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
Type: Fixed-Rate Reset
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.
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.