By Andrea Heisinger
New York, March 8 - Ameriprise Financial, Inc. priced $750 million of 5.3% 10-year senior unsecured notes on Monday to yield 162.5 basis points over Treasuries, a source close to the sale said.
The notes were priced at the tight end of talk in the range of 162.5 bps to 175 bps, the source said. Bookrunners pointed to the secondary market for guidance.
The notes (A3/A/A-) were priced at 99.761 to yield 5.331%. They have a make-whole call at Treasuries plus 25 bps.
Bookrunners were Goldman Sachs & Co., Credit Suisse Securities and Morgan Stanley & Co. Inc.
Co-managers were Bank of America Merrill Lynch, HSBC Securities, J.P. Morgan Securities Inc. and Wells Fargo Securities.
Proceeds will be used for general corporate purposes, including repayment of 5.35% senior notes due in 2010 totaling $340 million.
The financial planning and services company is based in Minneapolis.
| Issuer: | Ameriprise Financial, Inc.
|
| Issue: | Senior unsecured notes
|
| Amount: | $750 million
|
| Maturity: | March 15, 2020
|
| Bookrunners: | Goldman Sachs & Co., Credit Suisse Securities, Morgan Stanley & Co. Inc.
|
| Co-managers: | Bank of America Merrill Lynch, HSBC Securities, J.P. Morgan Securities Inc., Wells Fargo Securities
|
| Coupon: | 5.3%
|
| Price: | 99.761
|
| Yield: | 5.331%
|
| Spread: | Treasuries plus 162.5 bps
|
| Call: | Make-whole at Treasuries plus 25 bps
|
| Trade date: | March 8
|
| Settlement date: | March 11
|
| Ratings: | Moody's: A3
|
| Standard & Poor's: A
|
| Fitch: A-
|
| Price talk: | 162.5 to 175 bps
|
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