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Invesco Mortgage Capital Inc | 7.50% Fixed-to-Floating Series C Cumulative Redeemable Preferred Stock (IVR.PRC)

Prospectus excerpt:  We are offering to the public 10,000,000 shares of our 7.50% Fixed-to-Floating Series C Cumulative Redeemable Preferred Stock, par value $0.01 per share, with a liquidation preference of $25.00 per share which we refer to in this prospectus supplement as the Series C Preferred Stock. This is the initial issuance of the Series C Preferred Stock. From, and including, the date of issuance to, but not including, September 27, 2027, we will pay cumulative dividends on the Series C Preferred Stock at an initial rate of 7.50% per annum based on the $25.00 per share liquidation preference, equivalent to $1.875 per share. From, and including, September 27, 2027 and thereafter, we will pay cumulative dividends on the Series C Preferred Stock at a floating rate equal to three-month LIBOR (as defined herein) as calculated on each applicable date of determination (as defined herein) plus a spread of 5.289% per annum based on the $25.00 per share liquidation preference. We will pay quarterly cumulative dividends on the Series C Preferred Stock, in arrears, on the 27th day of each March, June, September and December (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 may be paid on the next succeeding business day). The first dividend on the Series C Preferred Stock sold in this offering will be payable on December 27, 2017 and will be for more than a full quarter, covering the period from, and including, the date of issuance to but not including December 27, 2017, in the amount of $0.68229 per share.

Full Prospectus PDF », IVR Page »

Series:C
Alternate symbology:IVR-C, IVR-PC, IVRprC
Redeemable?:Yes
Call Date:9/27/2027
Perpetual?:Yes
Cumulative?:Yes
Shares Offered:10,000,000
Overallotment:1500000
Liquidation Preference:$25
Recent Market Price:$25.52
Premium to Liquidation Preference:
(More Preferreds Trading at a Premium »)
$0.52 (2.08%)
Annualized Dividend:1.8752
Recent Ex-Date:12/2/2021
Current Yield:7.35%
Original Coupon:7.50%
Pay Period:Quarterly
Pay Dates:27-Mar, 27-Jun, 27-Sep, 27-Dec
CDx3 Compliance Rating: Learn IVR.PRC's Rating
Invesco Mortgage Capital is a holding company and a real estate investment trust. Co. is primarily focused on investing in, financing and managing mortgage-backed securities and other mortgage related assets. Co. primarily invests in the following: residential mortgage-backed securities; commercial mortgage-backed securities; credit risk transfer securities; residential and commercial mortgage loans; and other real estate-related financing arrangements. Co. conducts its business through its wholly-owned subsidiary IAS Operating Partnership L.P. Co. is externally managed and advised by Invesco Advisers, Inc., Co.'s manager, an indirect wholly-owned subsidiary of Invesco Ltd.

Preferreds: IVR.PRA, IVR.PRB, IVR.PRC


Open the IVR Information Page »
Name: 
Invesco Mortgage Capital Inc
Website: 
www.invescomortgagecapital.com
Sector: 
REITs
Number of ETFs Holding IVR: 
51 (see which ones)
Total Market Value Held by ETFs: 
$279,135,738.6
Total Market Capitalization: 
$957,000,000
% of Market Cap. Held by ETFs: 
29.17%

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