Capital One Financial Announces New Preferred Issue

Banker Capital One Financial (COF) has announced they will be selling a new issue of preferred stock.

The company already has 5 issues outstanding which can be seen here. None of the these issues are currently redeemable.

The issue will be split investment grade (S&P below investment grade and Moodys investment grade).

The preliminary prospectus can be found here.

EarlyBird was right on this.

7 thoughts on “Capital One Financial Announces New Preferred Issue”

  1. There is a 6th COF issue, 14040HBH7. 3mL+3.80% paid quarterly. Last declared coupon was 4.03%. Bid/ask is 100.2000/100.4500, with last trade of 100.2600 for a 4.01 yld.

    The issue is past call, resets quarterly, and keeps a steady price (except last March/April) at right around 100, meaning no call risk. It’s a reasonable cash sub. If I were buying I would look for 99.60.

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