PreferredStockChannel
TCF Financial Corp (New) | 5.70% Series C Non-Cumulative Perpetual Preferred Stock (TCF.PRD)

Prospectus excerpt:  TCF Financial Corporation is offering 7,000,000 depositary shares ("depositary shares"), each representing a 1/1,000th interest in a share of Series C Non-Cumulative Perpetual Preferred Stock, par value $0.01 per share, with a liquidation preference of $25,000 per share (equivalent to $25 per depositary share) (the "Series C Preferred Stock"). As a holder of depositary shares, you will be entitled to all proportional rights and preferences of the Series C Preferred Stock (including dividend, voting, redemption and liquidation rights). You must exercise such rights through the depositary. Dividends on the Series C Preferred Stock, if, as and when declared by our board of directors or a duly authorized committee thereof, will accrue and be payable on the liquidation preference amount, on a non-cumulative basis, quarterly in arrears on the 1st day of March, June, September and December of each year, commencing on December 1, 2017, at a rate per annum equal to 5.70%. If our board of directors or a duly authorized committee of the board has not declared a dividend on the Series C Preferred Stock before the dividend payment date for any dividend period, such dividend shall not be cumulative and shall not accrue or be payable for such dividend period, and we will have no obligation to pay dividends for such dividend period, whether or not dividends on the Series C Preferred Stock are declared for any future dividend period.

Full Prospectus PDF », TCF Page »

Series:C
Alternate symbology:TCF-D, TCF-PD, TCFprD
Redeemable?:Yes
Call Date:12/1/2022
Perpetual?:Yes
Cumulative?:No
Shares Offered:7,000,000
Liquidation Preference:$25
Original Coupon:5.70%
Pay Period:Quarterly
Pay Dates:1-Mar, 1-Jun, 1-Sep, 1-Dec
CDx3 Compliance Rating: Learn TCF.PRD's Rating
TCF Financial is a financial holding company. Through its subsidiary, TCF National Bank, Co. provides consumer and commercial banking, trust and wealth management, and leasing and lending products and services to consumers, small businesses and commercial customers. Co.'s segments are: Consumer Banking, which comprised of consumer and small businesses and includes retail banking, wealth management,residential and consumer lending, and business banking; Commercial Banking, which comprised of commercial and industrial, commercial real estate banking and lease financing; and Enterprise Services, which comprised of corporate treasury, corporate functions, and Co.

Preferred: TCF.PRD


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Name: 
TCF Financial Corp (New)
Website: 
www.tcfbank.com
Sector: 
Banking & Savings

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