Banker Truist Financial Prices Fixed Rate Preferred

Truist Financial (TFC) has priced the previously announced non-cumulative preferred stock.

The issue will carry a fixed rate coupon of 5.25%. The issue is a large one of 20 million shares with another 3 million available for over allotment. The shares will have an optional redemption period starting 6/1/2025.

The issue is investment grade.

Shares will trade immediately under OTC grey market temporary ticker TFCLL.

The pricing term sheet can be seen here.

6 thoughts on “Banker Truist Financial Prices Fixed Rate Preferred”

  1. I purchased for my kids’ accounts after the usual 45-minute call to Vanguard required of OTC issues. No it’s not a penny stock and it is a Fortune 500 company. Never heard of it? You should read more.

    In addition to the other exchange traded Truist issues there are 3 issues that trade “trace” that can be compared.

    Stupid name. Hope they change it.

  2. Looks like a good company (who knows what write-offs are in the cards for the banks over the next couple of years), but the yield is a bit too skinny for my taste.

  3. For those that may be interested in this new issue CNBC just announced that Kelly King the CEO of Truist will be on for an interview at 2PM TODAY. I know many of you make fun of CNBC but I myself have found them to be helpful in certain ways. I have it on most of the day. Sorry, I should have said 2PM central time. Best thing to do is just tape it as with these networks you never know when they bring him on.

  4. I took a starter position. This bank has plenty of capital unless we go into the next Great Depression. If spx can hold 2700 on pullbacks, my next fib target is 3150 area. We need to take out 200 dma. first. Thanks Tim and everyone contributing to this great site, ATB.

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