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AmTrust Financial Services, 7.50% Subordinated Notes due 9/15/2055
Ticker Symbol: AFFT CUSIP: 032359853 Exchange: OTOTC
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QUANTUMONLINE.COM SECURITY DESCRIPTION: AmTrust Financial Services, Inc., 7.50% Subordinated Notes due 2055, issued in $25 denominations, redeemable at the issuer's option on or after 9/16/2020 at $25 per note plus accrued and unpaid interest, and maturing 9/15/2055. Interest distributions of 7.50% per annum ($1.875 per annum or $0.46875 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 and 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.
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Go to Parent Company's Record (AFSI*)
Notes: January 18, 2019 -- AmTrust Financial Services, Inc. today announced that its Board of Directors has approved the voluntary delisting of all six series of preferred stock and two series of subordinated notes from the New York Stock Exchange. The Company intends to voluntarily delist the Series A Preferred Stock (NYSE: AFSI-PA), the Company’s Depositary Shares representing 1/40th of a share of its Series B, C, D, E and F Preferred Stock, respectively (NYSE: AFSI-PB, AFSI-PC, AFSI-PD, AFSI-PE, AFSI-PF), the Company’s 7.25% Subordinated Notes due 2055 (NYSE: AFSS) and the Company’s 7.50% Subordinated Notes due 2055 (NYSE: AFST). The Company intends to file with the Securities and Exchange Commission (“SEC”) a notification on Form 25 on or about January 28, 2019 to delist and deregister the Listed Securities under Section 12(b) of the Securities Exchange Act of 1934, as amended. The Company expects the delisting of the Listed Securities to become effective on or about February 7, 2019 at which time AmTrust’s SEC reporting obligations with respect to the Listed Securities will be suspended. AmTrust’s decision to delist and deregister the Listed Securities was based on its determination that the administrative costs and burdens associated with maintaining the listings on the NYSE and the registration exceed the benefits given the small number of record holders and low daily trading volume. In addition, this decision was made in light of the Company’s new ownership structure and the resulting changes to its long-term strategy, following the completion of AmTrust’s go-private transaction on November 29, 2018 and the delisting of its common stock. Each series of the Preferred Stock and the Subordinated Notes will continue to remain an outstanding obligation of AmTrust. The Company plans to continue paying quarterly dividends and interest on the Listed Securities consistent with its rights and obligations.
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IPO - 9/9/2015 - 5.00 Million Notes @ $25.00 /note.
Link to IPO Prospectus
Previous Ticker Symbol: AFST Changed: 1/18/2019
Market Value $ Million
Click for current AFFT price quote from the PINK SHEETS
Click for current AFFT price quote from the NASDAQ
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Company's Online Information Links
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| Company's Online SEC EDGAR Filings |
| Company's Email Address Links |
| Address and Phone Numbers |
| Address: 59 Maiden Lane, 43rd Floor, New York, NY 10038 |
| Main Phone Number |
212-220-7120 |
| Fax Number |
212-220-7130 |
| Investor Relations
Chaya Cooperberg
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646-458-3332
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| Toll Free Phone Number |
855-327-2223 |
| CEO - Barry D. Zyskind |
CFO - Daniel Pacicco |
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