American Express launches public offering of Series E preferred depositary shares

American Express launched a proposed public offering of depositary shares tied to a new series of Fixed Rate Reset Noncumulative Preferred Shares, Series E.

Proceeds are earmarked for general corporate purposes, including a potential partial or full redemption of its outstanding 3.550% Fixed Rate Reset Noncumulative Preferred Shares, Series D.

Pricing, closing, any Series D redemption, size, and timing remain subject to market conditions and other factors.