Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers W > Headlines for Wells Fargo & Co. > News item |
Charles Schwab sells $1,000-par preferreds; Bank of America higher; AT&T diverges
By James McCandless
San Antonio, April 27 – A new week began with an extension of the positive trend that marked the previous week.
In the primary market, Charles Schwab Corp. priced a $2.5 billion offering of $1,000-par series G fixed-rate reset non-cumulative perpetual preferred stock with a dividend of 5.375%.
At the top of the secondary, Bank of America Corp.’s 5% series LL and 6% series GG non-cumulative preferred stocks both pushed higher.
Elsewhere in the finance space, Wells Fargo & Co.’s 4.75% series Z non-cumulative perpetual class A preferred stock was lifted.
Sector peer Ally Financial, Inc.’s 8.125% series 2 fixed-to-floating rate trust preferred securities also strengthened.
Telecom services provider AT&T Inc.’s 5.35% global notes due 2066 rose while its 4.75% series C perpetual preferred stock slipped.
Meanwhile, REIT Pennsylvania REIT’s 7.2% series C cumulative redeemable perpetual preferreds received a boost.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.