Amex Issues New Preferred Stock, Announces Series D Redemption

American Express has issued 1,600 shares of its Series E preferred stock and will redeem all of its outstanding Series D preferred stock in full by September 15.

The company's Series E preferred stock has a liquidation preference of $1 million per share. The redemption of the Series D stock comes with an aggregate price equal to $1 million per share, plus any declared and unpaid dividends.

The move is part of American Express' efforts to manage its debt obligations and optimize its capital structure.