Wintrust Financial Corp (IL) | 6.875% Dep Shares Rate Reset Non Cumul Prfd Stock Ser E (WTFCP)
Prospectus excerpt: We are offering to sell 10,000,000 depositary shares, each representing a 1/1,000th ownership interest in a share of 6.875% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series E, with a liquidation preference of $25,000 per share (equivalent to $25.00 per depositary share) of Wintrust Financial Corporation, which we refer to as the Preferred Stock. The depositary shares are represented by depositary receipts. As a holder of 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 such rights through the depositary. Dividends on the Preferred Stock will be payable when, as and if declared by our board of directors or a duly authorized committee of the board and to the extent that we have lawfully available funds to pay dividends. Dividends will accrue and be payable quarterly, in arrears, (i) from and including the original issuance date to, but excluding, July 15, 2025, at a rate equal to 6.875% per annum, on January 15, April 15, July 15 and October 15 of each year, beginning on October 15, 2020, and (ii) from and including July 15, 2025, during each reset period, at a rate per annum equal to the five-year treasury rate as of the most recent reset dividend determination date (as described elsewhere in this prospectus supplement) plus 6.507%, on January 15, April 15, July 15 and October 15 of each year, beginning on July 15, 2025, except in each case where such day is not a business day.
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