American Express Plans Public Offering to Fund Redemption of Preferred Shares

American Express is planning to issue depositary shares as part of a proposed public offering. The company announced this move in its preliminary prospectus supplement filed on August 5, 2026. The net proceeds from the sale will be used for general corporate purposes, which may include the partial or full redemption of Series D preferred shares.

The proposed offering involves depositary shares representing interests in new Fixed Rate Reset Noncumulative Preferred, Series E. Each depositary share represents 1/1,000th of a new Series E preferred share.

No assurance is provided that the offering will be priced or completed, nor that it will lead to the redemption of Series D preferred shares. The pricing and any potential redemption depend on market conditions at the time.