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Regions Financial Corp., 6.375% Dep Shares Non-Cumul Perpetual Preferred Stock A
Ticker Symbol: RF-A* CUSIP: 7591EP308 Exchange: NYSE
* NOTE: This security is no longer trading as of 6/15/2021
Security has been Called for: Tuesday, June 15, 2021
May 4, 2021 -- the Company is sending redemption notices to the holders of the depositary shares (the “Series A Depositary Shares”) each representing a 1/40th interest in a share of the Company’s 6.375% Non-Cumulative Perpetual Preferred Stock, Series A (the “Series A Preferred Stock”), which will result in the redemption on June 15, 2021
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Regions Financial Corp., 6.375% Depositary Shares each representing a 1/40th Interest in a share of the 6.375% Non-Cumulative Perpetual Preferred Stock, Series A, liquidation preference $25 per depositary share, redeemable at the issuer's option on or after 12/15/2017 at $25 per depositary share plus accrued and unpaid dividends, and with no stated maturity. Non-cumulative distributions of 6.375% per annum ($1.59375 per annum or $0.3984375 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 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 (see the prospectus for further information) which no longer allows the company to include the funds originating from this security as Tier 1 capital on their balance sheet. 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-34 of the prospectus for further information). 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 (RF)
IPO - 10/25/2012 - 20.00 Million Shares @ $25.00 /share.
Link to IPO Prospectus
Previous Ticker Symbol: RFAAL Changed: 11/06/2012
Market Value $493.0 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: 1900 Fifth Avenue North, Birmingham, AL 35203 |
| Main Phone Number |
205-944-1300 |
| Fax Number |
205-326-7756 |
| Investor Relations
Dana Nolan
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205-264-7040
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| Toll Free Phone Number |
800-734-4667 |
| CEO - John M. Turner, Jr. |
CFO - David J. Turner, Jr. |
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