|
National General Holdings Corp., 7.625% Subordinated Notes due 9/15/2055
Ticker Symbol: NGHCZ* CUSIP: 636220873 Exchange: NGM
* NOTE: This security is no longer trading as of 2/03/2021
Security has been Called for: Wednesday, February 3, 2021
January 4, 2021 -- National General Holdings Corp. (Nasdaq: NGHC) (“National General” or the “Company”), a wholly owned subsidiary of The Allstate Corporation, today delivered notices of redemption to, on February 3, 2021 (the “Redemption Date”), redeem in full:
all of the issued and outstanding shares of its 7.50% Non-Cumulative Preferred Stock, Series A (par value $0.01 per share) (CUSIP No.: 636220709) (collectively, the “Class A Preferred Stock”), at a redemption price equal to $25.00 per share plus declared and unpaid dividends on the shares of Class A Preferred Stock called for redemption for prior dividend periods, if any, plus accrued but unpaid dividends (whether or not declared) thereon for the then-current dividend period, to, but excluding, the Redemption Date, without accumulation of any other undeclared dividends;
all of the issued and outstanding Depositary Shares, Representing 1/40th of a Share of its 7.50% Non-Cumulative Preferred Stock, Series B (CUSIP No.: 636220808) (collectively, the “Class B Depositary Shares”) and the underlying 7.50% Non-Cumulative Preferred Stock, Series B (par value $0.01 per share) (CUSIP No.: 636220881) (collectively, the “Class B Preferred Stock”), at a redemption price equal to $25.00 per Class B Depositary Share (or, as applicable $1,000 per share of Class B Preferred Stock) plus declared and unpaid dividends on the Class B Depositary Shares (or shares of Class B Preferred Stock, as applicable) called for redemption for prior dividend periods, if any, plus accrued but unpaid dividends (whether or not declared) thereon for the then-current dividend period, to, but excluding, the Redemption Date, without accumulation of any other undeclared dividends; and
the aggregate outstanding principal amount of its 7.625% Subordinated Notes Due 2055 (the “2055 Notes”), in increments of $25 aggregate principal amount of the 2055 Notes, at a redemption price equal to 100% of the principal amount of the 2055 Notes being redeemed plus accrued but unpaid interest to, but not including, the Redemption Date (collectively, the “Redeemed Securities”).
|
QUANTUMONLINE.COM SECURITY DESCRIPTION: National General Holdings Corp., 7.625% Subordinated Notes due 2055, issued in $25 denominations, redeemable at the issuer's option on or after 9/15/2020 at $25 per note plus accrued and unpaid interest, and maturing 9/15/2055. Interest distributions of 7.625% per annum ($1.90625 per annum or $0.476563 per quarter) will be paid quarterly on 3/15, 6/15, 9/15 & 12/15 to holders of record on the record date that will be 3/1, 6/1, 9/1 & 12/1 respectively (NOTE: the ex-dividend date is one business day prior to the record date). Distributions paid by these debt securities are interest and as such are NOT eligible for the preferential 15% to 20% tax rate on dividends and are also NOT eligible for the dividend received deduction for corporate holders. Units are expected to trade flat, which means accrued interest will be reflected in the trading price and the purchasers will not pay and the sellers will not receive any accrued and unpaid interest. This security was not rated by Moody’s or S&P at the time of its IPO. The Notes are unsecured subordinated obligations of the company and will rank equally with all existing and future unsecured and subordinated indebtedness of the company. See the IPO prospectus for further information on the debt securities by clicking on the ‘Link to IPO Prospectus’ provided below.
|
Go to Parent Company's Record (NGHC*)
IPO - 8/11/2015 - 4.00 Million Notes @ $25.00 /note.
Link to IPO Prospectus
Market Value $94.8 Million
Company's Online Information Links
|
Company's Online SEC EDGAR Filings |
Company's Email Address Links |
Address and Phone Numbers |
Address: 59 Maiden Lane, 38th Floor, New York, NY, 10038 |
Main Phone Number |
212-380-9500 |
Fax Number |
Not Available |
Investor Relations
|
212-380-9462
|
CEO - Michael Karfunkel |
CFO - Michael Weiner |
Find a problem? Please use our Feedback Page or Email us.
Have you filled out our Guestbook? If not, please do.
|
|