This page lists the most recent initial public offerings of preferred stocks and other exchange-traded income securities, newest first. New issues are added as we become aware of them, generally within 30 days of the offering.
New issues matter to income investors for a specific reason: a security's coupon is set at issue to clear the market on that day. A wave of new preferreds priced at 8% tells you what income investors are demanding right now, and it reprices every comparable security already outstanding.
| Symbol / CUSIP | Security Description | Exchange | IPO Date | Prospectus |
|---|---|---|---|---|
| IIPEV 45781V309 | Innovative Industrial Properties, Inc 9.25% Series B Cumulative Preferred Stock | OTOTC | 10/8/2026 | Prospectus |
| RWAYM 78163D506 | Runway Growth Finance Corp. 7.75% Notes Due 2031 | NGS | 9/28/2026 | Prospectus |
| DX-D 26817Q860 | Dynex Capital Inc 9.375% Series D Cumulative Preferred Stock | NYSE | 9/23/2026 | Prospectus |
| SAX 80349A844 | Saratoga Investment Corp 8.00% Notes due 8/31/2031 | NYSE | 8/18/2026 | Prospectus |
| ADAMK 00547J207 | Adamas Trust, Inc. 9.60% Senior Notes due 10/01/2031 | NGS | 8/11/2026 | Prospectus |
| DUKU 26441C881 | Duke Energy Corp 7.75% Equity Units Due 8/1/2029 | NYSE | 8/10/2026 | Prospectus |
| MTB-L 55261F823 | M&T Bank Corp 6.625% Depositary Shares Non-Cumulative Preferred Stock, Series L | NYSE | 7/16/2026 | Prospectus |
| SMCIP 86800U500 | Super Micro Computer, Inc 7.0% Series A Mandatory Convertible Preferred Stock | NGS | 6/10/2026 | Prospectus |
| BMNP 09175D200 | Bitmine Immersion Technologies 9.50% Series A Perpetual Preferred Stock | NYSE | 6/4/2026 | Prospectus |
| GOOGN 02079K701 | Alphabet Inc Dep Shares 6.25% Series B Mandatory Convertible Preferred Stock | NGS | 6/3/2026 | Prospectus |
| GOOGM 02079K404 | Alphabet Inc Dep Shares 6.25% Series A Mandatory Convertible Preferred Stock | NGS | 6/2/2026 | Prospectus |
| PFLA 70806A205 | PennantPark Floating Rate Capital Ltd 7.375% Notes due 6/15/2031 | NYSE | 5/28/2026 | Prospectus |
| FBYDP | Falcon's Beyond Global 11% Series B Cumulative Convertible Preferred Stock | NGM | 5/21/2026 | Prospectus |
| RWTS 758075840 | Redwood Trust, Inc 9.75% Senior Notes due 6/1/2031 | NYSE | 5/19/2026 | Prospectus |
| BFH-B 018581603 | Bread Financial Holdings Dep Shares 8.875% Reset Rate Non-Cumul Prfd Stock Ser B | NYSE | 5/6/2026 | Prospectus |
| CFTR-A 138615802 | Cantor Fitzgerald Income Trust Inc 9.50% Series A Cumulative Preferred Stock | NYSE | 3/31/2026 | Prospectus |
| ELLA 288578206 | Ellington Credit Co 8.50% Notes Due 03/30/2031 | NYSE | 3/25/2026 | Prospectus |
| NEE-W 65339K829 | NextEra Energy Capital Holdings, Inc. Se Z Junior Sub Debentures due 4/15/2086 | NYSE | 3/18/2026 | Prospectus |
| OXLCM 691543839 | Oxford Lane Capital Corp 8.25% Term Preferred Series 2031 Due 3/20/2031 | NGS | 3/12/2026 | Prospectus |
| FHN-H 320517840 | First Horizon Corp 6.75% Dep Shares Non-Cumulative Preferred Stock, Series H | NYSE | 3/6/2026 | Prospectus |
| NEE-P 65339F655 | NextEra Energy, Inc. 7.375% Equity Units Due 02/15/2029 | NYSE | 2/26/2026 | Prospectus |
| PPLU 69351T866 | PPL Corp Equity Units Due 02/15/2039 | NYSE | 2/24/2026 | Prospectus |
| WHR-A 963320205 | Whirlpool Corp 8.50% Dep Shares Ser A Mandatory Convertible Prfd Stock Due 2029 | NYSE | 2/24/2026 | Prospectus |
| GAING 376546859 | Gladstone Investment Corp 7.125% Notes due 05/01/2031 | NGS | 2/10/2026 | Prospectus |
| C-R 172967242 | Citigroup Inc 6.250% Depositary Shares Noncumulative Preferred Stock, Series II | NYSE | 2/5/2026 | Prospectus |
The remaining 924 securities — plus sorting, filtering and Excel, PDF and CSV export — are available to registered users. Registration is free.
Issuers sell preferreds at $25 and set the coupon at whatever level buyers require. When rates rise, new issues come with higher coupons — and every older, lower-coupon preferred from the same issuer must fall in price until its yield is competitive. Watching new-issue coupons is the fastest read on where the income market is.
This is also why a rush of new issuance often coincides with weakness in existing preferreds: fresh supply at attractive coupons pulls money out of seasoned issues.
New preferreds frequently trade below the $25 issue price shortly after listing, once underwriting support ends and allocations are sold on. For a patient buyer this can be the best entry point in the security's life, since the coupon is fixed and buying below par raises the yield.
New issues also often trade over the counter under a temporary symbol before receiving their permanent exchange ticker, so the symbol you see at first may not be the one it settles on.
The prospectus is linked from every security's detail page and is the only authoritative source. The terms that matter most are the coupon, whether it is fixed or fixed-to-floating, the call date and call price, whether the dividend is cumulative, and whether the distribution is a qualified dividend or interest.
Fixed-to-floating issues deserve particular care: the coupon resets to a spread over a reference rate after the initial fixed period, which can raise or lower your income substantially.
QuantumOnline has tracked exchange-traded income securities since 1997. Every security in this list is researched and maintained by hand from the issuer's prospectus and SEC filings, not scraped from a vendor feed. Where a figure is unavailable we show "n.a." rather than guessing.
Information is believed to be accurate but is not guaranteed, and nothing here is a recommendation to buy or sell. Always confirm terms against the issuer's prospectus before investing.