Western Alliance Bancorporation | Reset Rate Non-Cumul Prfd Stock Ser A (WAL.PRA)
Prospectus excerpt: We are offering 12,000,000 depositary shares, each representing a 1/400th ownership interest in a share of our 4.250% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series A, par value $0.0001 per share (the “Series A preferred stock”), with a liquidation preference of $25.00 per depositary share (equivalent to $10,000 per share of Series A preferred stock). As a holder of depositary shares, you will be entitled to all proportional rights and preferences of the Series A preferred stock represented thereby (including dividend, voting, redemption and liquidation rights). Holders of our depositary shares must exercise any such rights through the depositary.
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| Series: | A | | Alternate symbology: | WAL-A, WAL-PA, WALprA | | Redeemable?: | Yes | | Call Date: | 9/30/2026 | | Perpetual?: | Yes | | Cumulative?: | No | | Shares Offered: | 12,000,000 | | Liquidation Preference: | $25.00 | | Recent Market Price: | $23.35 | Discount to Liquidation Preference:
(More Preferreds Trading at a Discount ») | $-1.65 (-6.60%) | | Annualized Dividend: | 1.0625 | | Recent Ex-Date: | 3/13/2026 | | Current Yield: | 4.55% | | Original Coupon: | 4.250% until 9/30/2026, then equal to the sum of the U.S. five-year treasury rate on the applicable fixed rate calculation date plus 3.452%, resetting every 5 years thereafter on applicable fixed rate calculation date | | Pay Period: | Quarterly | | Pay Dates: | 30-Mar, 30-Jun, 30-Sep, 30-Dec | | "Compliance Score" Rating: |
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Western Alliance Bancorporation is a bank holding company. Co. provides a full spectrum of customized loan, deposit, and treasury management capabilities, including funds transfer and other digital payment offerings through its wholly owned banking subsidiary, Western Alliance Bank (WAB). WAB operates through five full-service banking divisions: Alliance Bank of Arizona, Bank of Nevada, Bridge Bank, First Independent Bank, and Torrey Pines Bank. Preferred: WAL.PRA
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