American Express Company filed a current report on August 5, 2026, announcing the proposed public offering of depositary shares tied to a new series of Fixed Rate Reset Noncumulative Preferred Shares, Series E.

Key Highlights

  • New preferred series: American Express announced a proposed public offering of depositary shares, each representing a 1/1,000th interest in a share of a new Fixed Rate Reset Noncumulative Preferred Shares, Series E.
  • Par value: The new Series E Preferred Shares carry a par value of $1.66 2/3 per share, according to the filing.
  • Intended use of proceeds: The company disclosed it intends to use net proceeds for general corporate purposes, including to partially or fully redeem its outstanding 3.550% Fixed Rate Reset Noncumulative Preferred Shares, Series D.
  • Redemption not guaranteed: The filing states there can be no assurance that the offering will price or close, or that any redemption of the Series D Preferred Shares will occur.
  • Preliminary prospectus filed: A preliminary prospectus supplement dated August 5, 2026, was filed with the SEC in connection with the offering.
  • Registered securities: American Express common shares trade on the New York Stock Exchange under the symbol AXP, with two series of fixed-to-floating rate notes also listed under AXP32 and AXP34.

American Express Proposes New Preferred Share Series to Refinance Existing Capital

American Express Company, a global payments and financial services provider headquartered at 200 Vesey Street, New York, New York 10285, disclosed on August 5, 2026, that it launched a proposed public offering of depositary shares. Each depositary share represents a 1/1,000th fractional interest in one share of the newly designated Fixed Rate Reset Noncumulative Preferred Shares, Series E, with a par value of $1.66 2/3 per share. The offering was described in a preliminary prospectus supplement filed with the SEC on the same date.

According to the filing, the company intends to use net proceeds from the offering for general corporate purposes, which may include the partial or full redemption of its currently outstanding 3.550% Fixed Rate Reset Noncumulative Preferred Shares, Series D, also carrying a par value of $1.66 2/3 per share. The company cautions that the pricing and closing of the offering remain subject to market conditions and other factors, and that no redemption of the Series D Preferred Shares is certain at this stage.

The filing also includes forward-looking statements, which the company identifies as subject to risks and uncertainties, including market conditions, demand for the preferred shares, market capacity, and regulatory considerations. The company noted these statements are made only as of the date of the report and that it undertakes no obligation to update or revise them. The current report was signed by James J. Killerlane III, Corporate Secretary, and dated July 27, 2026.

What Was Disclosed

American Express reported the launch of a proposed depositary share offering tied to a new Series E preferred stock, with proceeds potentially earmarked to redeem its Series D preferred shares, subject to market conditions. No final pricing or redemption terms were confirmed in the filing.