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Northern Trust Corp | 4.70% Dep Shares Series E Non-Cumul Perp Preferred Stock (NTRSO)
Prospectus excerpt: Northern Trust Corporation is offering 16,000,000 depositary shares, each representing a 1/1,000th ownership interest in a share of Series E Non-Cumulative Perpetual Preferred Stock, without par value, with a liquidation preference of $25,000 per share (equivalent to $25 per depositary share), or the 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 (including dividend, voting, redemption and liquidation rights). You must exercise such rights through Equiniti Trust Company, as the depositary for the shares of Series E Preferred Stock. Dividends on the Series E Preferred Stock, when, as and if declared by our board of directors or a duly authorized committee of the board, will accrue and be payable on the liquidation preference amount, on a non-cumulative basis, at a rate per annum equal to 4.70%. Dividends will be payable in arrears on the 1st day of January, April, July and October of each year, commencing on April 1, 2020. If our board of directors or a duly authorized committee of the board has not declared a dividend on the Series E Preferred Stock before the dividend payment date for any dividend period, such dividend shall not be cumulative and shall not accrue or be payable, and we will have no obligation to pay dividends for such dividend period, whether or not dividends on the Series E Preferred Stock are declared for any future dividend period. Full Prospectus PDF », Secondary Prospectus PDF », NTRS Page »
Series: | E | Redeemable?: | Yes | Call Date: | 1/1/2025 | Perpetual?: | Yes | Cumulative?: | No | Shares Offered: | 16,000,000 | Liquidation Preference: | $25.00 | Recent Market Price: | $21.00 | Discount to Liquidation Preference: (More Preferreds Trading at a Discount ») | $-4.00 (-16.00%) | Annualized Dividend: | 1.175 | Recent Ex-Date: | 6/14/2024 | Current Yield: | 5.60% | Original Coupon: | 4.70% | Pay Period: | Quarterly | Pay Dates: | 1-Jan, 1-Apr, 1-Jul, 1-Oct | CDx3 Compliance Rating: |
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Northern Trust is a financial holding company. Through its subsidiaries, Co. is a provider of wealth management, asset servicing, asset management and banking solutions. Co.'s segments are: Asset Servicing, which provides asset servicing and related services to corporate and public retirement funds, foundations, endowments, fund managers, insurance companies, sovereign wealth funds, and other institutional investors; and Wealth Management, which provides trust, investment management, custody, and philanthropic services, financial consulting, guardianship and estate administration, family business consulting, family financial education, brokerage services, and private and business banking. Preferreds: NTRSP, NTRSO Open the NTRS Information Page »
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Name: |
Northern Trust Corp |
Website: |
www.northerntrust.com |
Sector: |
Banking & Savings |
Number of ETFs Holding NTRS: |
104 (see which ones) |
Total Market Value Held by ETFs: |
$2,764,177,443.54 |
Total Market Capitalization: |
$16,856,000,000 |
% of Market Cap. Held by ETFs: |
16.40% |
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