The previously announced new preferred issue from Capital One Financial (COF) has been priced.
The company has sold 17 million shares with a coupon of 4.25%.
The issue is split investment grade – S&P is BB and Moody’s is Baa3. Fitch is BB+.
The issue trades immediately on the OTC grey market under temporary ticker COFNV. Watch for possible changes in the ticker as lately most have been changing after the initial announcement.