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AGNC Investment Corp | Ser G Reset Rate Cumul Preferred Stock (AGNCL)

Prospectus excerpt:  AGNC Investment Corp. is offering 6,000,000 depositary shares, each representing a 1/1,000th interest in a share of 7.75% Series G Fixed-Rate Reset Cumulative Redeemable Preferred Stock, par value $0.01, with a liquidation preference of $25,000 per share (equivalent to a $25.00 liquidation preference per depositary share) (the “Series G Preferred Stock”). Each depositary share, evidenced by a depositary receipt, entitles the holder, through the depositary, to a proportional fractional interest in all rights and preferences of the Series G Preferred Stock (including dividend, voting, redemption and liquidation rights). The 6,000 shares of Series G Preferred Stock underlying the depositary shares will be deposited with Computershare Inc. and Computershare Trust Company, N.A., jointly as depositary. We will pay quarterly cumulative cash dividends on the Series G Preferred Stock based on the stated liquidation preference of $25.00 per share, in arrears, when and as declared, on the 15th day of each January, April, July and October, beginning on January 15, 2023 (provided that if any dividend payment date is not a business day, then the dividend which would otherwise have been payable on that dividend payment date (as defined herein) may be paid on the next succeeding business day) (i) from, and including, the date of original issuance to, but excluding, October 15, 2027, at a fixed rate equal to 7.75% (equivalent to $1,937.50 per annum per share of Series G Preferred Stock or $1.93750 per annum per depositary share), and (ii) from and including October 15, 2027, during each reset period (as defined herein), at a rate per annum equal to the five-year U.S. Treasury Rate (as defined herein) as of the most recent reset dividend determination date (as described elsewhere in this prospectus supplement) plus a spread of 4.39% per annum.

Full Prospectus PDF », Secondary Prospectus PDF », AGNC Page »

Series:G
Redeemable?:Yes
Call Date:10/15/2027
Perpetual?:Yes
Cumulative?:Yes
Shares Offered:6,000,000
Overallotment:900,000
Liquidation Preference:$25.00
Recent Market Price:$23.80
Discount to Liquidation Preference:
(More Preferreds Trading at a Discount »)
$-1.20 (-4.80%)
Annualized Dividend:1.93752
Recent Ex-Date:3/28/2024
Current Yield:8.14%
Original Coupon:7.75% until 10/15/2027, then equal to the sum of the five-year U.S. Treasury Rate on the applicable fixed rate calculation date plus 4.39%, resetting every 5 years thereafter on applicable fixed rate calculation date
Pay Period:Quarterly
Pay Dates:15-Jan, 15-Apr, 15-Jul, 15-Oct
CDx3 Compliance Rating: Learn AGNCL's Rating
AGNC Investment is a real estate investment trust. Co. invests in Agency residential mortgage-backed securities, which consist of residential mortgage pass-through securities and collateralized mortgage obligations for which the principal and interest payments are guaranteed by a U.S. Government-sponsored enterprise, such as the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (together with Fannie Mae, GSEs), or by a U.S. Government agency, such as the Government National Mortgage Association. Co. also invests in other assets related to the housing, mortgage or real estate markets that are not guaranteed by a GSE or U.S. Government agency.

Preferreds: AGNCN, AGNCM, AGNCO, AGNCP, AGNCL


Open the AGNC Information Page »
Name: 
AGNC Investment Corp
Website: 
www.agnc.com
Sector: 
REITs
Number of ETFs Holding AGNC: 
38 (see which ones)
Total Market Value Held by ETFs: 
$805,814,617.36
Total Market Capitalization: 
$6,769,000,000
% of Market Cap. Held by ETFs: 
11.90%

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