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Heartland Financial USA, Inc. (Dubuque, IA) | Dep Share Rate Reset Non-Cumul Prfd Stock Ser E (HTLFP)
Prospectus excerpt: We are offering 4,000,000 depositary shares, each representing a 1/400th ownership interest in a share of our 7.00% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series E, par value $1.00 per share (the “Series E Preferred Stock”), with a liquidation preference of $25 per depositary share (equivalent to $10,000 per share of Series E Preferred Stock). As a holder of depositary shares, you will be entitled to all proportional rights and preferences of the Series E Preferred Stock represented thereby (including dividend, voting, redemption, and liquidation rights). You must exercise any such rights through the depositary. We will pay dividends on the Series E Preferred Stock, when, as, and if declared by our board of directors or a duly authorized committee of our board of directors, to the extent that we have lawfully available funds to pay dividends. If declared, dividends will accrue and be payable, quarterly in arrears, (i) from and including the date of original issuance to, but excluding, July 15, 2025 (the “First Reset Date”) at a rate of 7.00% per annum, on January 15, April 15, July 15 and October 15 of each year, commencing on October 15, 2020, and (ii) from and including July 15, 2025, during each reset period, at a rate per annum equal to the five-year treasury rate as of the most recent reset dividend determination date (as described elsewhere in this prospectus supplement) plus 6.675%, on January 15, April 15, July 15, and October 15 of each year, beginning on July 15, 2025, except in each case where such day is not a business day. Upon payment of any dividends on the Series E Preferred Stock, holders of depositary shares are expected to receive a proportionate payment. Full Prospectus PDF », Secondary Prospectus PDF », HTLF Page »
Series: | E | Redeemable?: | Yes | Call Date: | 7/15/2025 | Perpetual?: | Yes | Cumulative?: | No | Shares Offered: | 4,000,000 | Overallotment: | 600,000 | Liquidation Preference: | $25.00 | Recent Market Price: | $25.10 | Premium to Liquidation Preference: (More Preferreds Trading at a Premium ») | $0.10 (0.40%) | Annualized Dividend: | 1.75 | Recent Ex-Date: | 6/28/2024 | Current Yield: | 6.97% | Original Coupon: | 7.00% until 7/15/2025, then equal to the sum of the five-year treasury rate on the applicable fixed rate calculation date plus 6.675%, resetting every 5 years thereafter on applicable fixed rate calculation date | Pay Period: | Quarterly | Pay Dates: | 15-Jan, 15-Apr, 15-Jul, 15-Oct | CDx3 Compliance Rating: |
Learn HTLFP's Rating
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Heartland Financial USA is a multi-bank holding company. Co. conducts a community banking business via various community banks (collectively, the Banks). The principal business of Co.'s Banks consists of making loans to and accepting deposits from businesses and consumers. Co.'s lending and investment activities are funded primarily by primary deposits. Deposit products include checking and other demand deposit accounts, NOW accounts, savings accounts, money market accounts, certificates of deposit, individual retirement accounts and other time deposits. Loan products include commercial and industrial, commercial real estate, small business, agricultural, real estate mortgage and consumer. Preferred: HTLFP Open the HTLF Information Page »
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Name: |
Heartland Financial USA, Inc. (Dubuque, IA) |
Website: |
www.htlf.com |
Sector: |
Banking & Savings |
Number of ETFs Holding HTLF: |
34 (see which ones) |
Total Market Value Held by ETFs: |
$218,854,505.88 |
Total Market Capitalization: |
$1,796,000,000 |
% of Market Cap. Held by ETFs: |
12.19% |
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