American Express issues 1.6 million Series E preferred depositary shares, redeems Series D
American Express closed the sale of 1,600,000 depositary shares, each a 1/1,000th interest in a 6.450% Series E preferred share, on August 12, 2026. The company also plans to redeem all Series D preferred shares and depositary shares on September 15, 2026, at $1,000 per depositary share plus declared and unpaid dividends, and the Series E terms restrict common and parity dividends if Series E dividends are not paid in full.
Key points
- Issued 1,600 Series E preferred shares, backing 1,600,000 depositary shares, on August 12, 2026
- Series E liquidation preference is $1,000,000 per share, or $1,000 per depositary share
- Series D preferred shares and depositary shares to be redeemed in full on September 15, 2026, at $1,000 per depositary share plus declared and unpaid dividends
- Series E terms limit common and parity dividends and redemptions if Series E dividends are not paid in full
The filing
Written by AI on Nov 8, 2026, 2:16 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on August 12, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.