Sector: Banking
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