American Express Co. announced plans Monday to sell unsecured bonds to retail investors in increments of $1,000 through InterNotes, a joint venture between Bank of America Corp.'s securities arm and Incapital LLC.
The New York card company said the notes would have maturities of nine months or longer and could offer fixed or floating rates and a variety of payment schedules.
InterNotes has handled similar debt offerings for other financial services companies in the past, including CIT Group Inc., Freddie Mac, and HSBC Holdings PLC.
Incapital bought the LaSalle broker-dealer services division from Bank of America in March, a deal that gave it about two-thirds of the retail corporate bond business.
Bank of America's securities arm and Incapital are joint lead managers and lead agents for the Amex InterNotes offering.