AL-A Air Lease Corp 6.150% Fixed-to-Floating Rate Non-Cumulative Preferred Series A
We will pay dividends on the Series A Preferred Stock only when, as and if declared by our board of directors. From the date of original issue to, but excluding, March 15, 2024, dividends will be payable at a rate of 6.150% per annum of the stated amount of $25.00 per share (equivalent to an annual rate of $1.5375 per share), payable quarterly, in arrears, on March 15, June 15, September 15 and December 15 of each year, beginning on June 15, 2019. From, and including, March 15, 2024, dividends will be payable at a rate equal to three-month LIBOR plus a spread of 3.650% per annum, reset quarterly, payable quarterly in arrears on March 15, June 15, September 15 and December 15 of each year, beginning on June 15, 2024. Dividends will not be cumulative and will not be mandatory. We may, at our option, redeem the Series A Preferred Stock (i) in whole or in part, from time to time, on or after March 15, 2024, for cash at a redemption price of $25.00 per share, for cash at a redemption price of $25.50 per share, plus any declared and unpaid dividends to, but excluding, the date fixed for redemption, without accumulation of any undeclared dividends. This security was issued by Air Lease Corp, whose common stock symbol is AL.
$22.45 +1.04 (4.86%)
As of 03/27/2023 09:48:46 EST IEX book CBOE book
Security Information
Category1: US Equity
Category2: Preferred stocks
Category3: Non-convertible
GICS sector: Industrials
Industry: Rental & Leasing Services
Index country: USA
Country of incorporation: USA
IPO date: 03/07/2019
Outstanding shares: 10,000,000
Average volume: 8,325
Market cap: $237,000,000
Current dividend yield: 6.49% calculation
Initial coupon rate: 6.150%
Spread to LIBOR: 0.036500
Cumulative: No
Liquidation value: $25.00
Callable after: 03/15/2024
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: BJR4L26