Old National Bancorp (Evansville, IN) | 7.00% Dep Shares Non-Cumul Preferred Stock Ser A (ONBPP)
Prospectus excerpt: We are offering 4,000,000 of our depositary shares (the "depositary shares"), each representing a 1/40th ownership interest in a share of our fixed rate non-cumulative perpetual preferred stock, series A, without par value (the "Preferred Stock"), with a liquidation preference of $1,000 per share of Preferred Stock (equivalent to $25 per depositary share). As a holder of the depositary shares, you will be entitled to all proportional rights and preferences of the Preferred Stock (including dividend, voting, redemption and liquidation rights). You must exercise any such rights through the depositary. Holders of Preferred Stock will be entitled to receive, only when, as and if declared by our Board of Directors, or a duly authorized committee thereof, and to the extent we have funds legally available for the payment of dividends, cash dividends at a rate equal to 7.000% per annum. When, as and if declared by our Board of Directors, or a duly authorized committee thereof, dividends will be payable from the date of issuance, quarterly in arrears, on February 20, May 20, August 20 and November 20 of each year, beginning on August 20, 2020 (each a "dividend payment date"). Upon payment of any dividends on the Preferred Stock, the depositary will distribute to holders of depositary shares a proportionate payment.
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