General Electric to redeem fixed-to-floating non-cumulative perpetual preferreds on Sept. 15

By Mary-Katherine Stinson

Lexington, Ky., July 25 – General Electric Co. will redeem all outstanding shares of its fixed-to-floating rate non-cumulative perpetual preferred stock, according to an 8-K filing with the Securities and Exchange Commission.

Covered under the redemption notice are the following: the fixed-to-floating rate non-cumulative perpetual preferred stock, series A (Cusip: 369604BM4); the fixed-to-floating rate non-cumulative perpetual preferred stock, series B (Cusip: 369604BN2), the fixed-to-floating rate non-cumulative perpetual preferred stock, series C (Cusip: 369604BP7) and the fixed-to-floating rate non-cumulative perpetual preferred stock, series D, (Cusip: 369604BQ5).

The preferreds will be redeemed at a redemption price of $1,000 per share on Sept. 15.

The company will use cash for the redemption.

The regular dividend payment for the preferreds is also due Sept. 15. It will be paid separately on that date to holders of record as of Aug. 31 at Libor plus an applicable spread in each case. For the series A preferreds, the spread will be 228 basis points, 232 bps for series B preferreds, 237 bps for the series C preferreds and 333 bps for the series D preferreds.

Dividends will cease to accrue on redeemed shares.

Questions about the notice of redemption and related materials should be directed to EQ Shareowner Services at (800)-786-2543.

General Electric is a digital industrial company based in Boston.

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