May only be redeemed on a dividend payment date
Sector: Banking
US Bancorp 5.50% Series K Non-Cumulative Perpetual Preferred Stock
KeyCorp 5.65% Fixed-Rate Perpetual Non-Cumulative Preferred Stock, Series F
Issue may only be redeemed on a dividend payment date
Bank of America 6.00% Non-Cumulative Preferred Stock Series GG
First Republic Bank 5.50% Non-Cumulative Series I Perpetual Preferred Stock
On 3/19/2023 S&P downgrade these to CCC
FDIC seized 4/30/2023 and FRC sold to JPM
Bank of America 5.875% Non-Cumulative Preferred Stock, Series HH
Synovus Financial Corp. 6.30% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series D
Coupon is fixed at 6.30% until 6/21/2023 after which it will float at the rate of 3 month Libor plus 3.352%
Valley National Bancorp 5.50% Fixed-to-Floating Rate Non Cumulative Preferred Stock, Series B
Coupon is fixed at 5.50% until 9/30/2022 at which point the coupon floats at 3 month Libor plus a spread of 3.578%
Only redeemable on a dividend payment date
Zions Bancorporation, 6.95% Fixed-to-Floating Rate Subordinated Notes due 2028
Coupon is fixed at 6.95% Until 9/15/2023 and will begin to float after that date at a rate of 3 month Libor plus a spread of 3.89%.
Ticker changed from ZBK to ZIONL
Raymond James Financial Inc 6.75% Fixed-to-Floating Rates Series A Non-Cumulative Perpetual Preferred Stock
Originally issued by Tristate Capital which was merged with Raymond James Financial effective 6/1/2022
Shares Shall be fixed rate at 6.75% until 4/1/2023 at which time they will float at a rate of 3 month libor plus 3.985%
Only redeemable on a dividend payment date