Synovus Financial Corp 5.875% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series E
By: Tim McPartland,
Date Issued 6/24/2019
Shares Issued 14,000,000 Overallotment Shares 0
Security Ticker Symbol SNV-E
Market Traded ON NYSE
Dividend Payment Paid on the 1st of January, April, July and December beginning on 10/1/2019
Dividend .367 Annual Dividend 1.469
Coupon will be fixed until 7/1/2024 after which it will reset to the 5 year treasury plus a spread of 4.127%. It will reset every 5 years thereafter.
Securities may be redeemed, at the issuers option, as early as 07/1/2024 for a redemption price of $25/share plus accrued dividends
Dividend Payment Likely Will be a Qualified Distributions
Maturity Date None
Company Investor Relations Page for Synovus Financial
Click Here to find the offering Prospectus and Final Pricing Document
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