AGNC Investment Corp | 6.50% Dep Shares Ser E Fix/Float Cumul Red Preferred Stk (AGNCO)
Prospectus excerpt: AGNC Investment Corp. is offering 14,000,000 depositary shares, each representing a 1/1,000th interest in a share of 6.50% Series E Fixed-to-Floating Cumulative Redeemable Preferred Stock, $0.01 par value, with a liquidation preference of $25,000 per share (equivalent to a $25.00 liquidation preference per depositary share) (the “Series E 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 E Preferred Stock (including dividend, voting, redemption and liquidation rights). The 14,000 shares of Series E 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 dividends on the Series E Preferred Stock, in arrears, when and as declared, on the 15th day of each January, April, July and October, beginning on January 15, 2020 (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, 2024, at a fixed rate equal to 6.50% of the $25,000 liquidation preference per share of the Series E Preferred Stock per annum (equivalent to $1,625 per annum per share of Series E Preferred Stock or $1.625 per annum per depositary share) and (ii) from and including October 15, 2024, at a floating rate equal to three-month LIBOR plus a spread of 4.993% per annum of the $25,000 liquidation preference per share of the Series E Preferred Stock per annum.
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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 » |
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