Fulton Financial Prices New Preferred

Fulton Financial (FULT) has priced the previously announced issue of investment grade preferred stock.

Shares priced at 5.125%. Shares are rated Baa3 by Moody’s and not rated by Standard and Poor’s.

Dividends are qualified, but non cumulative and have an early redemption period starting 1/15/2026 (on redeemable on a dividend payment date).

The issue will trade on the NASDAQ under ticker FULTP after a stint on the OTC grey market starting immediately under the temporary ticker FULPP

The pricing term sheet can be read here.

4 thoughts on “Fulton Financial Prices New Preferred”

    1. With price action like this, doesn’t it make Baa2 rated BSA 5.125% note (not preferred) due 8/1/31 @ $25 interesting???? Granted it’s a financial not a bank and it’s currently callable just past x-div date, but I like these characteristics and BSIG has been hitting 52 week highs to boot.

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