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Allstate Corp., 6.25% Dep Shares Non-Cumulative Perp Preferred Stock Series F
Ticker Symbol: ALL-F* CUSIP: 020002853 Exchange: NYSE
* NOTE: This security is no longer trading as of 10/15/2019
Security has been Called for: Tuesday, October 15, 2019
Sept. 3, 2019 – The Allstate Corporation today announced that on Oct. 15, 2019, it will redeem all of its outstanding Series D, E and F Preferred Stock at par for a total redemption payment of $1.133 billion. Allstate will use the proceeds of its Aug. 8, 2019, $1.150 billion issuance of 5.10% Fixed Rate Noncumulative Perpetual Preferred Stock, Series H, to fund the redemption. The average dividend yield of the securities to be redeemed is 6.54%. The redemption will include all 5,400 shares of its Fixed Rate Noncumulative Perpetual Preferred Stock, Series D; all 29,900 shares of its Fixed Rate Noncumulative Preferred Stock, Series E; and all 10,000 shares of its Fixed Rate Noncumulative Preferred Stock, Series F; as well as the corresponding Depositary Shares, each representing a 1/1,000th interest in a share of the Preferred Stock. The Depositary Shares are currently traded on the New York Stock Exchange under the symbols “ALL PR D” (CUSIP No. 020002804), “ALL PR E” (CUSIP No. 020002879) and “ALL PR F” (CUSIP No. 020002853). The Depositary Shares will be redeemed at a redemption price of $25.00 per Depositary Share, representing a total redemption payment of $1,132,500,000. On Oct. 15, 2019, a dividend in the amount of $0.4140625 per Series D and E Depositary Shares and $0.390625 per Series F Depositary Shares will be paid in cash to holders of record at the close of business on Sept. 30, 2019. On and after the redemption date, the Series D, E and F Preferred Stock will no longer be deemed outstanding, and no further dividends will be declared or payable on them. The Depositary Shares are held through The Depository Trust Company (DTC) and will be redeemed in accordance with the procedures of DTC. Payment to DTC will be made by Equiniti Trust Company, Allstate’s redemption agent for the Depositary Shares. Questions about the notice of redemption and related materials should be directed to EQ Shareowner Services by mail at P.O. Box 64858, St. Paul, MN, 55164-0858, Attention: Corporate Actions; by overnight courier at 1110 Centre Pointe Curve, Suite 101, Mendota Heights, MN, 55120-4100, Attention: Corporate Actions.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Allstate Corp., 6.25% Leopards (the Depositary Shares) each representing a 1/1000 interest in a share of the Fixed Rate Non-cumulative Perpetual Preferred Stock, Series F, liquidation preference $25 per depositary share, redeemable at the issuer's option on or after 10/15/2019 at $25 per depositary share plus declared and unpaid dividends, and with no stated maturity. Non-cumulative distributions of 6.25% per annum ($1.5625 per annum or $0.390625 per quarter) will be paid quarterly on 1/15, 4/15, 7/15 & 10/15 to holders of record on the record date that will be on the 15th calendar day prior to the payment date or on the 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 at least one business day prior to the record date). 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. This security is possibly subject to an early call as a result of the occurrence of a rating agency event at $25 per depositary share plus a possible make-whole amount (see the prospectus for further information). 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 the prospectus for further information). This security was rated as Baa3 by Moody’s and BBB- by S&P 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 (ALL)
IPO - 6/5/2014 - 10.00 Million Shares @ $25.00 /share.
Link to IPO Prospectus
Previous Ticker Symbol: ALSTP Changed: 6/19/2014
Market Value $250.0 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: 2775 Sanders Road, Northbrook, IL 60062 |
| Main Phone Number |
847-402-5000 |
| Fax Number |
Not Available |
| Investor Relations
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800-416-8803
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| Toll Free Phone Number |
800-255-7828 |
| CEO - Thomas J. Wilson |
CFO - Mario Rizzo |
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