First Republic's 5.5% series D preferreds admitted to trading on NYSE

By Tali David

Minneapolis, April 24 - The depositary shares of First Republic Bank's 5.5% noncumulative perpetual series D preferred stock have been admitted to trading on the New York Stock Exchange, according to a notice.

The stock trades under the symbol "FRC PR D."

The company priced $175 million of the preferreds on April 16.

The preferreds were issued as depositary shares representing a 1/40th interest.

As previously reported, Morgan Stanley & Co. LLC, BofA Merrill Lynch, Wells Fargo Securities LLC, Goldman Sachs & Co. and J.P. Morgan Securities LLC are the joint bookrunning managers.

Proceeds will be used for general corporate purposes, including funding loans or purchasing investment securities.

First Republic is a San Francisco-based private bank and wealth management company.

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