Business: Truist Financial Corp, Series J Non-Cumulative Perpetual Preferred Stock Variable Rate Depositary Shares each representing a 1/100 interest in a share of the Non-cumulative Perpetual Preferred Stock, liquidation preference $1000 per share, redeemable at the issuer's option on or after 12/15/2024 at $1000 per share plus declared and unpaid dividends, and with no stated maturity. Variable rate distributions are paid quarterly on 3/15, 6/15, 9/15 & 12/15 to holders of record on the date fixed by the board (NOTE: the ex-dividend date is one business day prior to the record date). The variable rate distributions will be paid at a rate equal to the greater of the Three-Month LIBOR plus 0.645% or 4.00%. 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. 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 the prospectus for further information). In regards to payment of dividends and upon liquidation, the preferred shares rank equally with other preferreds 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.