---
schema_version: "secwatch.filing_event.v1"
accession: "0000874501-23-000098"
form_type: "8-K"
ticker: "OSG"
cik: "0000874501"
company_name: "OCTAVE SPECIALTY GROUP INC"
filed_at: "2023-06-15T23:59:59+00:00"
generated_at: "2026-06-14T00:46:46.035713+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.15
calibrated_materiality_score: 0.15
confidence: "high"
source: SEC EDGAR
---

# Ambac notifies AMPS holders of LIBOR-to-SOFR replacement effective July 1, 2023

## Summary
- Reference rate for eight series of AMPS will switch from one-month LIBOR to one-month CME Term SOFR plus 0.11448% spread adjustment.
- Effective date: LIBOR Replacement Date expected July 1, 2023, per LIBOR Act and Federal Reserve Regulation ZZ.
- No dividend payments on AMPS have been made since 2010; change applies to calculation of Auction Rate for future dividends if declared.
- AMPS series A-H affected (CUSIPs listed); governing documents lacked a replacement benchmark rate provision.

## SEC filing metadata
- accession: 0000874501-23-000098
- form_type: 8-K
- ticker: OSG
- cik: 0000874501
- company_name: OCTAVE SPECIALTY GROUP INC
- filed_at: 2023-06-15T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.15
- calibrated_materiality_score: 0.15
- confidence: high
- sec_items: 7.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/874501/000087450123000098/0000874501-23-000098-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/874501/000087450123000098/ambc-20230615.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000874501-23-000098
- JSON: https://secwatch.observer/filing/0000874501-23-000098.json
- Plain text: https://secwatch.observer/filing/0000874501-23-000098.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.