Capital One plans two tranches of fixed-to-floaters due 2029, 2034

Chicago, June 5 – Capital One Financial Corp. plans to price fixed-to-floating rate senior notes in two tranches due 2029 and 2034, according to a 424B5 filing with the Securities and Exchange Commission.

The interest rate will be fixed initially and will reset to a floating rate based on SOFR in 2028 for the 2029 notes and in 2033 for the 2034 notes.

The notes will be callable in whole at par on the date that is one year prior to the applicable maturity date.

Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and Capital One Securities, Inc. are the joint bookrunners.

Bank of New York Mellon Trust Co., NA is the trustee.

Davis Polk & Wardwell LLP will act as counsel for the issuer. Mayer Brown LLP will act as counsel for the underwriters.

Proceeds will be used for general corporate purposes.

Capital One is a bank holding company based in McLean, Va.

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