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WAL-A Western Alliance Bancorporation ADRs of 4.250% Fixed-Rate Reset Non-Cumulative Preferred, Series A

If declared, dividends will accrue and be payable, quarterly in arrears, (i) from and including the date of original issuance to, but excluding September 30, 2026 (the “First Reset Date”) or the date of earlier redemption, at a rate of 4.250% per annum, on March 30, June 30, September 30 and December 30 of each year, commencing on December 30, 2021, and (ii) from and including September 30, 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 3.452%, on March 30, June 30, September 30, and December 30 of each year, beginning on September 30, 2026, except in each case where such day is not a business day. 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 30, 2026 or on any dividend payment date on or after September 30, 2026 at a redemption price equal to $10,000 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 Western Alliance, whose common stock symbol is WAL.

$13.00  +0.96 (7.97%)
As of 03/27/2023 11:03:15 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:  09/22/2021
Outstanding shares:  12,000,000
Average volume:  6,900
Market cap:   $268,680,000
Current dividend yield:  4.74%    calculation
Initial coupon rate:    4.250%
Cumulative:    No
Liquidation value:   $25.00
Callable after:   09/30/2026
Maturity date:    n/a - perpetual
Prospectus:    Read on SEC.gov
All SEC filings:     SEC Edgar Online
Quarterly filings:   10-Q
Annual filings:      10-K

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