First Internet Bancorp 6.0% Fixed-to-Floating Rate Subordinated Notes due 2029

By: ,

Date Issued 6/5/2019

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Shares Issued  1,400,000     Overallotment Shares  None

S&P Rating   NR   Moodys Rating   NR

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Security Ticker Symbol   INBKZ    

Market Traded ON   NASDAQ

Interest Payment Paid on the 30th of March, June, September and December beginning on 9/30/2019

Quarterly Interest   .375    Annual Interest   1.50

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Interest rate is fixed at 6% until 6/30/2024.  After this date the interest rate will float at a rate of 3 month libor plus 4.114%

Securities may be redeemed, at the issuers option, as early as 6/30/2024  the call price is $25 plus accrued interest

Interest Payment will NOT be Qualified Distributions

Maturity Date   6/30/2029

 

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Company Investor Relations Page for First Internet Bancorp

Click here for the offering Prospectus and/or Final Pricing Document

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Tim McPartland
Tim McPartland is a private investor with over 45 years of investing experience. His analysis, research and writing is devoted to the hunt for income producing securities of all types, but in particular specializing in preferred stocks, exchange traded debt and Master Limited Partnerships.
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