Valley National Bancorp 6.25% Fixed to Floating Rate Non Cumulative Perpetual Preferred Stock Series A

By: ,

Date Issued  6-16-2015

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Shares Issued    4,600,000    Overallotment Shares    None

S&P Rating   BB+   Moodys Rating   NR

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Security Ticker Symbol   VLY-A   OTC Temporary Ticker  VLNBP

Market Traded ON   NYSE

Dividend Payment Paid on the 30th of March, June, September and December beginning on 09/30/2015

Quarterly Dividend   .391   Annual Dividend   1.5625

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From 6/30/2025 until the redemption date the dividend rate will be at a floating rate of 3.85% plus 3 month libor. 

Securities may be redeemed, at the issuers option, as early as 06/30/2025 for a redemption price of $25/share plus accrued dividends

Dividend Payment Will Likely be a Qualified Distribution

Maturity Date   None

 

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Company Investor Relations Page for Valley National Bancorp

Below you can 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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