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Zions Bancorporation, N.A. | 9.50% Series C Non-Cumulative Perpetual Preferred Stock (ZB.PRC)

This preferred is marked as having been called.
Prospectus excerpt:  Zions Bancorporation is offering 1,877,971 depositary shares each representing a 1/40th ownership interest in a share of Series C Non-Cumulative Perpetual Preferred Stock, with a liquidation preference of $1,000 per share (equivalent to $25 per depositary share) (the “Series C Preferred Stock”). The depositary shares are represented by depositary receipts. As a holder of depositary shares, you will be entitled to all proportional rights and preferences of the Series C Preferred Stock (including dividend, voting, redemption and liquidation rights). You must exercise such rights through the depositary. The maximum number of depositary shares we expect to sell through the auction or otherwise is 6,000,000.

Dividends on the Series C Preferred Stock will be payable quarterly in arrears when, as, and if declared by our board of directors or a duly authorized committee of the board, out of funds legally available for the payment of dividends, at a fixed rate per annum equal to 9.50%. The dividend payment dates will be the 15th day of March, June, September and December, commencing on September 15, 2008, or the next succeeding business day if any such date is not a business day.

Dividends on the Series C Preferred Stock will be non-cumulative. If our board of directors or a duly authorized committee of the board does not declare a dividend on the Series C Preferred Stock for any dividend period, such dividend will not accrue or be payable, and we will have no obligation to pay dividends for such dividend period, whether or not dividends on the Series C Preferred Stock are declared for any future dividend period.

The Series C Preferred Stock is not redeemable prior to September 15, 2013. The Series C Preferred Stock will not have any voting rights, except as set forth under “Description of Series C Preferred Stock—Voting Rights” on page S-18.

Full Prospectus PDF », ZION Page »

Series:C
Alternate symbology:ZB-C, ZB-PC, ZBprC
Redeemable?:Yes
Call Date:9/15/2013 (Now Trading Post Call Date)
Perpetual?:Yes
Cumulative?:No
Shares Offered:1,877,971
Liquidation Preference:$25
Original Coupon:9.50%
Pay Period:Quarterly
Pay Dates:15-Mar, 15-Jun, 15-Sep, 15-Dec
Zions is a commercial bank. Co. provides a range of banking and related services, primarily in Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. Co. provides community banking services through its main business lines of small and medium-sized business and corporate banking; commercial and residential development, construction and term lending; retail banking; treasury cash management and related products and services; residential mortgage servicing and lending; trust and wealth management; limited capital markets activities, including municipal finance advisory and underwriting; and investment activities.

Preferreds: ZB.PRA, ZB.PRB, ZB.PRC, ZB.PRF, ZB.PRG, ZB.PRH


Open the ZION Information Page »
Name:  Zions Bancorporation, N.A.
Website:  www.zionsbancorporation.com
Sector:  Banking & Savings
Number of ETFs Holding ZION:  78 (see which ones)
Total Market Value Held by ETFs:  $1,126,087,822
Total Market Capitalization:  $8,446,000,000
% of Market Cap. Held by ETFs:  13.33%

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