PreferredStockChannel
First Horizon Corp | Non-Cumulative Perpetual Preferred Stock, Series A (FHN.PRA)

This preferred is marked as having been called.
Prospectus excerpt:  Each of the 4,000,000 depositary shares offered hereby represents a 1/4,000th ownership interest in a share of Non-Cumulative Perpetual Preferred Stock, Series A (the ˘Series A Preferred Stock÷), $100,000 liquidation preference per share (equivalent to $25 per depositary share), of First Horizon National Corporation, deposited with Wells Fargo Bank, N.A., as depositary. The depositary shares are evidenced by depositary receipts. As a holder of depositary shares, you are entitled to all proportional rights and preferences of the Series A Preferred Stock (including dividend, voting, redemption and liquidation rights). You must exercise such rights through the depositary.

Holders of Series A Preferred Stock will be entitled to receive dividend payments only when, as and if declared by our board of directors and to the extent that we have legally available funds to pay dividends. Any such dividends will be payable from the date of original issue, in arrears on each January 10, April 10, July 10 and October 10, commencing April 10, 2013, at a rate per annum equal to 6.20%. Payment of dividends on the Series A Preferred Stock is subject to certain legal, regulatory and other restrictions as described elsewhere in this prospectus supplement.

Dividends on the Series A Preferred Stock will not be cumulative. This means that if we do not declare a dividend on Series A Preferred Stock for any dividend payment date, then that dividend will not accrue or be payable. In other words, if we have not declared a dividend before the dividend payment date for any dividend period, we will have no obligation to pay dividends for that dividend period, whether or not dividends on the Series A Preferred Stock are declared for any future dividend period.

We may, at our option, redeem the Series A Preferred Stock (i) in whole or in part, from time to time, on any dividend payment date on or after April 10, 2018 or (ii) in whole, but not in part, at any time within 90 days of a Regulatory Capital Event, as described herein, in each case at a redemption price equal to $100,000 per share (equivalent to $25 per depositary share), plus any declared and unpaid dividends.

Full Prospectus PDF », FHN Page »

Series:A
Alternate symbology:FHN-A, FHN-PA, FHNprA
Redeemable?:Yes
Call Date:4/10/2018 (Now Trading Post Call Date)
Perpetual?:Yes
Cumulative?:No
Shares Offered:4,000,000
Liquidation Preference:$25
Recent Market Price:$25.38
Premium to Liquidation Preference:
(More Preferreds Trading at a Premium »)
$0.38 (1.52%)
Annualized Dividend:1.55
Recent Ex-Date:6/24/2021
Current Yield:6.11%
Original Coupon:6.20%
Pay Period:Quarterly
Pay Dates:10-Jan, 10-Apr, 10-Jul, 10-Oct
First Horizon is a bank holding company. Co. provides financial services primarily through its principal subsidiary, First Horizon Bank. Co.'s business segments include: regional banking, which provides financial products and services, including lending and deposit taking, to consumer and commercial clients primarily in the southern United States and other selected markets, as well as investment, wealth management, financial planning, trust and asset management services for consumer clients; and specialty banking, which includes asset-based lending, mortgage warehouse lending, commercial real estate, franchise finance, correspondent banking, equipment finance, mortgage, and title insurance.

Preferred: FHN.PRA


Open the FHN Information Page »
Name: 
First Horizon Corp
Website: 
www.firsthorizon.com
Sector: 
Banking & Savings
Number of ETFs Holding FHN: 
78 (see which ones)
Total Market Value Held by ETFs: 
$2,065,308,626.35
Total Market Capitalization: 
$10,379,000,000
% of Market Cap. Held by ETFs: 
19.90%

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