Stifel Financial (NYSE:SF) has priced their new preferred stock with a coupon of 6.25%. The permanent ticker will be SF-B when it moves from the OTC market to the NYSE. Shares are rated BB- by S&P–non investment grade.
The terms are normal-quarterly payments, qualified dividends, non cumulative and a early redemption option available to the issuer starting 3/15/2024. They will be selling 6 million shares with over allotment shares available of 900,000 shares.
As mentioned earlier the issue will trade tomorrow (depending on the brokerage firm you use) under the temporary OTC Grey Market ticker of SFEIP.