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OceanFirst Financial 7.00% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series A

Coupon is fixed at 7% until 5/15/2025 after which time the coupon floats at 3 month SOFR plus a spread of 6.845%.

Ticker: OCFCP

Parent Ticker: OCFC

OTC Grey Market Temporary Ticker: OCFSL

Issuance Date: 05/01/2020

1st Call Date: 05/15/2025

Maturity Date: None

Shares Issued: 2,200,000

Overallotment Shares: 330,000

Coupon: 7.00%

Face Value: $25.00

Cumulative: No

Qualified: Yes

Quarterly Dividend Amount: 0.4375

Payment Months: FEB, MAY, AUG, NOV

Payment Day: 15

S&P Rating: NR

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

Moody Rating: NR

Fitch Rating: NR

Egan-Jones Rating: NR