release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933. All statements other than statements of historical fact included in this news release are forward-looking statements. All forward-looking statements speak only as of the date of this press release. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results or performance of the Company and its affiliates or industry results to be materially different from any future results or performance expressed or implied by such forward-looking statements. Such risks, uncertainties and other factors relate to, among others, difficulties potentially delaying or preventing the completion of this offering of Junior Subordinated Notes. Additional information or factors which could impact the Company and the forward-looking statements contained herein are included in the prospectus supplement, filed with the Securities and Exchange Commission on May 16, 2006. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events. |
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