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Synchrony Financial | Dep Shares Rep 8.250% Fixed Rate Reset Non-Cumulative Perpetual Preferred Stock, Series B (SYFB)
Prospectus excerpt: We are offering depositary shares, each representing a 1/40th ownership interest in a share of our 8.250% Fixed Rate Reset Non-Cumulative Perpetual Preferred Stock, Series B, par value $0.001 per share (the “Series B Preferred Stock”), with a liquidation preference of $25 per depositary share (equivalent to $1,000 per share of Series B Preferred Stock). As a holder of depositary shares, you will be entitled to all proportional rights and preferences of the Series B Preferred Stock represented thereby (including dividend, voting, redemption and liquidation rights). You must exercise any such rights through the depositary. We will pay dividends on the Series B Preferred Stock, when, as, and if declared by our Board of Directors (or a duly authorized committee thereof), to the extent that we have lawfully available funds to pay dividends, quarterly in arrears on February 15, May 15, August 15, and November 15 of each year, beginning on May 15, 2024. Full Prospectus PDF », Secondary Prospectus PDF », SYF Page »
Series: | B | Redeemable?: | Yes | Call Date: | 5/15/2029 | Perpetual?: | Yes | Cumulative?: | No | Shares Offered: | 20,000,000 | Overallotment: | 3,000,000 | Liquidation Preference: | $25.00 | Original Coupon: | 8.25% | Pay Period: | Quarterly | Pay Dates: | 15-Feb, 15-May, 15-Aug, 15-Nov | CDx3 Compliance Rating: |
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Synchrony Financial is a savings and loan holding company and financial holding company. Through its subsidiaries, Co. provides a range of credit products through programs it has established with a group of national and regional retailers, local merchants, manufacturers, buying groups, industry associations and healthcare service providers, which it refers to as its partners. Co.'s capabilities and scale encompass a spectrum of industries, including digital, health and wellness, retail, telecommunications, home, auto, outdoor, pet and more. Co. conducts its operations through a single segment. Co. provides its credit products primarily through its wholly-owned subsidiary, Synchrony Bank. Preferreds: SYF.PRA, SYFB Open the SYF Information Page »
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