Sector: Banking
First Horizon National., 6.625% Series B Fixed to Floating Non-Cumulative Perpetual Preferred Stock
IberiaBank merged with First Horizon National on 7/1/2020 with First Horizon National surviving. New shares of First Horizon Preferred have been exchanged for the old IberiaBank preferred–all terms remain the same.
Coupon is fixed at a rate of 6.625% until 8/1/2025 after which it will float at a rate of 3 month Libor plus a spread of 4.262%
THIS ISSUE PAYS ONLY 2 DIVIDEND PAYMENTS PER YEAR ON 2/1 AND 8/1. When the floating rate period (8/1/2025) begins the company will pay quarterly dividends.
First Horizon National, 6.60% Series C Fixed to Floating Non-Cumulative Perpetual Preferred Stock
IberiaBank merged with First Horizon National on 7/1/2020 with First Horizon National surviving. New shares of First Horizon Preferred have been exchanged for the old IberiaBank preferred–all terms remain the same.
Coupon is fixed until 5/1/2026 after which it will trade with a floating rate of 3 month Libor plus a spread of 4.92%
Huntington Bancshares, 6.25% Series D Non-Cumulative Perpetual Preferred Stock
Issue may only be redeemed on a dividend payment date
Huntington Bancshares, 5.875% Non-Cumulative Perpetual Preferred Stock Series C
Was originally issused by First Merit
Issue may only be redeemed on a dividend payment date