Formerly Post Properties. $50/share issue.
Commencing 10/21/2022, if shares have not been redeemed the coupon rate will increase by 2% (50 cents) of the liquidation preference ($25/share) per annum. The coupon will increase by 2% on each anniversary date thereafter to a maximum of 14%.
If the company fails to maintain an asset coverage ratio of 200% the company must redeem enough shares (which may include some of these preferred shares) to cause the company to meet the asset coverage ratio.