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Fifth Third Bancorp (Cincinnati, OH) | 6.00% Non-Cumululative Perpetual Preferred (FITBP)
This preferred is marked as having been called.
Prospectus excerpt: Fifth Third Bancorp, 6.00% Depositary Shares Each Representing a 1/40th Interest in a Share of Non-Cumulative Perpetual, Class B Preferred Stock, Series A, liquidation preference $25 per depositary share, redeemable at the issuer's option on or after 11/25/2022 at $25 per depositary share plus declared and unpaid dividends, and with no stated maturity. Non-Cumulative distributions of 6.00% per annum ($1.50 per annum or $0.375 per quarter) will be paid quarterly on 3/31, 6/30, 9/30 & 12/31 to holders of record on the record date that will be the 15th calendar day prior to the payment date or the record date fixed by the board, not more than 30 days prior to the payment date (NOTE: the ex-dividend date is one business day prior to the record date). The dividends are non-cumulative and if the board of directors does not declare a dividend or the company fails to pay a dividend declared by the board for any quarterly dividend period, the holder will not be entitled to receive any dividend for that quarterly period and the undeclared or unpaid dividend will not accumulate. This security is possibly subject to an early call as a result of the occurrence of a regulatory capital treatment event which no longer allows the company to include the funds originating from this security as Tier 1 capital on their balance sheet (see the prospectus for further information). In regard to the payment of dividends and upon liquidation, the preferred shares rank junior to the company's senior debt, equally with other preferreds of the company, and senior to the common shares of the company. See the IPO prospectus for further information on the preferred stock by clicking on the ‘Link to IPO Prospectus’ provided below. Full Prospectus PDF », Secondary Prospectus PDF », FITB Page »
Series: | A | Redeemable?: | Yes | Call Date: | 11/25/2022 (Now Trading Post Call Date) | Perpetual?: | Yes | Cumulative?: | No | Shares Offered: | 10,000,000 | Overallotment: | 1,500,000 | Liquidation Preference: | $25.00 | Recent Market Price: | $25.08 | Premium to Liquidation Preference: (More Preferreds Trading at a Premium ») | $0.08 (0.32%) | Annualized Dividend: | 1.5 | Recent Ex-Date: | 12/27/2023 | Current Yield: | 5.98% | Original Coupon: | 6.00% | Pay Period: | Quarterly | Pay Dates: | 31-Mar, 30-Jun, 30-Sep, 31-Dec | CDx3 Compliance Rating: |
Learn FITBP's Rating
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Fifth Third Bancorp is a bank holding company. Through its subsidiaries, Co. provides a range of financial products and services to the commercial, financial, retail, governmental, educational, energy and healthcare sectors. This includes a range of checking, savings and money market accounts, wealth management solutions, payments and commerce solutions, insurance services and credit products such as commercial loans and leases, mortgage loans, credit cards, installment loans and auto loans. These products and services are delivered through a variety of channels including Co.'s banking centers, other offices, telephone sales, the internet and mobile applications. Preferreds: FTB.PRB, FITBI, FITBP, FITBO Open the FITB Information Page »
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Name: |
Fifth Third Bancorp (Cincinnati, OH) |
Website: |
www.53.com |
Sector: |
Banking & Savings |
Number of ETFs Holding FITB: |
109 (see which ones) |
Total Market Value Held by ETFs: |
$4,821,856,408.52 |
Total Market Capitalization: |
$24,544,000,000 |
% of Market Cap. Held by ETFs: |
19.65% |
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