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MetLife Inc | 5.625% Non-Cumulative Preferred Stock, Series E (MET.PRE)
Prospectus excerpt: Each of the 28,000,000 depositary shares offered hereby (the ěDepositary Sharesî) represents a 1/1,000th interest in a share of 5.625% Non-Cumulative Preferred Stock, Series E, $25,000 liquidation preference per share (equivalent to $25 per Depositary Share) (the ěSeries E Preferred Stockî) of MetLife, Inc., deposited with Computershare Inc. and Computershare Trust Company, N.A., collectively, as depositary (the ěDepositaryî). 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 Series E Preferred Stock (including dividend, voting, redemption and liquidation rights). You must exercise these rights through the Depositary. MetLife, Inc. will pay dividends on the Series E Preferred Stock only when, as and if declared by MetLife, Inc.ís 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 from the date of original issue, quarterly in arrears on the 15th day of March, June, September and December of each year, commencing on September 15, 2018. Payment of dividends on the Series E Preferred Stock is subject to certain legal, regulatory and other restrictions as described elsewhere in this prospectus supplement. Distributions will be made in respect of the Depositary Shares if and to the extent dividends are paid on the Series E Preferred Stock. Full Prospectus PDF », Secondary Prospectus PDF », MET Page »
Series: | E | Alternate symbology: | MET-E, MET-PE, METprE | Redeemable?: | Yes | Call Date: | 6/15/2023 (Now Trading Post Call Date) | Perpetual?: | Yes | Cumulative?: | No | Shares Offered: | 28,000,000 | Overallotment: | 4,200,000 | Liquidation Preference: | $25.00 | Recent Market Price: | $23.89 | Discount to Liquidation Preference: (More Preferreds Trading at a Discount ») | $-1.11 (-4.44%) | Annualized Dividend: | 1.40625 | Recent Ex-Date: | 2/28/2024 | Current Yield: | 5.89% | Original Coupon: | 5.625% | Pay Period: | Quarterly | Pay Dates: | 15-Mar, 15-Jun, 15-Sep, 15-Dec | CDx3 Compliance Rating: |
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MetLife is an insurance holding company. Through its subsidiaries and affiliates, Co. is a financial services company, providing insurance, annuities, employee benefits and asset management. Co. is organized into five segments: U.S.; Asia; Latin America; Europe, the Middle East and Africa; and MetLife Holdings. In the U.S., Co. provides a variety of insurance and financial services products, including life, dental, disability, vision, accident and health, capital market investment, risk solutions, stable value and annuities. Outside the U.S., Co. provides life, accident and health and credit insurance, as well as retirement and savings products. Preferreds: MET.PRA, MET.PRB, MET.PRE, MET.PRF Open the MET Information Page »
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