Banking | Innovative Income Investor

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

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

Sector: Banking

First Horizon National., 6.625% Series B Fixed to Floating Non-Cumulative Perpetual Preferred Stock

First Horizon National, 6.60% Series C Fixed to Floating Non-Cumulative Perpetual Preferred Stock

Huntington Bancshares, 6.25% Series D Non-Cumulative Perpetual Preferred Stock

Huntington Bancshares, 5.875% Non-Cumulative Perpetual Preferred Stock Series C

HSBC Holdings plc, 6.20% Dep Shares, Non-Cumululative Preference Shares, Series A ADR