AEL-A American Equity Investment Life ADRs of 5.95% Fixed-Rate Reset Non-Cumulative Preferred, Series A
Any dividends will be payable on a non-cumulative basis quarterly in arrears on the first day of March, June, September and December of each year, commencing on March 1, 2020. Dividends will accrue (i) from the date of original issue to, but excluding, December 1, 2024 at a fixed rate per annum of 5.95% and (ii) from, and including, December 1, 2024, during each reset period, at a rate per annum equal to the Five-year U.S. Treasury Rate (as defined herein) as of the most recent reset dividend determination date plus 4.322%. 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. We may, at our option, redeem the Series A Preferred Stock (a) in whole or in part, from time to time, on or after December 1, 2024, at a redemption price equal to $25.00 per Depositary Share, plus an amount equal to any declared but unpaid dividends and the portion of the quarterly dividend per share attributable to the then-current dividend period that has not been declared and paid to, but excluding, such redemption date, (b) in whole but not in part, at any time prior to December 1, 2024 within 90 days after the occurrence of a "rating agency event," at a redemption price equal to $25.50 per Depositary Share, plus an amount equal to any declared but unpaid dividends and the portion of the quarterly dividend per share attributable to the then-current dividend period that has not been declared and paid to, but excluding, such redemption date and (c) in whole but not in part, at any time prior to December 1, 2024 within 90 days after the occurrence of a "regulatory capital event," at a redemption price equal to $25.00 per Depositary Share, plus an amount equal to any declared but unpaid dividends and the portion of the quarterly dividend per share attributable to the then-current dividend period that has not been declared and paid to, but excluding, such redemption date. This security was issued by American Equity Investment Life Holding, whose common stock symbol is AEL.
$24.48 +0.58 (2.43%)
As of 01/26/2023 15:59:37 EST IEX book CBOE book
Security Information
Category1: US Equity
Category2: Preferred stocks
Category3: Non-convertible
GICS sector: Financials
Industry: Insurance—Life
Index country: USA
Country of incorporation: USA
IPO date: 11/27/2019
Outstanding shares: 16,000,000
Average volume: 6,644
Market cap: $367,040,000
Current dividend yield: 6.48% calculation
Initial coupon rate: 5.950%
Cumulative: No
Liquidation value: $25.00
Callable after: 12/01/2024
Maturity date: n/a - perpetual
Prospectus: Read on SEC.gov
All SEC filings: SEC Edgar Online
Quarterly filings: 10-Q
Annual filings: 10-K
Sedol: BL4Q3H8