Coupon is fixed until 4/1/2024 at 7% after which it begins to float at a rate of 3 month Libor plus a spread of 4.605%
May only be redeemed on a dividend payment date
Sector: Banking
JPMorgan Chase & Co. 6% Non-Cumulative Preferred Stock, Series EE
Only redeemable on a dividend payment date
Citizens Financial Group 6.35% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series D
Coupon is fixed at 6.35% until 4/5/2024 after which it will float at a rate of 3 month Libor plus a spread of 3.642%
Only redeemable on a dividend payment date
Valley National Bancorp 6.25% Fixed-to-Floating Non-cumulative Preferred Stock
Coupon is fixed at 6.25% until 6/30/2025 after which it floats at a rate of 3 month Libor plus a spread of 3.85%
Only redeemable on a dividend payment date
State Street Corp 6.00% Non-Cumulative Perpetual Preferred Stock Series E
Redemption can only occur on a dividend payment date