PreferredStockChannel
Synovus Financial Corp | 6.300% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series D (SNV.PRD)

Prospectus excerpt:  We are offering 8,000,000 shares of Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series D, no par value, with a liquidation preference of $25 per share (the ìPreferred Stockî). We will pay dividends on the Preferred Stock, when, as, and if declared by our board of directors or a duly authorized committee of our board. From the date of issuance to, but excluding, June 21, 2023, we will pay dividends, when, as, and if declared by our board or such committee at a rate of 6.300% per annum, payable quarterly, in arrears, on March 21, June 21, September 21 and December 21 of each year beginning on September 21, 2018 and ending on June 21, 2023. From and including June 21, 2023, we will pay dividends, when, as, and if declared by our board or such committee at a floating rate equal to three-month LIBOR plus a spread of 3.352% per annum, payable quarterly, in arrears, on March 21, June 21, September 21 and December 21 of each year, beginning on June 21, 2023. Dividends on the Preferred Stock will not be cumulative. If our board of directors or a duly authorized committee of the board does not declare a dividend on the Preferred Stock in respect of a dividend period, then no dividend shall be deemed to have accrued for such dividend period, be payable on the applicable dividend payment date, or be cumulative, and we will have no obligation to pay any dividend for that dividend period, whether or not our board of directors or a duly authorized committee of our board declares a dividend on the Preferred Stock for any future dividend period.

Full Prospectus PDF », Secondary Prospectus PDF », SNV Page »

Series:D
Alternate symbology:SNV-D, SNV-PD, SNVprD
Redeemable?:Yes
Call Date:6/21/2023 (Now Trading Post Call Date)
Perpetual?:Yes
Cumulative?:No
Shares Offered:8,000,000
Liquidation Preference:$25.00
Recent Market Price:$25.25
Premium to Liquidation Preference:
(More Preferreds Trading at a Premium »)
$0.25 (1.00%)
Annualized Dividend:2.27204
Recent Ex-Date:3/14/2024
Current Yield:9.00%
Original Coupon:6.30%
Pay Period:Quarterly
Pay Dates:21-Mar, 21-Jun, 21-Sep, 21-Dec
CDx3 Compliance Rating: Learn SNV.PRD's Rating
Synovus Financial is a financial services company and a bank holding company. Through its subsidiary bank, Synovus Bank, Co. provides commercial and consumer services. Co.'s commercial banking services include treasury management, asset management, capital markets services, institutional trust services and commercial, financial and real estate loans. Co.'s consumer banking services include accepting customary types of demand and savings deposits accounts; mortgage, installment and other consumer loans; investment and brokerage services; safe deposit services; automated banking services; automated fund transfers; Internet-based banking services; and bank credit and debit card services.

Preferreds: SNV.PRT, SNV.PRC, SNV.PRD, SNV.PRE


Open the SNV Information Page »
Name: 
Synovus Financial Corp
Website: 
www.synovus.com
Sector: 
Banking & Savings
Number of ETFs Holding SNV: 
69 (see which ones)
Total Market Value Held by ETFs: 
$1,122,195,037
Total Market Capitalization: 
$5,636,000,000
% of Market Cap. Held by ETFs: 
19.91%

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