QUANTUMONLINE.COM SECURITY DESCRIPTION: Kemper Corporation 5.875% Fixed-Rate Reset Junior Subordinated Debentures due 2062, redeemable at the issuer's option on or after 03/15/2027 at $25 per note plus accrued and unpaid interest, and maturing 03/15/2062. Interest distributions of the Annual Fixed Interest Rate will be paid quarterly on 3/15, 6/15, 9/15 & 12/15 to holders of record on 3/1, 6/1, 9/1 & 12/1 or the record date fixed by the board, prior to the payment date (NOTE: the ex-dividend date is one business day prior to the record date). The Annual Fixed Interest Rate will be 5.875% until the first redemption date, then it will be equal to the sum of the U.S Five-Year Treasury Rate on the applicable fixed rate calculation date plus 4.140%, resetting every 5 years thereafter on applicable fixed rate calculation date (see prospectus for more details).
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.
The issuer may elect to defer the interest payable on the Debentures on one or more occasions for up to 60 consecutive months (see prospectus for further information).
This security is possibly subject to an early call before 03/15/2027 at $25.00 (100%) of their principal amount plus accrued and unpaid interest within 90 days of a tax or regulatory capital event; before 03/15/2027 at $25.50 (102%) of their principal amount plus accrued and unpaid interest within 90 days of the occurrence of a rating agency event (see prospectus for further information).
This security was rated as Ba1 by Moody’s and BB+ by S&P at the date of its IPO. This security was rated as BB+ by Fitch Raitings Co. at the date of its IPO. The Notes are unsecured, junior subordinated obligations of the company and are unsecured, subordinated obligations of the company and will rank junior to the company's senior debt, junior to unsecured, subordinated indebtedness of the company and will rank equally with all existing and future unsecured, junior subordinated of the company. See the IPO prospectus for further information on the debt securities by clicking on the ‘Link to IPO Prospectus’ provided below.
