QUANTUMONLINE.COM SECURITY DESCRIPTION: Associated Banc-Corp 6.625% Fixed-Rate Reset Subordinated Notes due 2033, redeemable at the issuer's option on or after 03/01/2028 at $25 per note plus accrued and unpaid interest, and maturing 03/01/2033. Interest distributions of the Annual Fixed Dividend Rate will be paid quarterly on 3/1, 6/1, 9/1 & 12/1 to holders of record on 2/15, 5/15, 8/15 & 11/15 prior to the payment date (NOTE: the ex-dividend date is one business day prior to the record date). The Annual Fixed Dividend Rate will be 6.625% until the first redemption date, then it will be equal to the sum of the Five-year U.S. Treasury Rate on the applicable fixed rate calculation date plus 2.812%, 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.
This security was rated as Baa1 by Moody’s and BBB- by S&P at the date of its IPO. The Notes are unsecured, subordinated obligations of the company and will rank junior to the company's senior debt, equally with all existing and future unsecured, subordinated indebtedness of the company. See the IPO prospectus for further information on the debt securities by clicking on the ‘Link to IPO Prospectus’ provided below.
