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First Horizon Corp., 6.20% Non-Cumul Perp Preferred Stock, Series A
Ticker Symbol: FHN-A* CUSIP: 320517204 Exchange: NYSE
* NOTE: This security is no longer trading as of 7/12/2021
Security has been Called for: Saturday, July 10, 2021
May 13, 2021-- First Horizon Corporation (NYSE: FHN) today announced that on July 10, 2021 (the “Redemption Date”), it will redeem all outstanding shares of its Non-Cumulative Perpetual Preferred Stock, Series A (the "Series A Preferred Stock"), and all related outstanding depositary shares, each representing a 1/4,000th interest in a share of the Series A Preferred Stock (“the Series A Depositary Shares”) (NYSE: FHN.PR A). After the redemptions, no shares of Series A Preferred Stock, and no Series A Depositary Shares, will remain outstanding.
The redemption price will be $25.00 per Series A Depository Share, corresponding to $100,000 per share of Series A Preferred Stock. Accrued dividends will not be included in either redemption price because the Redemption Date is also a dividend payment date. The regular Series A quarterly dividend, which was declared in April, will be paid separately in the customary manner on July 12, 2021 to shareholders of record at the close of business on June 25, 2021.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: First Horizon Corp formerly First Horizon National Corp., 6.20% Depositary Shares each representing a 1/4000th interest in a share of the Non-Cumulative Perpetual Preferred Stock, Series A, liquidation preference $25 per depositary share, redeemable at the issuer's option on or after 4/10/2018 at $25 per depositary share plus declared and unpaid dividends, and with no stated maturity. Non-Cumulative distributions of 6.20% per annum ($1.55 per annum or $0.3875 per quarter) will be paid quarterly on 1/10, 4/10, 7/10 & 10/10 to holders of record on the record date that will be 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-28 of the prospectus for further information). This security was rated as Ba2 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 (FHN)
IPO - 1/24/2013 - 4.00 Million Shares @ $25.00 /share.
Link to IPO Prospectus
Previous Ticker Symbol: FHZNL Changed: 2/04/2013
Previous Name: First Horizon National Corp Changed: 11/30/2020
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: 165 Madison Avenue, Memphis, TN 38103 |
| Main Phone Number |
901-523-4444 |
| Fax Number |
901-523-4614 |
| Investor Relations
Aarti Bowman
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901-523-4017
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| Toll Free Phone Number |
800-489-4040 |
| CEO - D. Bryan Jordan |
CFO - William C. Losch III |
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