Solid banker US Bancorp (USB) has announced they will be selling a new issue of non-cumulative preferred stock.
This is a highly rated bank–A3 by Moodys and BBB by Standard and Poors–I am looking at a potential 3.xx coupon on this one.
The company had recently redeemed their 5.15% preferred on 1/15/2021 and now has 4 current preferred issues outstanding–1 that is a pure floater with a 3.50% coupon minimum, 1 that is 6.5% fixed to floating and 2 that are fixed at 5.5% and 3.75% respectively. You can see these issues here.
EarlyBird saw this early on this.