Insurance company/asset manager AXA Equitable (EQH) has posted the pricing on the new preferred stock previously announced.
The issue has priced with a fixed rate coupon of 5.25%–slightly better than what I thought it might price.
The issue is non cumulative and qualified and is a fairly large issue with 29 million shares with 4.35 million more for an over allotment.
The shares will trade on the OTC Grey market immediately under ticker AXQEL.
![](https://innovativeincomeinvestor.com/wp-content/uploads/2019/11/axa.png)
The pricing term sheet can be found here.
Thank you Jerry for having the correct coupon hours ago.