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Regions Financial Corp (New) | 6.375% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series B (RF.PRB)
Prospectus excerpt: We are offering 20,000,000 depositary shares each representing a 1/40th ownership interest in a share of our 6.375% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series B, par value $1 per share (ÙPreferred Stockˆ), with a liquidation preference of $1,000 per share of Preferred Stock (equivalent to $25 per depositary share). As a holder of depositary shares, you will be entitled to all proportional rights and preferences of the Preferred Stock (including dividend, voting, redemption and liquidation rights). You must exercise these rights through the depositary. We will pay dividends on the Preferred Stock, when, as, and if declared by our board of directors (or a duly authorized committee of our board of directors). Dividends will accrue and be payable from the date of issuance quarterly in arrears, on March 15, June 15, September 15 and December 15 of each year, beginning on September 15, 2014. The Preferred Stock will initially bear interest at a fixed rate per annum of 6.375% from the date of issuance to, but excluding, September 15, 2024, and will bear interest thereafter at a floating rate per annum equal to three-month LIBOR on the related LIBOR determination date (as defined herein) plus 3.536%. Upon payment of any dividends on the Preferred Stock, holders of depositary shares are expected to receive a proportionate payment. Dividends on the Preferred Stock will not be cumulative and will not be mandatory. We may redeem the Preferred Stock at our option, subject to regulatory approval, at a redemption price equal to $1,000 per share (equivalent of $25 per depositary share), plus any declared and unpaid dividends (without regard to any undeclared dividends) to but excluding the redemption date, (1) in whole or in part, from time to time, on any dividend payment date (as defined herein) on or after September 15, 2024 or (2) in whole but not in part, at any time following a regulatory capital treatment event (as defined herein). If we redeem the Preferred Stock, the depositary is expected to redeem a proportionate number of depositary shares. The Preferred Stock will not have any voting rights except as described elsewhere in the prospectus supplement. Full Prospectus PDF », Secondary Prospectus PDF », RF Page »
Series: | B | Alternate symbology: | RF-B, RF-PB, RFprB | Redeemable?: | Yes | Call Date: | 9/15/2024 | Perpetual?: | Yes | Cumulative?: | No | Shares Offered: | 20,000,000 | Liquidation Preference: | $25.00 | Recent Market Price: | $24.83 | Discount to Liquidation Preference: (More Preferreds Trading at a Discount ») | $-0.17 (-0.68%) | Annualized Dividend: | 1.593752 | Recent Ex-Date: | 6/3/2024 | Current Yield: | 6.42% | Original Coupon: | Fixed rate per annum of 6.375% from the date of issuance to, but excluding, September 15, 2024, and will bear interest thereafter at a floating rate per annum equal to three-month LIBOR on the related LIBOR determination date (as defined herein) plus 3.536% | Pay Period: | Quarterly | Pay Dates: | 15-Mar, 15-Jun, 15-Sep, 15-Dec | CDx3 Compliance Rating: |
Learn RF.PRB's Rating
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Regions Financial is a banking holding company. Through its subsidiaries, Co. provides financial solutions for its clients. Co.'s segments are: Corporate Bank, which represents its commercial banking functions including commercial and industrial, commercial real estate and investor real estate lending; Consumer Bank, which represents its branch network, including consumer banking products and services related to residential first mortgages, home equity lines and loans, consumer credit cards and other consumer loans; and Wealth Management, which provides individuals, businesses, governmental institutions and non-profit entities a range of solutions to help protect, grow and transfer wealth. Preferreds: RF.PRZ, RF.PRA, RF.PRB, RF.PRC, RF.PRE Open the RF Information Page »
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Name: |
Regions Financial Corp (New) |
Website: |
www.regions.com |
Sector: |
Banking & Savings |
Number of ETFs Holding RF: |
122 (see which ones) |
Total Market Value Held by ETFs: |
$3,774,378,150.66 |
Total Market Capitalization: |
$17,780,000,000 |
% of Market Cap. Held by ETFs: |
21.23% |
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