Merchants Bancorp 7.00% Fixed-to-Floating Rate Series A Non-Cumulative Perpetual Preferred Stock

By: ,

Date Issued  3/21/2019

Shares Issued 2,000,000 Overallotment Shares 300,000

S&P Rating NR  Moodys Rating   NR


Security Ticker Symbol   MBINP   OTC Temp Ticker MRBPP

Market Traded On   NASDAQ

Dividend Payment Paid on the 1st of January, April, July and October beginning 7/1/2019

Quarterly Dividend   .4375  Annual Dividend   1.75

On 4/1/2024 the Coupon Rate Floats.  The rate will be 3 month libor plus a spread of 4.605%


Securities may be redeemed, at the issuers option, as early as 04/01/2024 for a redemption price of $25/share plus accrued dividends

Dividend Payment Will Likely be a Qualified Distributions

Maturity Date   None


Click here to find the offering Prospectus and Final Pricing Document

Tim McPartland

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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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