Coupon is fixed until 10/1/2027 at 8.25% after which it is reset at the 5 year treasury plus a fixed spread of 4.34%. The coupon will be reset every 5 years
May only be redeemed on a dividend payment date
Sector: Banking
Midland States Bancorp 7.75% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock Series A
Coupon is fixed at 7.75% until 9/30/2027 after which it will reset at the 5 year treasury plus a spread of 4.713%. Coupon is reset every 5 years.
Keycorp 6.20% Fixed-Rate Reset Perpetual Non-Cumulative Preferred Stock, Series H
Initial fixed dividend is 6.20% until 12/15/2027 at which point it will reset based on the 5 year treasury plus a spread of 3.132%
Issue may only be redeemed on a dividend payment date
Pacwest Bancorp 7.75% Fixed Rate Reset Non-Cumulative Perpetual Preferred Stock Series A
Coupon will reset every 5 years starting 9/1/2027 to the 5 year treasruy rate plus a spread of 4.82%
US Bancorp 4.50% Series O Non-Cumulative Perpetual Preferred Stock
Bank of America 4.75% Non-Cumulative Preferred Stock Series SS
Enterprise Financial Services Corp 5.00% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A
Bank OZK 4.625% Series A Non-Cumulative Perpetual Preferred Stock
First Republic Bank 4.00% Non-Cumulative Perpetual Preferrred Stock, Series M
Bank of America Corp 4.25% Non-Cumulative Preferred Shares, Series QQ