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Zions Bancorporation, 6.30% Dep Shares Fixed/Float Non-cum Pfd Stock, Series G
Ticker Symbol: ZIONO* CUSIP: 989701859 Exchange: NGS
* NOTE: This security is no longer trading as of 12/16/2024
Security has been Called for: Monday, December 16, 2024
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Nov. 14, 2024 -- the Zions board of directors has authorized the following capital actions:
Full redemption of its Series G Preferred Stock (CUSIP: 989701859) at a redemption price equal to $1,000 per share (equivalent to $25 per depositary share), plus any declared and unpaid dividends, without accumulation of any undeclared dividends;
Full redemption of its Series I Preferred Stock (CUSIP: 989701BD8) at a redemption price equal to $1,000 per share, plus any declared and unpaid dividends, without accumulation of any undeclared dividends;
Full redemption of its Series J Preferred Stock (CUSIP: 989701BF3) at a redemption price equal to $1,000 per share, plus any declared and unpaid dividends, without accumulation of any undeclared dividends; and
Full redemption of $87,890,550 aggregate principal amount of 6.95% Fixed-to-Floating Rate Subordinated Notes due September 15, 2028 (CUSIP: 989701818) at a redemption price equal to the principal amount being redeemed plus any accrued interest. The annual dividend after June 30, 2023 is calculated as: SOFR + 0.26161% + 4.24 %, paid quarterly when, as, and if declared by Zions’ board of directors.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Zions Bancorporation, 6.30% Depositary Shares each representing a 1/40th interest in a share of the Series G Fixed/Floating Rate Non-cumulative Perpetual Preferred Stock, liquidation preference $25 per depositary share, redeemable at the issuer's option on or after 3/15/2023 at $25 per depositary share plus declared and unpaid dividends, and with no stated maturity. Non-Cumulative fixed distributions of 6.30% per annum ($1.575 per annum or $0.39375 per quarter) will be paid quarterly through 3/15/2023 on 3/15, 6/15, 9/15 & 12/15 to holders of record on the record date that will be 3/1, 6/1, 9/1 & 12/1 respectively (NOTE: the ex-dividend date is one business day prior to the record date). After 3/15/2023 the non-cumulative distributions will be paid at a floating rate equal to the Three-Month LIBOR Three Month Term SOFR plus 0.26161% plus 4.24%. 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. 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-38 of the prospectus for further information). 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). This security was rated as B1 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 (ZION)
IPO - 1/31/2013 - 6.87 Million Shares @ $25.00 /share.
Link to IPO Prospectus
Previous Ticker Symbol: ZB-G Changed: 1/02/2020
Market Value $ 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 |
801-844-8208 |
| 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 - Paul E. Burdiss |
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