By Wendy Van Sickle
Columbus, Ohio, Dec. 16 – TriState Capital Holdings Inc. issued $125 million of 2.25% three-year fixed-to-floating rate notes to Raymond James Financial, Inc. on Wednesday, according to a filing with the Securities Exchange Commission.
Interest is fixed at 2.25% until Dec. 15, 2022 and will then float at SOFR plus 211 basis points.
After one year, the note is callable at par plus interest.
TriState Capital Holdings is a Pittsburgh-based bank for middle market companies and commercial real estate entities. Raymond James is slated to acquire TriState.
| Issuer: | TriState Capital Holdings Inc.
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| Amount: | $125 million
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| Issue: | Fixed-to-floating rate notes
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| Maturity: | Dec. 15, 2024
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| Coupon: | 2.25% until Dec. 15, 2022 then SOFR plus 211 bps
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| Call: | Starting Dec. 15, 2022 at par plus interest
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| Investor: | Raymond James Financial, Inc.
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| Settlement date: | Dec. 15
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| Distribution: | Private placement
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