Associated Banc-Corp Prices New Preferred–UPDATE–OTC Ticker

Finally the OTC ticker is announced and is ABBCL.

The previously announced new preferred from Associated Banc-Corp (ASB) has been priced.

The issue is priced at 5.625%. Investors should compare the coupon and terms of this new issue against pricing and terms of the 3 currently outstanding preferreds from ASB-they can be see here.

The issue is split investment grade, non-cumulative and qualified.

The issue will trade on the OTC grey market–but the ticker has not been announced as of 7:45 am (central).

The pricing term sheet can be found here.

3 thoughts on “Associated Banc-Corp Prices New Preferred–UPDATE–OTC Ticker”

  1. Trading at 24.90 for a 5.68% yield. I would think that ASB-C, which becomes callable in a few days, is a gonner at some point. That said, the C is trading to yield 6.10% with very little call exposure (14 cents) so continuing to hold would not be silly.

    None of my money is heading here.

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