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NGL Energy Partners LP 9.625% Class C Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units

Coupon is fixed at 9.625% until 4/15/2024 at which point it begins to float at 3 month Libor plus a spread of 7.384%

6/3/2021 dividends are suspended

Ticker: NGL-C

Parent Ticker: NGL

OTC Grey Market Temporary Ticker: NGLPP

Issuance Date: 03/26/2019

1st Call Date: 04/15/2024

Maturity Date: None

Shares Issued: 1,600,000

Overallotment Shares: 240,000

Coupon: 9.625%

Face Value: $25.00

Cumulative: Yes

Qualified: No

Quarterly Dividend Amount: 0.6016

Payment Months: JAN, APR, JUL, OCT

Payment Day: 15

S&P Rating: NR

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

Moody Rating: NR

Fitch Rating: NR