Preferred Stock Channel
American Equity Investment Life Holding Co | 5.95% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series A (AEL.PRA)

Prospectus excerpt:  Each of the 16,000,000 depositary shares offered hereby (the "Depositary Shares") represents a 1/1,000th interest in a share of 5.95% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series A, $25,000 liquidation preference per share (equivalent to $25.00 per Depositary Share) of American Equity Investment Life Holding Company (the "Series A Preferred Stock"), deposited with Computershare Inc. and Computershare Trust Company, N.A., acting jointly, as depositary (collectively, the "Depositary"). The Depositary Shares are evidenced by depositary receipts. As a holder of Depositary Shares, you are entitled to a proportional fractional interest in all rights and preferences of the shares of Series A Preferred Stock represented thereby (including dividend, voting, redemption and liquidation rights). You must exercise these rights through the Depositary. Holders of Series A Preferred Stock will be entitled to receive dividend payments only when, as and if declared by our board of directors (or a duly authorized committee of the board), out of funds legally available for the payment of dividends. Any such dividends will be payable on a non-cumulative basis quarterly in arrears on the first day of March, June, September and December of each year, commencing on March 1, 2020. Dividends will accrue on the stated amount of $25,000 per share of Series A Preferred Stock (equivalent to $25.00 per Depositary Share) (i) from the date of original issue to, but excluding, December 1, 2024 at a fixed rate per annum of 5.95% and (ii) from, and including, December 1, 2024, during each reset period, at a rate per annum equal to the Five-year U.S. Treasury Rate (as defined herein) as of the most recent reset dividend determination date (as described elsewhere in this prospectus supplement) plus 4.322%. Payment of dividends on the Series A Preferred Stock is subject to certain legal, regulatory and other restrictions as described elsewhere in this prospectus supplement.

Full Prospectus PDF », Secondary Prospectus PDF », AEL Page »

Series:A
Alternate symbology:AEL-A, AEL-PA, AELprA
Redeemable?:Yes
Call Date:12/1/2024
Perpetual?:Yes
Cumulative?:No
Shares Offered:16,000,000
Liquidation Preference:$25.00
Recent Market Price:$24.23
Discount to Liquidation Preference:
(More Preferreds Trading at a Discount »)
$-0.77 (-3.08%)
Annualized Dividend:1.4875
Recent Ex-Date:2/14/2024
Current Yield:6.14%
Original Coupon:5.95%
Pay Period:Quarterly
Pay Dates:1-Mar, 1-Jun, 1-Sep, 1-Dec
CDx3 Compliance Rating: Learn AEL.PRA's Rating
American Equity Investment Life Holding is a holding company. Co. is engaged in the development and sale of fixed index and fixed rate annuity products. Co. issues fixed annuity products through its subsidiaries, American Equity Investment Life Insurance Company, American Equity Investment Life Insurance Company of New York and Eagle Life Insurance Company. Co.'s products include: Fixed Index Annuities, which allow policyholders to earn index credits based on the performance of a particular index without the risk of loss of their account value; and Fixed Rate Annuities, which include annual, multi-year rate guaranteed products and single premium deferred annuities.

Preferreds: AEL.PRA, AEL.PRB


Open the AEL Information Page »
Name:  American Equity Investment Life Holding Co
Website:  www.american-equity.com
Sector:  Life & Health Insurance
Number of ETFs Holding AEL:  48 (see which ones)
Total Market Value Held by ETFs:  $960,494,564.1
Total Market Capitalization:  $4,454,000,000
% of Market Cap. Held by ETFs:  21.56%

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