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Raymond James Financial, Inc. | 6.75% Dep Sh Fix/Float Ser A Non-Cumul Perp Pfd Stock (RJF.PRA)
Prospectus excerpt: We are offering 1,400,000 depositary shares each representing a 1/40th ownership interest in a share of our 6.75% Fixed-to-Floating Rate Series A Non-Cumulative Perpetual Preferred Stock, no par value (“Series A preferred stock”), with a liquidation preference of $1,000 per share of Series A preferred stock (equivalent to $25 per depositary share). As a holder of depositary shares, you will be entitled to all rights and preferences of the Series A preferred stock (including dividend, voting, redemption and liquidation rights) in proportion to your investment in the underlying shares of Series A preferred stock. You must exercise these rights through the depositary. We will pay dividends on the Series A preferred stock, when, as, and if declared by our board of directors (or a duly authorized committee of our board of directors). Dividends will accumulate and be payable from the original date of issuance to, but excluding, April 1, 2023, at a rate of 6.75% per annum, payable quarterly, in arrears, on January 1, April 1, July 1 and October 1 of each year, beginning on July 1, 2018. From, and including, April 1, 2023, dividends will accumulate and be payable at a floating rate equal to three-month LIBOR (as defined herein) plus a spread of 398.5 basis points per annum, payable quarterly, in arrears, on January 1, April 1, July 1 and October 1 of each year, beginning on July 1, 2023. Upon payment of any dividends on the Series A preferred stock, holders of depositary shares are expected to receive such dividends in proportion to their investment in the depositary shares representing such Series A preferred stock. Full Prospectus PDF », Secondary Prospectus PDF », RJF Page »
Series: | A | Alternate symbology: | RJF-A, RJF-PA, RJFprA | Redeemable?: | Yes | Call Date: | 4/3/2023 (Now Trading Post Call Date) | Perpetual?: | Yes | Cumulative?: | No | Shares Offered: | 1,400,000 | Overallotment: | 210,000 | Liquidation Preference: | $25.00 | Original Coupon: | 6.75% Fixed until 4/1/2023, then dividends will accumulate and be payable at a floating rate equal to three-month LIBOR plus a spread of 398.5 basis points per annum, only when, as and if declared. In the case that the three-month LIBOR rate is less than zero then the three-month LIBOR rate shall be deemed to be zero | Pay Period: | Quarterly | Pay Dates: | 1-Jan, 1-Apr, 1-Jul, 1-Oct | CDx3 Compliance Rating: |
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Raymond James Financial is a bank holding company and financial holding company. Through its subsidiaries, Co. is engaged in various financial services activities. Co. has five segments: Private Client Group, which provides financial planning, investment advisory and securities transaction services; Capital Markets, which conducts investment banking, institutional sales, securities trading, equity research, and the syndication and management of investments; Asset Management, which provides asset management, portfolio management and related administrative services; Bank, which consists of Raymond James Bank, Fed member bank, and TriState Capital Bank; and Other. Preferreds: RJF.PRA, RJF.PRB Open the RJF Information Page »
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Name: |
Raymond James Financial, Inc. |
Website: |
www.raymondjames.com |
Sector: |
Investment Brokerages |
Number of ETFs Holding RJF: |
89 (see which ones) |
Total Market Value Held by ETFs: |
$3,574,867,536.76 |
Total Market Capitalization: |
$26,576,000,000 |
% of Market Cap. Held by ETFs: |
13.45% |
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