Raymond James Financial, Inc. announced the full redemption of its Series B Preferred Stock and related depositary shares.
Redemption will occur on January 2, 2026, with all outstanding shares of the Series B Preferred Stock being redeemed.
The redemption prices are set at $1,000.00 per share of Series B Preferred Stock and $25.00 per Series B Depositary Share.
Redemption Details
Redemption of all 80,500 outstanding shares of 6.375% Fixed-to-Floating Rate Series B Non-Cumulative Perpetual Preferred Stock.
Series B Depositary Shares
Each representing a 1/40th interest of a share of Series B Preferred Stock (NYSE: RJF PrB).
Redemption Procedure
The Series B Depositary Shares are held through The Depository Trust Company ("DTC") and will be redeemed accordingly.
- The redemption will eliminate all outstanding Series B Preferred Stock and Series B Depositary Shares.
- This move indicates a strategic financial decision by Raymond James to manage its capital structure effectively.
Raymond James Financial, Inc. has successfully completed all necessary approvals for the redemption process, ensuring no remaining outstanding shares after the redemption.