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BB&T Corp. | Series F Non-Cumulative Perpetual Preferred Stock (BBT.PRF)

Prospectus excerpt:  BB&T Corporation is offering 18,000,000 depositary shares, each representing a 1/1,000th ownership interest in a share of Series F Non-Cumulative Perpetual Preferred Stock, $5.00 par value per share, with a liquidation preference of $25,000 per share (equivalent to $25 per depositary share) (the “Series F Preferred Stock”). As a holder of depositary shares, you will be entitled to all proportional rights and preferences of the Series F Preferred Stock (including dividend, voting, redemption and liquidation rights). You must exercise such rights through the depositary.

Dividends on the Series F 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, quarterly in arrears on the 1st day of February, May, August and November of each year, commencing on February 1, 2013, at a rate per annum equal to 5.200%. If our board of directors or a duly authorized committee of the board has not declared a dividend on the Series F Preferred Stock before the dividend payment date for any dividend period, such dividend shall not be cumulative and shall not accrue or be payable for such dividend period, and we will have no obligation to pay dividends for such dividend period, whether or not dividends on the Series F Preferred Stock are declared for any future dividend period.

The Series F Preferred Stock may be redeemed at our option in whole, or in part, on November 1, 2017, or any dividend payment date thereafter, at a redemption price equal to $25,000 per share (equivalent to $25 per depositary share), plus any declared and unpaid dividends, without accumulation of any undeclared dividends. The Series F Preferred Stock also may be redeemed at our option in whole, but not in part, upon the occurrence of a “regulatory capital treatment event,” as described herein, at a redemption price equal to $25,000 per share (equivalent to $25 per depositary share), plus any declared and unpaid dividends, without accumulation of any undeclared dividends. The Series F Preferred Stock will not have any voting rights, except as set forth under “Description of Series F Preferred Stock — Voting Rights” on page S-24.

Full Prospectus PDF », BBT Page »

Series:F
Alternate symbology:BBT-F, BBT-PF, BBTprF
Redeemable?:Yes
Call Date:11/1/2017 (Now Trading Post Call Date)
Perpetual?:Yes
Cumulative?:No
Shares Offered:18,000,000
Overallotment:2,000,000
Liquidation Preference:$25
Recent Market Price:$25.24
Premium to Liquidation Preference:
(More Preferreds Trading at a Premium »)
$0.24 (0.96%)
Annualized Dividend:1.3
Recent Ex-Date:8/13/2019
Current Yield:5.15%
Original Coupon:5.20%
Pay Period:Quarterly
Pay Dates:1-Feb, 1-May, 1-Aug, 1-Nov
BB&T is a financial holding company. Through its bank subsidiary, Branch Banking and Trust Company, Co. provides banking services to individuals, businesses and municipalities. Co. provides loans and lease financing, including commercial and residential mortgages; permanent commercial real estate financing arrangements; loan servicing for third-party investors; direct consumer finance loans to individuals; credit card lending; automobile financing; and equipment financing. Co. also provides other services, including deposits; discount and brokerage, annuities and mutual funds; life insurance, property and casualty insurance, health insurance and commercial general liability insurance.

Preferreds: BBT.PRD, BBT.PRE, BBT.PRF, BBT.PRG, BBT.PRH


Open the BBT Information Page »
Name:  BB&T Corp.
Website:  www.bbt.com
Sector:  Banking & Savings
Number of ETFs Holding BBT:  111 (see which ones)
Total Market Value Held by ETFs:  $4,112,384,421
Total Market Capitalization:  $34,815,000,000
% of Market Cap. Held by ETFs:  11.81%

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