Business: Voya Financial, Inc., 5.35% Depositary Shares Each Representing a 1/40th Interest in a Share of Fixed-Rate Reset Non-Cumulative Preferred Stock, Series B, liquidation preference $25 per depositary share, redeemable at the issuer's option on 9/15/2029 or any subsequent reset date at $25 per depositary share plus declared and unpaid dividends, and with no stated maturity. <p> Through 9/15/2029, non-cumulative dividends of 5.35% per annum ($1.3375 per annum or $0.34375 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 the 15th calendar day prior to the payment date or such other record date 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 9/15/2029 dividends will be paid during each reset period, at a rate per annum equal to the Five-year U.S. Treasury Rate as of the most recent reset dividend determination date plus 3.21%. 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-35 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). Within 90 days after the occurrence of a rating agency event the issuer will have the option to redeem the depositary shares at a redemption price equal to $25.50 plus an amount equal to any accrued and unpaid dividends. <p> This security was rated as Ba2 by Moody’s, BBB- by S&P and BB+ by Fitch at the date 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.