Preferred Stock Channel
Pitney Bowes Inc | 6.70% Notes Due 2043 (PBI.PRB)

Prospectus excerpt:  Pitney Bowes is offering $375,000,000 aggregate principal amount of its 6.70% Notes due 2043. Pitney Bowes will pay interest on the notes at a rate equal to 6.70% per year and will pay such interest quarterly on March 7, June 7, September 7 and December 7 of each year, commencing June 7, 2013. The notes mature on March 7, 2043. However, Pitney Bowes may redeem some or all of the notes at any time or from time to time on or after March 7, 2018 at a redemption price equal to 100% of the principal amount of the notes, plus accrued and unpaid interest, if any, on the notes to be redeemed to the date of redemption. Pitney Bowes may redeem some or all of the notes at any time or from time to time before March 7, 2018 at a redemption price equal to 100% of the principal amount of the notes, plus accrued and unpaid interest, if any, on the notes to be redeemed to the date of redemption, plus a make-whole amount, if any, as described under ÙDescription of the Notes?Optional Redemptionˆ. If a change of control triggering event occurs, unless we have exercised our option to redeem the notes, we will be required, subject to certain exceptions, to make an offer to each holder of notes to repurchase all or any part of that holder?s notes for cash equal to 101% of the principal amount of notes to be repurchased, plus accrued and unpaid interest, if any, on the notes to be repurchased to the date of repurchase.

Full Prospectus PDF », Secondary Prospectus PDF », PBI Page »

Alternate symbology:PBI-B, PBI-PB, PBIprB
Redeemable?:Yes
Call Date:3/7/2018 (Now Trading Post Call Date)
Maturity Date:3/7/2043
Cumulative?:Yes
Shares Offered:15,000,000
Overallotment:2,000,000
Liquidation Preference:$25.00
Recent Market Price:$18.65
Discount to Liquidation Preference:
(More Preferreds Trading at a Discount »)
$-6.35 (-25.40%)
Annualized Dividend:1.675
Recent Ex-Date:2/20/2024
Current Yield:8.98%
Original Coupon:6.70%
Pay Period:Quarterly
Pay Dates:7-Mar, 7-Jun, 7-Sep, 7-Dec
CDx3 Compliance Rating: Learn PBI.PRB's Rating
Pitney Bowes is a global shipping and mailing company that provides technology, logistics, and financial services. Co.'s reportable segments are Global Ecommerce, Presort Services and SendTech Solutions. Co.'s Global Ecommerce segment operates various domestic parcel sortation centers connected by a nationwide transportation network, enabling Co. to pick up parcels from retailer distribution centers and move them through its physical network. Co.'s Presort Services segment provides mail sortation services. Co.'s Sending Technology Solutions segment provides with physical and digital mailing and shipping technology solutions and other applications.

Preferreds: PBI.PRA, PBI.PRB, PBOWN


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Name:  Pitney Bowes Inc
Website:  www.pitneybowes.com
Sector:  Office Supplies
Number of ETFs Holding PBI:  40 (see which ones)
Total Market Value Held by ETFs:  $152,284,444.16
Total Market Capitalization:  $748,000,000
% of Market Cap. Held by ETFs:  20.36%

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