Synovus Financial Corp 5.875% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series E

By: ,

Date Issued  6/24/2019

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Shares Issued  14,000,000    Overallotment Shares   0

Security Ticker Symbol   SNV-E

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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.

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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

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Click Here to find the offering Prospectus and 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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