Coupon is fixed at the rate of 6.50% until 3/15/2021 after which the rate will float at a rate of 3 month Libor plus a spread of 5.09%
May only be redeemed on a dividend payment date
Sector: Banking
Customers Bancorp, 6.45% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock Series E
The coupon is fixed at 6.45% until 6/16/2021 after which at a floating rate equal to 3 month LIBOR plus a spread of 5.14%
May only be redeemed on a dividend payment date
Customers Bancorp, 6.00% Fixed-to-Floating Non-Cumulative Perpetual Preferred Stock Series F
The coupon is fixed until 12/16/2021 afterwhich at a floating rate equal to 3 month LIBOR plus a spread of 4.762%
May only be redeemed on a dividend payment date
Cullen/Frost Bankers, 5.375% Non-Cumulative Perpetual Preferred Stock, Series A
Only callable on a dividend payment date.
2/14/2020 SAN ANTONIO, Feb. 14, 2020 /PRNewswire/ — Cullen/Frost Bankers, Inc. (NYSE:CFR) today announced that it has called for redemption all 6,000,000 outstanding shares of its 5.375% Non-Cumulative Perpetual Preferred Stock, Series A (“Series A Preferred Stock”) (NYSE:CFR PrA). The redemption price per share of the Series A Preferred Stock, as specified in the prospectus at the time of issuance, is $25.00.
Payment of the redemption price will be made on the redemption date of March 16, 2020. The Depository Trust Company will redeem the Series A Preferred Stock in accordance with its procedures and notify the holders. Holders of the Series A Preferred Stock need not take any action to receive payment of the redemption price.
Commerce Bancshares, Inc. 6.00% Series B Non-Cumulative Perpetual Preferred Stock
May only be redeemed on a dividend payment date