AT&T (T) has priced their previously announced perpetual preferred stock.
The coupon is fixed at 5.0% for 48 million shares.
The issue is split investment grade with only Standard and Poor rating the issue investment grade.
The dividends are cumulative and qualified.
The issue will trade on the OTC Grey Market right away.
![](https://innovativeincomeinvestor.com/wp-content/uploads/2019/12/t.png)
The pricing term sheet can be found here.