NYMTM New York Mortgage Trust, Inc. - 7.875% Series E Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock

Investors will be entitled to receive cumulative cash dividends (i) from and including the original issue date to, but excluding, January 15, 2025 at a fixed rate equal to 7.875% per annum of the $25.00 per share liquidation preference (equivalent to $1.96875 per annum per share) and (ii) from and including January 15, 2025 at a floating rate equal to three-month LIBOR plus a spread of 6.429% per annum of the $25.00 per share liquidation preference. Dividends will be payable quarterly in arrears on or about the 15th day of January, April, July and October of each year, when and as declared, beginning on January 15, 2020 (short first dividend period). Dividends will accumulate and be cumulative from, and including, the date of original issuance of the Series E Preferred Stock. The Series E Preferred Stock is not redeemable by us prior to January 15, 2025, except under circumstances where it is necessary to preserve our qualification as a real estate investment trust, or REIT, for U.S. federal income tax purposes and except as described below upon the occurrence of a Change of Control (as defined herein). On or after January 15, 2025, we may, at our option, upon not less than 30 nor more than 60 days' notice and subject to certain procedural requirements, redeem any or all of the shares of the Series E Preferred Stock for cash at a redemption price of $25.00 per share, plus any accumulated and unpaid dividends thereon (whether or not authorized or declared) to, but excluding, the redemption date, without interest.   This security was issued by New York Mortgage Trust Inc , whose common stock symbol is NYMT.

$25.63  -0.02 (-0.08%)
As of 10/19/2021 16:00:00 EST     IEX book   CBOE book


Security Information
Category1:  US Equity
Category2:  Preferred stocks
Category3:  Non-convertible
GICS sector:  Financials
Industry:  REIT—Mortgage
Index country:  USA
Country of incorporation:  USA
IPO date:  10/18/2019
Outstanding shares:  6,000,000
Average volume:  13,884
Market cap:   $153,780,000
Current dividend yield:  7.68%    calculation
Initial coupon rate:    7.875%
Spread to LIBOR: 0.064290
Cumulative:    Yes
Liquidation value:   $25.00
Callable after:   01/15/2025
Maturity date:    n/a - perpetual
Prospectus:    Read on SEC.gov
All SEC filings:     SEC Edgar Online
Quarterly filings:   10-Q
Annual filings:      10-K
CUSIP:    649604873
ISIN:        US6496048736
Sedol:      BKVHQL2

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