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

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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%

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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

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