<SEC-DOCUMENT>0001104659-22-062508.txt : 20220518
<SEC-HEADER>0001104659-22-062508.hdr.sgml : 20220518
<ACCEPTANCE-DATETIME>20220518171308
ACCESSION NUMBER:		0001104659-22-062508
CONFORMED SUBMISSION TYPE:	FWP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20220518
DATE AS OF CHANGE:		20220518

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AMERICAN EXPRESS CO
		CENTRAL INDEX KEY:			0000004962
		STANDARD INDUSTRIAL CLASSIFICATION:	FINANCE SERVICES [6199]
		IRS NUMBER:				134922250
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		FWP
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	333-253057
		FILM NUMBER:		22940148

	BUSINESS ADDRESS:	
		STREET 1:		200 VESEY STREET
		STREET 2:		50TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10285
		BUSINESS PHONE:		2126402000

	MAIL ADDRESS:	
		STREET 1:		200 VESEY STREET
		STREET 2:		50TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10285

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AMERICAN EXPRESS CO
		CENTRAL INDEX KEY:			0000004962
		STANDARD INDUSTRIAL CLASSIFICATION:	FINANCE SERVICES [6199]
		IRS NUMBER:				134922250
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		FWP

	BUSINESS ADDRESS:	
		STREET 1:		200 VESEY STREET
		STREET 2:		50TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10285
		BUSINESS PHONE:		2126402000

	MAIL ADDRESS:	
		STREET 1:		200 VESEY STREET
		STREET 2:		50TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10285
</SEC-HEADER>
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<TYPE>FWP
<SEQUENCE>1
<FILENAME>tm2215622d4_fwp.htm
<DESCRIPTION>FWP
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="background-color: white"><B>Issuer
Free Writing Prospectus&nbsp;</B></FONT><BR>
<FONT STYLE="background-color: white"><B>Filed pursuant to Rule&nbsp;433&nbsp;</B></FONT><BR>
<FONT STYLE="background-color: white"><B>Registration No.&nbsp;333-253057</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>AMERICAN EXPRESS COMPANY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>$750,000,000 4.989% Fixed-to-Floating Rate Subordinated
Notes due May&nbsp;26, 2033 (the &ldquo;Notes&rdquo;)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 37%"><B>Issuer:</B></TD>
    <TD STYLE="width: 63%">American Express Company</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><B>Expected Ratings<SUP>(1)</SUP>:</B></TD>
    <TD>A3 / BBB / A- (Stable/Stable/Stable) (Moody&rsquo;s / S&amp;P / Fitch)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><B>Ranking:</B></TD>
    <TD>The Notes are unsecured and will be subordinated in right of payment to all Senior Indebtedness of American Express Company, but equal in right of payment to its outstanding $600 million of 3.625% subordinated notes due 2024.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><B>Trade Date:</B></TD>
    <TD>May&nbsp;18, 2022</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><B>Settlement Date:</B></TD>
    <TD>May&nbsp;26, 2022 (T+6).&nbsp;&nbsp;Pursuant to Rule&nbsp;15c6-1 under the Securities Exchange Act of 1934, as amended, trades in the secondary market generally are required to settle in two business days, unless the parties to any such trade expressly agree otherwise.&nbsp;&nbsp;Accordingly, purchasers who wish to trade the Notes on any date prior to two business days before delivery will be required, by virtue of the fact that the Notes are initially expected to settle in 6 business days (T+6), to specify alternate settlement arrangements to prevent a failed settlement.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><B>Maturity Date:</B></TD>
    <TD>May&nbsp;26, 2033</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><B>Par Amount:</B></TD>
    <TD>$750,000,000</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><B>Benchmark Treasury:</B></TD>
    <TD>2.875% due May&nbsp;15, 2032</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><B>Benchmark Treasury Price and Yield:</B></TD>
    <TD>99-28; 2.889%</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><B>Re-offer Spread to Benchmark:</B></TD>
    <TD>+210 bps</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><B>Re-offer Yield:</B></TD>
    <TD>4.989%</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><B>Fixed Rate Coupon:</B></TD>
    <TD>4.989%</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><B>Floating Rate Base Rate:</B></TD>
    <TD>Compounded SOFR (as determined in accordance with the provisions set forth in the Preliminary Prospectus Supplement, as defined below)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><B>Floating Rate Spread:</B></TD>
    <TD>+225.5 <FONT STYLE="color: #231F20">bps</FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 37%"><B>Public Offering Price:</B></TD>
    <TD STYLE="width: 63%">100.000%</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><B>Underwriters&rsquo; Discount:</B></TD>
    <TD>0.450%</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><B>Net Proceeds to American Express Company:</B></TD>
    <TD>$746,625,000 (before expenses)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><B>Fixed Rate Period:</B></TD>
    <TD><FONT STYLE="color: #231F20">From, and including, the date of issuance of the Notes to, but excluding, May&nbsp;26, 2032</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><B>Floating Rate Period:</B></TD>
    <TD><FONT STYLE="color: #231F20">From, and including, May&nbsp;26, 2032 to, but excluding, the Maturity Date</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><B>Interest Rates:</B></TD>
    <TD><FONT STYLE="color: #231F20">The Notes will bear interest (i)&nbsp;during the Fixed Rate Period at a rate per annum equal to 4.989%, and (ii)&nbsp;during the Floating Rate Period at a rate per annum of Compounded SOFR plus 2.255%. </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><B>Interest Payment Dates:</B></TD>
    <TD>(i)&nbsp;During the Fixed Rate Period, <FONT STYLE="color: #231F20">May&nbsp;26 </FONT>and <FONT STYLE="color: #231F20">November&nbsp;26</FONT> of each year, beginning on <FONT STYLE="color: #231F20">November&nbsp;26,</FONT> 2022 and (ii)&nbsp;during the Floating Rate Period, <FONT STYLE="color: #231F20">February&nbsp;26, May&nbsp;26, August&nbsp;26 and November&nbsp;26, beginning on August&nbsp;26, 2032</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><B>Interest Periods:</B></TD>
    <TD>Semi-annually in arrears during the Fixed Rate Period and quarterly in arrears during the Floating Rate Period</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><B>Floating Rate Interest Determination Date:</B></TD>
    <TD>The date two U.S. Government Securities Business Days preceding each Floating Rate Interest Payment Date (or in the final Floating Rate Interest Period, preceding the Maturity Date, or in the case of the redemption of any Notes, preceding the redemption date)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><B>Day Count:</B></TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Fixed Rate Period: 30 / 360</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Floating Rate Period: Actual / 360</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><B>Optional Redemption:</B></TD>
    <TD><FONT STYLE="color: #231F20">Notes may be redeemed (i)&nbsp;in whole but not in part during the three-month period prior to, and including, May&nbsp;26, 2032 (the tenth anniversary of the date of issuance), (ii)&nbsp;in whole or in part during the three-month period prior to the Maturity Date or (iii)&nbsp;in whole but not in part at any time within 90 days following the occurrence of a Regulatory Capital Event, in each case, at a redemption price equal to the principal amount of the Notes being redeemed, together with any accrued and unpaid interest thereon to, but excluding, the date fixed for redemption.&nbsp;&nbsp;No redemption of the Notes may be made without the prior approval of the Federal Reserve.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><B>Listing:</B></TD>
    <TD>The Notes will not be listed on any exchange.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><B>Minimum Denominations/Multiples:</B></TD>
    <TD>Minimum denominations of $2,000 and integral multiples of $1,000 in excess thereof</TD></TR>
</TABLE>

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  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 37%"><B>CUSIP:</B></TD>
    <TD STYLE="width: 63%">025816CX5</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top"><B>ISIN:</B></TD>
    <TD>US025816CX59</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><B>Joint Book-Running Managers:</B></TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Deutsche Bank Securities Inc.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">RBC Capital Markets, LLC</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><B>Co-Managers:</B></TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Lloyds Securities Inc.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">TD Securities (USA) LLC</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">U.S. Bancorp Investments,&nbsp;Inc.</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><B>Junior Co-Managers:</B></TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">CastleOak Securities, L.P.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Siebert Williams Shank&nbsp;&amp; Co., LLC</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>(1)</SUP>&nbsp; An explanation of the significance of ratings
may be obtained from the rating agencies. Generally, rating agencies base their ratings on such material and information, and such of
their own investigations studies and assumptions, as they deem appropriate. The rating of the Notes should be evaluated independently
from similar ratings of other securities. A credit rating of a security is not a recommendation to buy, sell or hold securities and may
be subject to review, revision, suspension, reduction or withdrawal at any time by the assigning rating agency.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">All capitalized terms used but not defined herein have the respective
meanings assigned thereto in the Preliminary Prospectus Supplement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The issuer has filed a registration statement (including a base prospectus
dated February&nbsp;12, 2021) and a preliminary prospectus supplement, dated May&nbsp;18, 2022 (the &ldquo;Preliminary Prospectus Supplement&rdquo;),
with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration
statement, the Preliminary Prospectus Supplement and other documents the issuer has filed with the SEC for more complete information about
the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively,
the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling
Deutsche Bank Securities Inc. at 1-800-503-4611 or RBC Capital Markets, LLC at 1-866-375-6829.</P>

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