Capital One Financial (COF) will be selling a new issue of perpetual, non-cumulative preferred stock.
The issue will trade under the permanent ticker symbol of COF-J when it begins to trade on the NYSE.
The issue is likely to be split rated–investment grade by Moodys and a couple notches below investment grade by S&P.
The OTC Grey market ticker has not yet been announced–but it will trade on the OTC prior to NYSE trading.
The company has 5 issues currently outstanding with coupons of 5% to 6.20%. These issues can be seen here.
NOTE–the COF-P 6.00% issue was callable 9/1/2017 and almost certainly will be called. It was trading around $25.60–now at $25.37. The issue is only redeemable on a dividend payment date.
The preliminary prospectus can be read here.
EarlyBird was the early bird on this one.