Floating Rate | Innovative Income Investor

OceanFirst Financial 7.00% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series A

Coupon is fixed at 7% until 5/15/2025 after which time the coupon floats at 3 month SOFR plus a spread of 6.845%.

MFA Finanical 6.50% Series C Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock

Dividend suspended 3/2020 because of asset damage caused by Covid 19. 7/1/2020 The preferred stock was reinstated.

Coupon is fixed at 6.50% until 3/31/2025 after which it will float at 3 month Libor plus a spread of 5.345%

Dynex Capital Inc. 6.90% Series C Fixed-to-Floating Rate Cuymulate Redeemable Preferred Stock

Coupon is fixed at 6.90% until 4/14/2025 afterwhich the rate will be 3 month Libor plus a spread of 5.461% reset quarterly.

New Residential Investment Corp 6.375% Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock

Coupon is fixed until 2/15/2025 after which it will float at 3 month Libor plus a spread of 4.969%

AGNC Investment Corp 6.125% Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock

Coupon is fixed at 6.125% until 4/14/2025 after which it floats at 3 month Libor plus a spread of 4.697%

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

Fortress Transportation and Infrastructure Investors LLC 8.00% Fixed-to-Floating Rate Series B Cumulative Perpetual Redeemable Preferred Stock

Coupon is fixed until 12/15/2024 at 8.00% after which it will float at 3 month Libor plus a spread of 6.447%.

This is a K-1 issuing security

New York Mortgage Trust Inc 7.875% Series E Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock

Coupon is fixed at 7.875% until 1/15/2025 at which point it begins to float at 3 month Libor plus a spread of 6.429%

AG Mortgage Investment Trust 8.00% Series C Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock

Coupon will be fixed at 8% until 9/17/2024 at which point it will begin to float at 3 month Libor plus a spread of 6.475%

Fortress Transportation and Infrastructure Investors LLC 8.25% Fixed-to-Floating Rates Series A Perpetual Redeemable Preferred Stock

Coupon is fixed until 9/14/2024 at 8.25% after which it will float at 3 month Libor plus a spread of 6.886%.

This is a K-1 issuing security

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

New Residential Investment Corporation 7.125% Series B Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock

Coupon is fixed until 8/15/2024 after which it will float at 3 month Libor plus a spread of 5.640%

New Residential Investment Corp 7.50% Series A Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock

Coupon is fixed until 8/15/2024 after which it will float at 3 month Libor plus a spread of 5.802%

Annaly Capital Management 6.75% Series I Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock

Coupon is fixed at 6.75% until 6/30/2024 after which the rate resets quarterly at 3 month libor plus 4.989%.

Athene Holding LTD 6.35% Fixed-to-Floating Rate Perpetual Non-Cumulative Preference Shares Series A

The coupon will be fixed until 6/30/2029 at 6.35% after which point the rate will be reset at a rate of 3 month Libor plus a spread of 4.253%, reset quarterly

Tristate Capital Holdings Inc 6.375% Fixed-to-Floating Non-Cumulative Perpetual Preferred Stock, Series B

Shares Shall be fixed rate at 6.375% until 7/1/2026 at which time they will float at a rate of 3 month libor plus 4.088%

Only redeemable on a dividend payment date

Energy Transfer Operating LP 7.60% Series E Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units

The coupon is fixed at 7.60% until 5/15/2024 after which it will float at a rate of 3 month Libor plus a spread of 5.161%

Regions Financial 5.70% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series C

Coupon is fixed until 8/15/2029 after which point it will float at the rate of 3 month Libor plus a spread of 3.148%

May only be redeemed on a dividend payment date

First Horizon National Corporation 6.10% Fixed-to-Floating Non-Cumulative Perpetual Preferred Stock Series D

IberiaBank merged with First Horizon National on 7/1/2020 with First Horizon National surviving. New shares of First Horizon Preferred have been exchanged for the old IberiaBank preferred–all terms remain the same.

Coupon is fixed at 6.10% until 4/30/2024 after which it will float at the rate of 3 month Libor plus a spread of 3.859%. When the security enters the floating rate period dividends will be paid on a quarterly basis on 2/1, 5/1, 8/1 and 11/1

Dividend is paid only 2 times per year on 5/1 and 11/1–that is why it is not in the grid below. Also the grid below shows a quarterly dividend of .763 cents/quarter–this is the semi-annual payment.

Type: Floating Rate