First Republic Bank has priced their recently announced preferred stock.
The issue prices at 4.50% for 26 million shares with another 3.9 million available for over-allotments.
This issue is investment grade with S&P at BBB- and Moody’s at Baa3.
The issue will trade immediately on the OTC under ticker FRCDV.
The press release can be found her. Full details have not been filed.