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Slideshow Preferred Stock Offerings

By Preferred Stock Channel Staff, updated Wednesday, November 25, 2:24 AM

Slide #333. Commerce Bancshares, Inc. Preferred Stock Offering

Company: Commerce Bancshares, Inc. (NASDAQ:CBSH)
Date announced: 6/12/2014
Shares Offered: 6,000,000
Price Per Share: $25
Preferred Stock Offering Details: Commerce Bancshares, Inc. (NASDAQ:CBSH) ("Commerce") today announced the pricing of a public offering of 6,000,000 depositary shares, each representing a 1/1000th interest in its 6.00% Series B non-cumulative perpetual preferred stock, which qualifies as Tier 1 capital. Purchasers of depositary shares will be entitled to all proportional rights and preferences of the Preferred Stock (including dividend, voting, redemption and liquidation rights). The Series B preferred stock has a liquidation preference of $25,000 per share (equivalent to $25.00 per depositary share), or $150 million in the aggregate. The offering is expected to close on June 19, 2014, subject to customary closing conditions.

Commerce Bancshares is a bank holding company. Through its subsidiary, Co. provides a range of retail, mortgage banking, corporate, investment, trust, and asset management products and services. Co.'s operating segments are: Commercial, which provides a range of corporate lending, merchant and commercial bank card products, leasing, and international services; Consumer, which includes the retail branch network, consumer installment lending, personal mortgage banking, and consumer debit and credit bank card activities; and Wealth, which provides trust and estate planning services, brokerage services, and advisory and discretionary investment portfolio management services.

Preferred: CBSHP


Open the CBSH Page at Preferred Stock Channel »

Name:  Commerce Bancshares Inc
Website:  www.commercebank.com
Sector:  Banking & Savings
Number of ETFs Holding CBSH:  73 (see which ones)
Total Market Value Held by ETFs:  $1,277,705,685
Total Market Capitalization:  $7,664,000,000
% of Market Cap. Held by ETFs:  16.67%
 

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