Annaly Capital Management 6.75% Series I Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock
By: Tim McPartland,
Date Issued 6/20/2019
Shares Issued 16,000,000 Overallotment Shares 2,400,000
Security Ticker Symbol NLY-I OTC Temp Ticker – ACAXP
Market Traded On NYSE
Dividend Payment Paid on the last day March, June, September and December beginning on 9/30/2019
Quarterly Dividend .4219 Annual Dividend 1.6875
Beginning 6/30/2024 the coupon will float at the rate of 3 month Libor plus a fixed spread of 4.989%
Securities may be redeemed, at the issuers option, as early as 3/30/2024 for a redemption price of $25/share plus accrued dividends.
Dividend Payment Will NOT BE a Qualified Distribution–preferred stock of REITs do not pay qualified dividends.
Maturity Date None