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.
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