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Merchants Bancorp 8.25% Fixed Rate Reset Series D Non Cumulative Perpetal Preferred Stock

Coupon is fixed until 10/1/2027 at 8.25% after which it is reset at the 5 year treasury plus a fixed spread of 4.34%. The coupon will be reset every 5 years

May only be redeemed on a dividend payment date

Ticker: MBINM

Parent Ticker: MBIN

OTC Grey Market Temporary Ticker: NA

Issuance Date: 09/22/2022

1st Call Date: 10/01/2027

Maturity Date: None

Shares Issued: 5,200,000

Overallotment Shares: 0

Coupon: 8.25%

Face Value: $25.00

Cumulative: No

Qualified: Yes

Quarterly Dividend Amount: 0.5156

Payment Months: JAN, APR, JUL, OCT

Payment Day: 1

S&P Rating: NR

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

Moody Rating: Ba3

Fitch Rating: NR

Egan-Jones Rating: NR

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