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Air Lease Corp., 6.15% Fix/Float Non Cumulative Perp Preferred Stock Series A
Ticker Symbol: AL-A* CUSIP: 00912X500 Exchange: NYSE
* NOTE: This security is no longer trading as of 10/17/2023
Security has been Called for: Thursday, October 17, 2024
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Air Lease Corp., 6.15% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series A, liquidation preferaence $25 per share, redeemable at the issuer's option on or after 3/15/2024 at $25 per share plus declared and unpaid dividends, and with no stated maturity. Non-Cumulative distributions of 6.15% per annum ($1.5375 per annum or $0.384375 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 15 days prior to the payment date or a record date fixed by the board, not more than 30 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). The issuer may redeem the Series A Preferred shares at any time within 90 days following a Rating Agency Event. From 3/15/2024 dividends will be paid at a floating rate of the Three-Month LIBOR plus 3.65% per annum. 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 page S-36 of the prospectus for further information). This security was rated as BB+ by S&P, BB+ by Fitch Ratings, and BBB by Kroll Bond Rating Agency 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.
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Go to Parent Company's Record (AL)
IPO - 2/25/2019 - 10.00 Million Shares @ $25.00 /share.
Link to IPO Prospectus
Previous Ticker Symbol: ALSCP Changed: 3/07/2019
Market Value $ Million
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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: 2000 Avenue of the Stars, Suite 1000N, Los Angeles, CA 90067 |
| Main Phone Number |
310-553-0555 |
| Fax Number |
310-553-0999 |
| Investor Relations
Jason Arnold
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310-553-0555
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Toll Free Phone Number |
Unknown |
| CEO - John L. Plueger |
CFO - Gregory B. Willis |
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