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American Express Company Announces Pricing Terms Of Note Exchange Offers

American Express Company (NYSE: AXP) announced today the pricing terms of its previously announced private offers to exchange (i) any and all of its outstanding 8.125% Senior Notes due 2019 for its new Senior Notes due December 2, 2022 and cash and (ii) any and all of its outstanding 8.150% Senior Notes due 2038 for its new Senior Notes due December 3, 2042 and cash. The pricing terms were determined as of the price determination date, which was 2:00 p.m., New York City time, on November 27, 2012, in accordance with the terms set out in the confidential offering circular for the exchange offers, dated November 13, 2012, and the related letter of transmittal.

The interest rate on the new 2022 notes will be 2.650%. The “New 2022 Issue Yield” (as defined in the confidential offering circular) on the new 2022 notes will be 2.697% and the “New 2022 Notes Value” (as defined in the confidential offering circular) of the new 2022 notes will be $1,145.29. These amounts were determined by reference to the bid-side yield on the 1.625% U.S. Treasury due November 15, 2022 as of the price determination date, which was 1.647%.

The interest rate on the new 2042 notes will be 4.050%. The “New 2042 Issue Yield” (as defined in the confidential offering circular) on the new 2042 notes will be 4.086% and the “New 2042 Notes Value” (as defined in the confidential offering circular) of the new 2042 notes will be $1,341.64. These amounts were determined by reference to the bid-side yield on the 2.75% U.S. Treasury due August 15, 2042 as of the price determination date, which was 2.786%.

The total exchange price to be received in each exchange offer for each $1,000 principal amount of the relevant series of old notes validly tendered, and not validly withdrawn, at or prior to the early participation date (5:00 p.m., New York City time, on November 27, 2012), is set forth in the table below. Each total exchange price includes the early exchange premium of $30.00 per $1,000 principal amount of the relevant series of old notes validly tendered, and not validly withdrawn, at or prior to the early participation date. The total exchange price for each exchange offer has been determined in accordance with the procedures set forth in the confidential offering circular. Holders of old notes that validly tender old notes after the early participation date and whose old notes are accepted in the applicable exchange offer will receive the exchange price, which is the total exchange price less the early exchange premium.

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