Coupon is fixed until 6/22/2025 after which it is reset every 5 years at the 5 year treasury rate plus a spread of 10.325%. The issue is only redeemable on a reset date–i.e. every 5 years.
Type: Fixed-Rate Reset
WesBanco Inc. 6.75% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series A
Coupon is fixed at 6.75% until 11/14/2025. On 11/15/2025 the rate will be the 5 year treasury and a spread of 6.557% which is reset every 5 years.
Athene 6.375% Fixed-Rate Reset Perpetual Non-Cumulative Preference Shares, Series C
The coupon will be fixed until 9/30/2029 at 6.375% after which point the rate will be reset at a rate the 5 year treasury plus a spread of 5.97%–reset every 5 years.
Argo Group 7.00% Resettable Fixed Rate Preference Shares
Heartland Financial USA Inc. 7.00% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series E
Coupon is fixed at 7% until 7/14/2025. On 7/15/2025 the rate will be the 5 year treasury and a spread of 6.675% which is reset every 5 years.
American Equity Investment Life Holding Company 6.625% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series B
The coupon will be fixed until 9 /1/2025 at 6.625% after which point the rate will be reset at the 5 year treasury plus a spread of 6.297% and there after reset every 5 years
Wintrust Financial Corporation 6.875% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series E
Coupon will be fixed until 7/15/2025 after which it will be reset at the 5 year treasury plus a spread of 6.507%. Every 5 years there after the coupon will reset at the 5 year treasury rate plus the spread
May only be redeemed on a dividend payment date
American Equity Investment Life Holding Company 5.95% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series A
The coupon will be fixed until 12/1/2024 at 5.95% after which point the rate will be reset at the 5 year treasury plus a spread of 4.322% and there after reset every 5 years
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 the reset date.
Voya Financial Inc. 5.35% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series B
The coupon will be fixed until 9/15/2029 at which point the rate will be reset at the 5 year treasury rate plus a spread of 3.21%. The coupon will reset every 5 years on the anniversary date of 9/15/2029
May only be redeemed on a reset date
NiSource 6.50% Series B Fixed Rate Reset Cumulative Redeemable Perpetual Preferred Stock
Coupon is fixed until 3/15/2024 at which time the coupon will be reset at a rate of the 5 Year Treasury plus a spread of 3.632%. It will again be reset on each 5th anniversary until 3/15/2044 at which point an additional 1% will be added to the coupon.
Tennessee Valley Authority Reset Rate Series A Power Bonds due 2029
Please read the prospectus. These reset bonds can be reset lower, but NOT higher. Note that anytime the coupon is reset lower you have the right (not obligation) to ‘put’ you baby bonds back to the company
As of 1/6/2020 the dividend is .21 or .84/annually
Coupon is reset each 6/1 at the 30 year constant maturity treasury plus a spread of .94%. As of 1/6/2020 the CMT is 2.29% which would mean a reset to 3.23%
Tennessee Valley Authority Reset Rate Series D Power Bonds due 2028
Please read the prospectus. These reset bonds can be reset lower, but NOT higher.
Note that anytime the coupon is reset lower you have the right (not obligation) to ‘put’ you baby bonds back to the company
As of 1/6/2020 the interest is .2219 or .89 annually
Coupon is reset each 6/1 at the 30 year constant maturity treasury plus a spread of .94%. As of 1/6/2020 the CMT is 2.29% which would mean a reset to 3.23%