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Energy Transfer Partners 7.375% Series C Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred

4/21 Ticker Changed.

Coupon will be 7.375% until 5/15/2023 and then will float at 3 month Libor plus a spread of 4.53%

Redeemed 02/09/2024

Ticker: ET-C

Parent Ticker: ET

OTC Grey Market Temporary Ticker: ETPPP

Issuance Date: 04/18/2018

1st Call Date: 05/15/2023

Maturity Date: None

Shares Issued: 18,000,000

Overallotment Shares: 2,700,000

Coupon: 7.375%

Face Value: $25.00

Cumulative: Yes

Qualified: No

Quarterly Dividend Amount: 0.461

Payment Months: FEB, MAY, AUG, NOV

Payment Day: 15

S&P Rating: BB+

III Rating (In Regards to Dividend Safety Only): C

Moody Rating: Ba2

Fitch Rating: NR

Egan-Jones Rating: NR