TSCBP TriState Capital Holdings ADRs of 6.375% Fixed-to-Floating Rate Series B Non-Cumulative Perpetual Preferred Stock
We will pay dividends on the Series B preferred stock, when, as, and if declared by our board of directors (or a duly authorized committee of our board of directors). Dividends will accumulate and be payable from the original date of issuance to, but excluding, July 1, 2026 at a rate of 6.375% per annum, payable quarterly, in arrears, on January 1, April 1, July 1 and October 1 of each year, beginning on July 1, 2019. From, and including, July 1, 2026, dividends will accumulate and be payable at a floating rate equal to three-month LIBOR plus a spread of 408.8 basis points per annum, subject to potential adjustment as provided in clause (iii) of the definition of three-month LIBOR, payable quarterly, in arrears, on January 1, April 1, July 1 and October 1 of each year, beginning on October 1, 2026. We may redeem the Series B preferred stock at our option, subject to regulatory approval, at a redemption price equal to $25 per depositary share, plus any declared and unpaid dividends (without regard to any undeclared dividends) to, but excluding, the redemption date, (i) in whole or in part, from time to time, on any Dividend Payment Date on or after July 1, 2024 or (ii) in whole, but not in part, at any time within 90 days following a Regulatory Capital Treatment Event. If we redeem the Series B preferred stock, the depositary is expected to redeem a proportionate number of depositary shares. This security was issued by Tristate Capital Holdings Inc, whose common stock symbol is TSC.
$24.54 0.00 (0.00%)
As of 05/31/2022 00:00:00 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: 05/30/2019
Outstanding shares: 2,800,000
Average volume: 9,527
Market cap: $68,712,000
Current dividend yield: 6.49% calculation
Initial coupon rate: 6.375%
Spread to LIBOR: 0.040880
Cumulative: No
Liquidation value: $25.00
Callable after: 07/01/2024
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: