Yes, it will change from Effective September 1.

We constantly evaluate our products and services to make sure we are meeting Card Members’ needs. With these changes, we’ve added more value to the Card across travel, dining, wellness, entertainment, and retail, while still maintaining this benefit as a valuable option.

You will see it on your July Statement that the Invest with Rewards redemption is being changed from 1.25% to 1.10%,

The new rate will be 110 basis points. For example, if you want to redeem 10,000 points that will be the equivalent of $110.