Sector: Banking
Medallion Bank 8.00% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series F
The coupon will be fixed at 8% until 4/1/2025 after which it will float at the rate of 3 month SOFR, plus a spread of 6.46%.
Medallion Bank is a division of Medallion Financial
We show no prospectus below because the bank files through the FDIC and one must go to that site and search for the prospectus
https://efr.fdic.gov/fcxweb/efr/index.html
https://efr.fdic.gov/fcxweb/efr/index.html
SVB Financial Group 5.25% Fixed-Rate Non-Cumulative Perpetual Preferred Stock, Series A
SVB was seized by the FDIC 3/2023
Citizens Financial Group, Inc. 5.00% Fixed-Rate Non-Cumulative Perpetual Preferred Stock, Series E
Only Redeemable on a dividend payment date
JPMorgan Chase & Co. 4.75% Non-Cumulative Preferred Stock
Only redeemable on a dividend payment date
Fifth Third Bancorp 4.95% Series K Preferred Stock
Bank of America Corporation 5.00% Non-Cumulative Preferred Stock, Series LL
Capital One Financial Corporation 5.00% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series I
Redeemable only on a dividend payment date
Merchants Bancorp 6.00% Fixed-to-Floating Rate Series B Non-Cumulative Perpetual Preferred Stock
Coupon is fixed until 10/1/2024 at 6.00% after which it begins to float at a rate of 3 month Libor plus a spread of 4.569%
May only be redeemed on a dividend payment date
Synovus Financial Corp Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series E
Coupon is fixed until 7/1/2024 at which time the coupon will be reset at a rate of the 5 Year Treasury plus a spread of 4.127%. It will again be reset on each 5th anniversary.
Issue is only redeemable on a reset date.