Coupon is fixed at 6.95% until 9/15/2029 after which the coupon will reset at the 5 year treasury plus a spread of 2.771%
May only be redeemed on a dividend payment date
Type: Fixed-Rate Reset
Synchrony Financial 8.25% Fixed Rate Reset Non-Cumulative Perpetual Preferred Stock, Series B
From and including the date of issuance at a rate of 8.250% per annum, to but excluding, the First Reset Date, and from and including the First Reset Date, during each Reset Period, the Five-Year U.S. Treasury Rate as of the most recent reset dividend determination date (each as defined in the preliminary prospectus supplement dated February 15, 2024) plus 4.044%. 1st reset date is 5/15/2029
Redeemable only on the first reset date and any dividend payment date after that
Jackson Financial Inc. 8.00% Fixed-Rate Reset Noncumulative Perpetual Preferred Stock, Series A
Coupon is fixed at 8% until 3/30/2028 after which it will reset at the 5 year treasury plus a fixed spread of 3.728%. The coupon will reset every 5 years.
Ellington Financial Inc. 8.625% Series C Fixed-Rate Reset Cumulative Redeemable Preferred Stock
The coupon is fixed at 8.625% until 4/30/2028 at which time the rate is reset at the 5 year treasury plus a spread of 5.13% afterwhich the rate resets every 5 years.
Redwood Trust Inc. 10.00% Series A Fixed-Rate-Reset Cumulative Redeemable Preferred Stock
Coupon is fixed at 10% until 4/15/2028 after which it will reset at the 5 year treasury rate plus a spread of 6.278%