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WesBanco Inc | Rate Reset Non-Cumulative Preferred Stock Series A (WSBCP)
Prospectus excerpt: Each of the 6,000,000 depositary shares offered hereby (the “depositary shares”) represents a 1/40th ownership interest in a share of 6.75% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series A (the “Series A Preferred Stock”), $1,000 liquidation preference per share (equivalent to $25 per depositary share), of Wesbanco, Inc., deposited with Computershare Inc. and Computershare Trust Company, N.A., acting jointly as depositary. The depositary shares are evidenced by depositary receipts. As a holder of depositary shares, you are entitled to all proportional rights and preferences of the Series A Preferred Stock (including dividend, voting, redemption and liquidation rights). You must exercise such rights through the depositary. Holders of Series A Preferred Stock will be entitled to receive dividend payments only when, as and if declared by our board of directors and to the extent that we have legally available funds to pay dividends. Any such dividends will be payable (i) from the date of original issue to, but excluding, November 15, 2025 at a rate equal to 6.75% per annum, in arrears on each of February 15, May 15, August 15 and November 15, commencing November 15, 2020, and (ii) from and including, November 15, 2025, during each reset period, at a rate per annum equal to the five-year treasury rate as of the most recent reset dividend determination date (as described elsewhere in this prospectus supplement) plus 6.557% in arrears on each of February 15, May 15, August 15 and November 15 of each year, beginning on November 15, 2025, except in each case where such day is not a business day. Payment of dividends on the Series A Preferred Stock is subject to certain legal, regulatory and other restrictions as described elsewhere in this prospectus supplement. Full Prospectus PDF », Secondary Prospectus PDF », WSBC Page »
Series: | A | Redeemable?: | Yes | Call Date: | 11/15/2025 | Perpetual?: | Yes | Cumulative?: | No | Shares Offered: | 6,000,000 | Liquidation Preference: | $25.00 | Recent Market Price: | $24.13 | Discount to Liquidation Preference: (More Preferreds Trading at a Discount ») | $-0.87 (-3.48%) | Annualized Dividend: | 1.6875 | Recent Ex-Date: | 4/30/2024 | Current Yield: | 6.99% | Original Coupon: | 6.75% until 11/15/2025, then equal to the sum of the five-year U.S. treasury rate on the applicable fixed rate calculation date plus 6.557%, resetting every 5 years thereafter on applicable fixed rate calculation date | Pay Period: | Quarterly | Pay Dates: | 15-Feb, 15-May, 15-Aug, 15-Nov | CDx3 Compliance Rating: |
Learn WSBCP's Rating
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WesBanco is a bank holding company. Through its subsidiaries, Co. provides a range of financial services including retail banking, corporate banking, personal and corporate trust services, brokerage services, mortgage banking and insurance. Co.'s community banking segment provides services provided by commercial banks, including commercial demand, individual demand and time deposit accounts, as well as commercial, mortgage and individual installment loans, and certain non-traditional offerings, such as insurance and securities brokerage services. The trust and investment services segment provides trust services as well as various alternative investment products including mutual funds. Preferred: WSBCP Open the WSBC Information Page »
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Name: |
WesBanco Inc |
Website: |
www.wesbanco.com |
Sector: |
Banking & Savings |
Number of ETFs Holding WSBC: |
36 (see which ones) |
Total Market Value Held by ETFs: |
$265,445,561 |
Total Market Capitalization: |
$1,679,000,000 |
% of Market Cap. Held by ETFs: |
15.81% |
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