Annaly Capital Management Inc | 6.750% Series I Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock (NLY.PRI)
Prospectus excerpt: We are offering 16,000,000 shares of our 6.750% Series I Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, par value $0.01 per share, with a liquidation preference of $25.00 per share, or the Series I Preferred Stock. Holders of Series I Preferred Stock will be entitled to receive cumulative cash dividends (i) from and including the original issue date to, but excluding, June 30, 2024 at a fixed rate equal to 6.750% per annum of the $25.00 per share liquidation preference (equivalent to $1.6875 per annum per share) and (ii) from and including June 30, 2024, at a floating rate equal to three-month LIBOR plus a spread of 4.989% per annum of the $25.00 per share liquidation preference. Dividends will be payable quarterly in arrears on or about the last day of March, June, September and December of each year, when and as authorized and declared, beginning on September 30, 2019 (long first dividend period). Dividends will accumulate and be cumulative from, and including, the date of original issuance of the Series I Preferred Stock.
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Annaly Capital Management is an internally-managed real estate investment trust. Co. is capital manager with investment strategies across mortgage finance and corporate middle market lending. Co. owns a portfolio of real estate related investments, including mortgage pass-through certificates, collateralized mortgage obligations, credit risk transfer securities, other securities representing interests in or obligations backed by pools of mortgage loans, residential mortgage loans, mortgage servicing rights and corporate debt. Co.'s three investment groups are primarily comprised of the following: Annaly Agency Group; Annaly Residential Credit Group; and Annaly Middle Market Lending Group. Preferreds: NLY.PRA, NLY.PRC, NLY.PRE, NLY.PRD, NLY.PRF, NLY.PRG, NLY.PRI Open the NLY Information Page » |
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