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Zions Capital Trust B, 8.00% Capital Securities
Ticker Symbol: ZB-B* CUSIP: 989703202 Exchange: NYSE
* NOTE: This security is no longer trading as of 5/03/2013
Security has been Called for: Friday, May 3, 2013
April 2, 2013 -- Zions Bancorporation Announces Redemption Of Series B Trust Preferred Securities. Zions Bancorporation (Nasdaq: ZION) today announced that on May 3, 2013, Zions Capital Trust B will redeem all of its outstanding 8.0% capital securities (CUSIP No. 989703202, the Capital Securities) consisting of 11,400,000 shares with an aggregate liquidation amount of $285,000,000. The redemption price will be 100% of the liquidation amount ($25.00 per share) of the Capital Securities, together with accrued and unpaid distributions to the redemption date. The Paying Agent with respect to the Capital Securities is The Bank of New York Mellon, located at 111 Sanders Creek Parkway, East Syracuse, New York 13057, Attention: Transtar Department.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Zions Capital Trust B, 8.00% Capital Securities, liquidation amount $25 per share, guaranteed by Zions Bancorporation (Nasdaq: ZION) (See our definition of Guaranteed in our Glossary of Income Investing Terms for the technicalities of the guarantee), redeemable at the issuer's option on or after 9/01/2007 at $25 per share plus accrued and unpaid dividends, and maturing 9/01/2032. Cumulative distributions of 8.00% ($2.00) per annum are paid quarterly on 3/1, 6/1, 9/1 & 12/1 to holders of record on the business day preceding the payment date (NOTE: the ex-dividend date is at least 2 business days prior to the record date). Dividends paid by trust preferred securities are derived from interest paid to the underlying debt securities and therefore 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 company has the right, at any time, to defer interest payments for up to 20 consecutive quarters (see prospectus for details). The trust's assets consist of the 8.00% Junior Subordinated Deferrable Interest Debentures due 9/01/2032 which were purchased from the company using the funds generated from the sale of the preferred securities. See the IPO prospectus for further information on the trust preferred securities by clicking on the ‘Link to IPO Prospectus’ provided below.
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Go to Parent Company's Record (ZION)
IPO - 8/19/2002 - 10.40 Million Shares @ $25.00/share.
Link to IPO Prospectus
Market Value $269.0 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: One South Main, 15th Floor, Salt Lake City, UT 84133 |
| Main Phone Number |
801-524-4787 |
| Fax Number |
801-524-4659 |
| Investor Relations
James Abbott
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801-844-7637
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Toll Free Phone Number |
Unknown |
| CEO - Harris H. Simmons |
CFO - Doyle L. Arnold |
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