MIAMI (CBSMiami/AP) — The formation of Subtropical Storm Theta means we have a new record.

The U.S. National Hurricane Center in Miami said late Monday night that Subtropical Storm Theta has emerged in the open northeast Atlantic and poses no immediate threat to land.

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It’s the record-breaking 29th named storm in the 2020 Atlantic hurricane season, surpassing the previous record of 28 named storms set in 2005.

Theta is about 960 miles southwest of the Azores and has maximum sustained winds of 50 mph.

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There are no coastal watches or warnings in effect as the storm moves to the east near 12 mph.

Theta is expected to remain over the Eastern Atlantic for the next several day.

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(© Copyright 2020 CBS Broadcasting Inc. All Rights Reserved. The Associated Press contributed to this report.)