PreferredStockChannel
Valley National Bancorp (NJ) | 5.50% Shares of Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series B (VLY.PRB)

Prospectus excerpt:  Valley National Bancorp is offering to sell 4,000,000 shares of Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series B, no par value per share, with a liquidation preference of $25 per share (the ˘Series B Preferred Shares÷). Dividends on the Series B Preferred Shares will be payable in arrears when, as and if declared by our board of directors or a duly authorized committee of the board, (i) from and including the original issuance date to, but excluding September 30, 2022, at a rate per annum equal to 5.50%, on March 30, June 30, September 30 and December 30 of each year, commencing on September 30, 2017 and ending on September 30, 2022, and (ii) from and including September 30, 2022, at an annual floating rate equal to three-month LIBOR plus a spread of 3.578%, on March 30, June 30, September 30 and December 30 of each year, commencing on September 30, 2022, except in each case where such day is not a business day as described under ˘Description of Series B Preferred Shares¨Dividends÷ on page S-26.

Full Prospectus PDF », VLY Page »

Series:B
Alternate symbology:VLY-B, VLY-PB, VLYprB
Redeemable?:Yes
Call Date:9/30/2022
Perpetual?:Yes
Cumulative?:No
Shares Offered:4,000,000
Liquidation Preference:$25
Original Coupon:5.50%
Pay Period:Quarterly
Pay Dates:30-Mar, 30-Jun, 30-Sep, 30-Dec
CDx3 Compliance Rating: Learn VLY.PRB's Rating
Valley National Bancorp is a bank holding company. Through its principal subsidiary, Valley National Bank (the Bank), Co. provides a suite of banking solutions through various commercial, retail, insurance and wealth management financial services products. The Bank provides a variety of banking services including automated teller machines, telephone and internet banking, remote deposit capture, overdraft facilities, drive-in and night deposit services, and safe deposit facilities. In addition, certain international banking services are available to customers including standby letters of credit, documentary letters of credit and related products, and certain ancillary services.

Preferreds: VLY.PRA, VLY.PRB


Open the VLY Information Page »
Name: 
Valley National Bancorp (NJ)
Website: 
www.valleynationalbank.com
Sector: 
Banking & Savings
Number of ETFs Holding VLY: 
68 (see which ones)
Total Market Value Held by ETFs: 
$1,326,306,186.08
Total Market Capitalization: 
$6,039,000,000
% of Market Cap. Held by ETFs: 
21.96%

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