Dividends on the Series G Preferred Stock, when, as and if declared by our board of directors or a duly authorized committee of the board, will accrue and be payable on the liquidation preference amount, on a non-cumulative basis, quarterly in arrears on the 1st day of March, June, September and December of each year, commencing on June 1, 2013, at a rate per annum equal to 5.200%. If our board of directors or a duly authorized committee of the board has not declared a dividend on the Series G Preferred Stock before the dividend payment date for any dividend period, such dividend shall not be cumulative and shall not accrue or be payable for such dividend period, and we will have no obligation to pay dividends for such dividend period, whether or not dividends on the Series G Preferred Stock are declared for any future dividend period.
The Series G Preferred Stock may be redeemed at our option in whole, or in part, on or after June 1, 2018 at a redemption price equal to $25,000 per share (equivalent to $25 per depositary share), plus any declared and unpaid dividends, without accumulation of any undeclared dividends. The Series G Preferred Stock also may be redeemed at our option in whole, but not in part, prior to June 1, 2018 upon the occurrence of a ôregulatory capital treatment event,ö as described herein, at a redemption price equal to $25,000 per share (equivalent to $25 per depositary share), plus any declared and unpaid dividends, without accumulation of any undeclared dividends. The Series G Preferred Stock will not have any voting rights, except as set forth under ôDescription of Series G Preferred Stock ù Voting Rightsö on page S-27.
We intend to apply to list the depositary shares on the New York Stock Exchange (ôNYSEö) under the symbol ôBBT PrG.ö If the application is approved, we expect trading of the depositary shares on the NYSE to begin within the 30-day period after the initial delivery of the depositary shares.
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Truist Financial is a financial holding company. Through its subsidiary, Branch Banking and Trust Company, Co. provides banking services to individuals, businesses and municipalities. Co. provides loans and lease financing, including commercial and residential mortgages; permanent commercial real estate financing arrangements; loan servicing for third-party investors; direct consumer finance loans to individuals; credit card lending; automobile financing; and equipment financing. Co. also provides other services, including deposits; discount and brokerage, annuities and mutual funds; life insurance, property and casualty insurance, health insurance and commercial general liability insurance. Preferreds: BBT.PRD, BBT.PRE, BBT.PRF, BBT.PRG, BBT.PRH Open the BBT Information Page » |
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