CNOBP ConnectOne Bancorp ADRs of 5.25% Fixed-Rate Reset Non-Cumulative Preferred, Series A
We will pay dividends on the Series A Preferred Stock, when, as, and if declared by our board of directors or a duly authorized committee of our board of directors, to the extent that we have lawfully available funds to pay dividends. If declared, dividends will accrue and be payable, quarterly in arrears, (i) from and including the date of original issuance to, but excluding September 1, 2026 (the “First Reset Date”) or the date of earlier redemption, at a rate of 5.25% per annum, on March 1, June 1, September 1 and December 1 of each year, commencing on December 1, 2021, and (ii) from and including September 1, 2026, 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 plus 4.42%, on March 1, June 1, September 1 and December 1 of each year, beginning on September 1, 2026, except in each case where such day is not a business day. Dividends on the Series A Preferred Stock will not be cumulative. We may redeem the Series A Preferred Stock at our option, and subject to any required regulatory approval, (i) in whole or in part, from time to time, on September 1, 2026 or on any dividend payment date on or after September 1, 2026 at a redemption price equal to $1,000 per share (equivalent to $25 per depositary share), plus any declared and unpaid dividends, without accumulation of any undeclared and unpaid dividends, to, but excluding, the redemption date, or (ii) in whole but not in part, at any time within 90 days following a regulatory capital treatment event (as defined herein), at a redemption price equal to $1,000 per share (equivalent to $25 per depositary share), plus any declared and unpaid dividends, without accumulation of any undeclared and unpaid dividends, to, but excluding, the redemption date. This security was issued by Connectone Bancorp Inc, whose common stock symbol is CNOB.
$15.44 +0.19 (1.21%)
As of 03/27/2023 11:38:21 EST IEX book CBOE book
Security Information
Category1: US Equity
Category2: Preferred stocks
Category3: Non-convertible
GICS sector: Financials
Industry: Banks-Regional
Index country: USA
Country of incorporation: USA
IPO date: 08/13/2021
Outstanding shares: 4,000,000
Average volume: 22,872
Market cap: $59,520,000
Current dividend yield: 8.82% calculation
Initial coupon rate: 5.250%
Cumulative: No
Liquidation value: $25.00
Callable after: 09/01/2026
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: