Preferred Stock Channel
Rithm Capital Corp | 7.125% Series B Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock (RITM.PRB)

Prospectus excerpt:  We are offering 10,000,000 shares of our 7.125% Series B Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, $0.01 par value per share, with a liquidation preference of $25.00 per share (the “Series B Preferred Stock”) by this prospectus supplement and the accompanying prospectus. Holders of the Series B Preferred Stock will be entitled to receive cumulative cash dividends (i) from and including the original issue date to, but excluding, August 15, 2024 at a fixed rate equal to 7.125% per annum of the $25.00 per share liquidation preference (equivalent to $1.78125 per annum per share) and (ii) from and including August 15, 2024, at a floating rate per annum equal to three-month LIBOR plus a spread of 5.640% per annum. Dividends will be payable quarterly in arrears on or about the 15th day of February, May, August and November of each year, when and as declared, beginning on November 15, 2019. Dividends will accumulate and be cumulative from, and including, the original issue date of the Series B Preferred Stock.

Full Prospectus PDF », RITM Page »

Alternate symbology:RITM-B, RITM-PB, RITMprB
Call Date:8/15/2024
Shares Offered:10,000,000
Liquidation Preference:$25
Recent Market Price:$19.10
Discount to Liquidation Preference:
(More Preferreds Trading at a Discount »)
$-5.90 (-23.60%)
Annualized Dividend:1.78125
Recent Ex-Date:4/13/2023
Current Yield:9.33%
Original Coupon:7.13%
Pay Period:Quarterly
Pay Dates:15-Feb, 15-May, 15-Aug, 15-Nov
CDx3 Compliance Rating: Learn RITM.PRB's Rating
Rithm Capital is a holding company. Through its subsidiaries, Co. is an investment manager with a vertically integrated mortgage platform. Co.'s portfolio is composed of mortgage servicing rights (MSR), mortgage origination and servicing companies (including ancillary mortgage services businesses), residential mortgage-backed securities, properties and loans, consumer loans, and other investments. Co. is externally managed and advised by an affiliate of Fortress Investment Group LLC. Co. conducts its business in six segments: Origination, Servicing, MSR Related Investments, Residential Securities, Properties and Loans, Consumer Loans, and Mortgage Loans.

Preferreds: RITM.PRA, RITM.PRB

Open the RITM Information Page »
Name:  Rithm Capital Corp
Sector:  REITs
Number of ETFs Holding RITM:  36 (see which ones)
Total Market Value Held by ETFs:  $457,714,241.46
Total Market Capitalization:  $3,671,000,000
% of Market Cap. Held by ETFs:  12.47%

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