Preferred Stock Channel
Regions Financial Corp (New) | 5.700% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series C (RF.PRC)

Prospectus excerpt:  We are offering 20,000,000 depositary shares each representing a 1/40th ownership interest in a share of our 5.700% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series C, par value $1 per share (“Preferred Stock”), 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 February 15, May 15, August 15 and November 15 of each year, beginning on August 15, 2019. The Preferred Stock will initially bear interest at a fixed rate per annum of 5.700% from the date of issuance to, but excluding, August 15, 2029, and will bear interest thereafter at a floating rate per annum equal to three-month LIBOR on the related dividend determination date (as defined herein) plus 3.148%. 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.

Full Prospectus PDF », RF Page »

Series:C
Alternate symbology:RF-C, RF-PC, RFprC
Redeemable?:Yes
Call Date:5/15/2029
Perpetual?:Yes
Cumulative?:No
Shares Offered:20,000,000
Liquidation Preference:$25
Recent Market Price:$27.25
Premium to Liquidation Preference:
(More Preferreds Trading at a Premium »)
$2.25 (9.00%)
Annualized Dividend:1.425
Recent Ex-Date:1/29/2021
Current Yield:5.23%
Original Coupon:5.70%
Pay Period:Quarterly
Pay Dates:15-Feb, 15-May, 15-Aug, 15-Nov
Regions Financial is a banking holding company. Through its subsidiaries, Co. has the following segments: 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, branch small business loans, indirect loans, consumer credit cards and other consumer loans; and Wealth Management, which provides credit related products, trust and investment management, asset management, retirement and savings solutions and estate planning.

Preferreds: RF.PRZ, RF.PRA, RF.PRB, RF.PRC


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Name:  Regions Financial Corp (New)
Website:  www.regions.com
Sector:  Banking & Savings
Number of ETFs Holding RF:  117 (see which ones)
Total Market Value Held by ETFs:  $3,693,810,353.76
Total Market Capitalization:  $20,280,000,000
% of Market Cap. Held by ETFs:  18.21%

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