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 a rate of 6.625% until 8/1/2025 after which it will float at a rate of 3 month Libor plus a spread of 4.262%
THIS ISSUE PAYS ONLY 2 DIVIDEND PAYMENTS PER YEAR ON 2/1 AND 8/1. When the floating rate period (8/1/2025) begins the company will pay quarterly dividends.
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