Coupon will be fixed at 7.25% until 2/15/2024 after which it will float at a rate of 3 month Libor plus a spread of 4.60%
Sector: Banking
Discover Financial Services, 6.50% Non-Cumulative Preferred Stock B
Capital One Financial 6.0% Non-Cumulative Perpetual Preferred Stock
Redeemable only on a dividend payment date
KeyCorp 6.125% Fixed to Floating Rate Perpetual Non-Cumulative Preferred Stock
Coupon is fixed until 12/15/2026 after which the issue will float at the rate of 3 month Libor plus a spread of 3.892%.
Issue may only be redeemed on a dividend payment date
Customers Bancorp, 7.00% Fix-to-Floating Rate Non-Cumulative Perpetual Preferred Stock Series C
May only be redeemed on a dividend payment date
Coupon is fixed at 7% until 6/14/2020 after which it floats at a rate equal to 3 month LIBOR plus a spread of 5.30%
CAUTION–this issue is now floating at 3 month Libor plus 5.30%