Valley National Bancorp 5.50% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series B
By: Tim McPartland,
Date Issued 7/27/2017
Shares Issued 7,000,000 Overallotment Shares 600,000
S&P Rating BB+ Moodys Rating NR
Security Ticker Symbol VLY-B OTC Temp Ticker VLYYP
Market Traded On NYSE
Dividend Payment Paid on the 30th of March, June, September and December beginning on 9/30/2017
Quarterly Dividend .344 Annual Dividend 1.375
Beginning 9/30/2022 the coupon will float at the rate of 3 month Libor plus a fixed base of 3.578%
Securities may be redeemed, at the issuers option, as early as 9/30/2022 for a redemption price of $25/share plus accrued dividends.
Dividend Payment Will BE a Qualified Distribution
Dividends will not be cumulative.
Maturity Date None