US Bancorp Prices Preferred Issue

Finally the new US Bancorp fixed rate preferred issue has been priced–5.50%.

All terms are typical–qualified dividends, non-cumulative, quarterly dividends and optionally redeemable in about 5 years and strongly investment grade (A3 from Moodys).

The pricing term sheet is here.

One thought on “US Bancorp Prices Preferred Issue”

SteveA says:

08/10/2018 at 8:40 am

I have passed on this (so far). I also passed on Key Bank recent offering UNTIL the price fell to below $24.60. If I hold for one year (long term capital gains) and sell at coupon that 7%+ on an investment grade. Works for me.

I doubt this one drops below $25 to create a similar situation.

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