FITBI Fifth Third Bancorp ADRs of 6.625% Fixed-to-Floating Rate Non-Cumulative Preferred Series I
Commencing on December 9, 2013 through, but excluding December 31, 2023 (the “Fixed Rate Period”), dividends on the Series I Preferred Stock will accrue, on a non-cumulative basis, at an annual rate of 6.625%. For the Fixed Rate Period, dividends on the liquidation preference of $25,000 per share of Series I Preferred Stock will be payable, when, as and if declared by our board of directors, quarterly in arrears on each March 31, June 30, September 30 and December 31, beginning on March 31, 2014 to and including December 31, 2023. Commencing on December 31, 2023 and continuing for so long as any shares of Series I Preferred Stock remain outstanding (the “Floating Rate Period”), dividends on the Series I Preferred Stock will accrue, on a non-cumulative basis, at an annual rate equal to three-month LIBOR, reset quarterly, plus 3.71%. For the Floating Rate Period, dividends on the liquidation preference of $25,000 per share of Series I Preferred Stock will be payable, when, as and if declared by our board of directors, quarterly in arrears on March 31, June 30, September 30 and December 31 of each year, beginning on March 31, 2024. On or after December 31, 2023, we may redeem the Series I Preferred Stock and the related Depositary Shares, in whole or in part, at 100% of their liquidation preference, plus an amount equal to any declared and unpaid dividends, without accumulation of any undeclared dividends. This security was issued by Fifth Third Bancorp, whose common stock symbol is FITB.
$23.46 +0.70 (3.08%)
As of 03/27/2023 12:25:53 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: 12/06/2013
Outstanding shares: 18,000,000
Average volume: 101,791
Market cap: $425,880,000
Current dividend yield: 7.00% calculation
Initial coupon rate: 6.625%
Spread to LIBOR: 0.037100
Cumulative: No
Liquidation value: $25.00
Callable after: 12/31/2023
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: BH58353