The coupon is fixed at 6.125% until 4/30/2022 and will float beginning on 5/1/2022 at a rate of 3 month Libor plus a spread of 4.0675%.
May only be redeemed on a dividend payment date
Sector: Banking
PNC Financial Services Group, 5.375% Non-Cumulative Preferred Stock, Series Q
May only be redeemed on a dividend payment date
Northern Trust Corp., 5.85% Series C Non-Cumulative Perpetual Preferred Stock
Redeemable only on a dividend payment date
US Bancorp, Floating Rate Non-Cumulative Perpetual Preferred Stock Series B (3.5% Min)
Coupon Floats at the rate of whichever is greater between either 1) .60% plus 3 month libor or 2) 3.5%
Beginning 7/1/2023 this issue will changeover to SOFR (from LIBOR) so the rate will be 3 month SOFR plus an applicable spread. The press release with details is here.
7/1/2023 Now trading with 3 month SOFR plus .2616% Replacing LIBOR
U.S. Bancorp, 6.5% Fixed-to-Floating Non-Cumulative Perpetual Preferred Stock Series F
Rate is Fixed until 1/14/2022 at 6.5%. There after the coupon floats at a rate of 3 month libor plus a spread of 4.468%.