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Associated Banc-Corp, 5.375% Dep Shares Non-Cumul Perp Preferred Stock Series D
Ticker Symbol: ASB-D* CUSIP: 045488608 Exchange: NYSE
* NOTE: This security is no longer trading as of 9/15/2021
Security has been Called for: Wednesday, September 15, 2021
Aug. 5, 2021 -- Associated Banc-Corp (NYSE: ASB) ("Associated") today announced that it is calling for redemption on September 15, 2021 (the "Redemption Date") of all of its outstanding Depositary Shares (NYSE: ASB PR D) representing a 1/40th interest in a share of Associated's 5.375% Perpetual Preferred Stock, Series D (the "Depositary Shares"). As of today, there are 3,978,320 Depositary Shares outstanding. The Depositary Shares will be redeemed at a redemption price of $25 per Depositary Share, plus an amount equal to any declared and unpaid dividends to the Redemption Date.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Associated Banc-Corp., 5.375% Depositary Shares, each representing a 1/40th ownership interest in a share of the Non-Cumulative Perpetual Preferred Stock, Series D, redeemable at the issuer's option on or after 9/15/2021 at $25 per depositary share plus declared and unpaid dividends, and with no stated maturity. Non-Cumulative distributions of 5.375% per annum ($1.34375 per annum or $0.3359375 per quarter) will be paid quarterly on 3/15, 6/15, 9/15 & 12/15 to holders of record 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 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 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). 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-30 of the prospectus for further information). This security was rated as Baa3 by Moody’s and BB 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 (ASB)
IPO - 9/7/2016 - 4.00 Million Shares @ $25.00 /share.
Link to IPO Prospectus
Previous Ticker Symbol: ASBDP Changed: 9/21/2016
Market Value $100.0 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: 433 Main Street, Green Bay, WI 54301 |
| Main Phone Number |
920-491-7500 |
| Fax Number |
Not Available |
| Investor Relations
Brian Mathena
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920-491-7059
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| Toll Free Phone Number |
800-236-8866 |
| CEO - Philip B. Flynn |
CFO - Christopher J. Del Moral-Niles |
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