New Residential Investment Prices Fixed Rate Reset Preferred – Ticker Update

UPDATE–this is trading under NRZDP

Mortgage REIT New Residential Investment Corporation (NRZ) has priced their new issue of fixed-rate rest preferred stock.

The issue prices with an initial fixed rate of 7.00% which will ‘reset’ on 11/15/2026 at the rate of the 5 year treasury plus a spread of 6.223%. The issue will reset every 5 years there after.

This is a large issue with 17 million shares being sold with another 2.55 million available for over allotment.

This issue is unrated, cumulative and non qualified.

The company has 3 other preferreds outstanding–all fixed to floating rate and they can be seen here.

It will begin trading immediately under OTC ticker NRZDV–look for this to change in 3 days.

The pricing term sheet can be read here.

5 thoughts on “New Residential Investment Prices Fixed Rate Reset Preferred – Ticker Update”

  1. Bought 24.73 where it’s been hanging around all morning on high volume, The bad news is my other NRZ issues are falling a little. Surely this is the reason.

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