PreferredStockChannel
Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Sat, April 1, 4:33 PM
| This Slide: #569 of 609 |
Slide #569. City National Corporation — Preferred Stock Offering
Company:
City National Corporation (NASDAQ:CYN)
Shares Offered:
7,000,000
Date of Pricing:
11/5/2012
Price Per Share:
$25
Preferred Stock Offering Details:
City National Corporation, the parent company of wholly owned City National Bank, today priced a public offering of $175 million in 5.50 percent non-cumulative perpetual preferred stock, which qualifies as Tier 1 capital. The company is offering 7 million depositary shares at a price of $25 per share. Each depositary share represents a 1/40th interest in a share of its Series C preferred stock. Net proceeds will be used for general corporate purposes, including debt repayment. The offering is expected to close on or about November 13, 2012, subject to customary closing conditions.
Cyngn is an autonomous vehicle (AV) technology company. Co. is engaged in develops autonomous driving software that can be deployed on multiple vehicle types in various environments. Co. designs the Enterprise Autonomy Suite (EAS), a suite of technologies and tools into three complementary categories: DriveMod; Cyngn Insight; and Cyngn Evolve.
Open the CYN Page at Preferred Stock Channel »
|
|||||||||||||||||||||
|
|
Open the CYN Page at Preferred Stock Channel (in a new window) »
 Free CYN Email Alerts:
Get Dividend Alerts 
Get SEC Filing Alerts
|
Avg. Broker Rec.
|
Strong Buy (4.00 out of 4) 94th percentile
(ranked higher than approx. 94% of all stocks covered)
Based on data provided by Zacks Investment Research via Quandl.com |
 |
