Name changed 8/1/2022–Previously New Residential Investment. Tickers changed.
Coupon is fixed until 8/15/2024 after which it will float at 3 month Libor plus a spread of 5.802%
Type: Floating Rate
Annaly Capital Management 6.75% Series I Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock
Annaly Capital Management, Inc. is a real estate investment trust (REIT) that primarily invests in and manages a portfolio of mortgage-backed securities. The company operates as a middleman between borrowers and lenders by using the funds from short-term borrowings to purchase long-term, fixed-rate mortgages. Annaly Capital generates revenue through the difference between the interest income earned on its mortgage investments and the cost of its borrowings. The company’s goal is to generate high, stable income for its shareholders while also preserving capital. Annaly Capital is headquartered in New York and was founded in 1997.
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
Merged with Apollo Global Management 1/3/2022
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
Raymond James Financial 6.375% Fixed-to-Floating Non-Cumulative Perpetual Preferred Stock, Series B
Originally issued by Tristate Capital which was merged with Raymond James Financial effective 6/1/2022
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
4/21 Ticker Changed.
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%