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CYS Investments Inc | 7.50% Series B Cumulative Redeemable Preferred Stock (CYS.PRB)

Prospectus excerpt:  CYS Investments, Inc. is offering to the public 8,000,000 shares of its 7.50% Series B Cumulative Redeemable Preferred Stock, which we refer to in this prospectus supplement as the Series B Preferred Stock. This is an original issuance of the Series B Preferred Stock. We will pay quarterly cumulative dividends on the shares of the Series B Preferred Stock, in arrears, on the 15th day of each January, April, July and October commencing on July 15, 2013 (provided that if any dividend payment date is not a business day, then the dividend that would otherwise have been payable on that dividend payment date may be paid on the next succeeding business day) from, and including, the date of original issuance at 7.50% of the $25.00 per share liquidation preference per annum (equivalent to $1.875 per annum per share).

The Series B Preferred Stock will not be redeemable before April 30, 2018, except under circumstances where it is necessary to preserve our qualification as a real estate investment trust, or REIT, for federal income tax purposes and except as described below upon the occurrence of a Change of Control (as defined herein). On or after April 30, 2018, we may, at our option, redeem any or all of the shares of the Series B Preferred Stock at $25.00 per share plus any accumulated and unpaid dividends to, but not including, the redemption date. In addition, upon the occurrence of a Change of Control, we may, at our option, redeem any or all of the shares of Series B Preferred Stock within 120 days after the first date on which such Change of Control occurred at $25.00 per share plus any accumulated and unpaid dividends to, but not including, the redemption date. The Series B Preferred Stock has no stated maturity, is not subject to any sinking fund or mandatory redemption and will remain outstanding indefinitely unless repurchased or redeemed by us or converted into our common stock in connection with a Change of Control by the holders of Series B Preferred Stock.

Full Prospectus PDF », CYS Page »

Series:B
Alternate symbology:CYS-B, CYS-PB, CYSprB
Redeemable?:Yes
Call Date:4/30/2018 (Now Trading Post Call Date)
Perpetual?:Yes
Cumulative?:Yes
Shares Offered:8,000,000
Overallotment:1,200,000
Liquidation Preference:$25
Original Coupon:7.50%
Pay Period:Quarterly
Pay Dates:15-Jan, 15-Apr, 15-Jul, 15-Oct
CDx3 Compliance Rating: Learn CYS.PRB's Rating
CYS Investments is a specialty finance company classified as a Real Estate Investment Trust. Co. invests in residential mortgage-backed securities that are issued and the principal and interest of which are guaranteed by a federally chartered corporation or an agency of the U.S. government, collateralized by fixed rate single-family residential mortgage loans, adjustable-rate loans, which have coupon rates that reset monthly, or Hybrid ARMs, which have a coupon rate that is fixed for an initial period and then resets at regular intervals. Co. also invests in debt securities issued by the U.S. Department of the Treasury or a government-sponsored entity that are not backed by collateral.

Preferreds: CYS.PRA, CYS.PRB


Open the CYS Information Page »
Name: 
CYS Investments Inc
Website: 
www.cysinv.com
Sector: 
REITs

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