American Express Co. is offering $1 billion of credit card-backed securities eligible for funding under a Federal Reserve program, according to a person familiar with the matter.

Underwriters are aiming to price the bonds to yield about 140 basis points over the one-month London interbank offered rate.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.