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Security Details
- Coupon Rate
- 6.38%
- Liquidation Preference
- $25.00
- Call Price
- $25.00
- Call / Redemption Date
- 7/21/2024
- Maturity Date
- None
- Distribution Period
- Q
- Rate Type
- FixFloat
- Annual Distribution
- 1.59
- Distribution Dates
- 1/1, 4/1, 7/1 & 10/1
- Credit Ratings
- Moody's Baa3 · S&P NR (6/15/2025)
- Tax-Advantaged Dividends
- Yes
Security Profile
Security has been called for January 2, 2026.
- CUSIP
- 89678F506
- Market Cap
- Micro Cap
- IPO
- 5/22/2019 · $25.00/share
- Previous Symbol
- TSCBP (changed 6/1/2022)
- Previous Name
- Tristate Capital Holdings 6.375% Dep Sh Fix/Float Ser B Non-Cumul Perp Pfd Stock
- Parent Company
- Tristate Capital Holdings, Inc. (RJF)
Business: Raymond James Financial formerly, TriState Capital Holdings, Inc., 6.375% Depositary shares, each representing a 1/40th interest in a share of Fixed-to-Floating Rate Series B Non-Cumulative Perpetual Preferred Stock, liquidation preference $25 per depositary share, redeemable at the issuer's option on or after 7/1/2024 at $25 per depositary share plus declared and unpaid dividends, and with no stated maturity.<p> Non-Cumulative distributions of 6.375% per annum ($1.59375 per annum or $0.3984375 per quarter) will be paid quarterly on 1/1, 4/1, 7/1 & 10/1 to holders of record on the record date that will be fixed by the board, not more than 60 days or less than 10 days prior to the payment date (NOTE: the ex-dividend date is one business day prior to the record date). From and including 7/1/2026 dividends will accumulate and be payable at a floating rate equal to the <s>three-month LIBOR</s> 3-month CME Term SOFR rate plus a spread adjustment of 0.26161%, plus 408.8 basis points, only when, as and if declared. The dividends are non-cumulative and if the board of directors does not declare a dividend or the company fails to pay a dividend declared by the board for any quarterly dividend period, the holder will not be entitled to receive any dividend for that quarterly period and the undeclared or unpaid dividend will not accumulate.<p> Dividends paid by this preferred security are eligible for the preferential income tax rate of 15% to a maximum of 20% depending on the holder's tax bracket (and under IRS specified holding restrictions) and are also eligible for the dividends received deduction for corporate holders (see page S-37 of the prospectus for further information). <p> This security is possibly subject to an early call as a result of the occurrence of a regulatory capital treatment event which no longer allows the company to include the funds originating from this security as Tier 1 capital on their balance sheet (see the prospectus for further information). This security was not rated by Moody’s or S&P at the time of its IPO. <p> This security was rated BBB- by the Kroll Bond Rating Agency at the time of its IPO. In regard to the payment of dividends and upon liquidation, the preferred shares rank junior to the company's senior debt, equally with other preferreds of the company, and senior to the common shares of the company. See the IPO prospectus for further information on the preferred stock by clicking on the ‘Link to IPO Prospectus’ provided below.
Notes: December 2, 2025 -- ST. PETERSBURG, Fla. - On December 2, 2025, Raymond James Financial, Inc. (NYSE: RJF) announced that, on January 2, 2026, it will redeem all 80,500 outstanding shares of its 6.375% Fixed-to-Floating Rate Series B Non-Cumulative Perpetual Preferred Stock, par value $0.10 per share (the “Series B Preferred Stock”). The redemption of the Series B Preferred Stock will trigger the redemption of the related depositary shares, each representing a 1/40th interest of a share of Series B Preferred Stock (the “Series B Depositary Shares”) (NYSE: RJF PrB) (CUSIP: No. 754730 406). The redemption prices will be equal to $1,000.00 per share of Series B Preferred Stock and $25.00 per Series B Depositary Share. The redemption prices noted herein do not include declared and unpaid dividends, if any, prior to the redemption date. After giving effect to the redemption, no shares of Series B Preferred Stock or Series B Depositary Shares will remain outstanding.<p>
May 23, 2023 -- Raymond James Financial, Inc. (NYSE: RJF) (“RJF”) announced that, effective as of the first London banking date after June 30, 2023 (the “LIBOR Replacement Date”), three-month CME Term SOFR (as defined below) will be the replacement reference rate for the following of its outstanding securities that currently provide for the use of three-month U.S. dollar LIBOR as the reference rate: RJF is issuing this press release to announce that, effective as of the LIBOR Replacement Date, the CME Term SOFR Reference Rate published for the three-month tenor, as administered by CME Group Benchmark Administration, Ltd. (or any successor administrator thereof) (“three-month CME Term SOFR”), plus a spread adjustment of 0.26161% per annum (such rate being the applicable “Board-selected benchmark replacement” under the LIBOR Rule) will be the reference rate for calculations or determinations of applicable dividend or interest payments . <p> June 1, 2022 -- Raymond James Financial (NYSE: RJF) announced today that it has completed the previously announced acquisition of TriState Capital Holdings, Inc. Each share of TriState Capital’s 6.75% Fixed-to-Floating Rate Series A Non-Cumulative Perpetual Preferred Stock and each share of TriState Capital’s 6.375% Fixed-to-Floating Rate Series B Non-Cumulative Perpetual Preferred Stock was converted, respectively, into the right to receive one share of a newly created series A and series B preferred stock of Raymond James. Each outstanding TriState Capital depositary share representing a 1/40th interest in a share of the applicable series of TriState Capital preferred stock was converted into a Raymond James depositary share representing a 1/40th interest in a share of the applicable newly created series of Raymond James preferred stock (NYSE: RJF-A and RJF-rB).
Company Contact
- CEO
- Paul C. Reilly
- CFO
- Paul Shoukry
- Headquarters
- 880 Carillon Parkway, St. Petersburg, FL 33716
- Phone
- 727-567-1000 · Toll-Free 800-248-8863
- Fax
- 727-573-8365
- Investor Relations
- Paul Shoukry · 727-567-5133 · investorrelations@raymondjames.com