First Horizon Announces Public Offering of Depositary Shares Representing Series F Preferred Stock and Expected Redemption of...
April 28 2021 - 9:17AM
First Horizon Corporation (NYSE: FHN) (“First Horizon”) announced
today a public offering of depositary shares, each representing
1/4,000th interest in a share of its Non-Cumulative Perpetual
Preferred Stock, Series F, $100,000 liquidation preference per
share (equivalent to $25 per depositary share). First Horizon may
grant the underwriters a 30-day option to purchase additional
depositary shares solely to cover over-allotments, if any. First
Horizon intends to use the net proceeds of this offering to redeem
in full the outstanding shares of its Non-Cumulative Perpetual
Preferred Stock, Series A, and related depositary shares (NYSE: FHN
PRA); any remainder will be used for general corporate purposes.
Morgan Stanley & Co. LLC, BofA Securities, Inc., J.P. Morgan
Securities LLC, Keefe, Bruyette & Woods, Inc., RBC Capital
Markets, LLC and Wells Fargo Securities, LLC are acting as joint
book-running managers for the depositary shares offering.
The offering will be made under First Horizon’s shelf
registration statement filed with the Securities and Exchange
Commission (the “SEC”).
This press release is neither an offer to sell nor a
solicitation of an offer to buy depositary shares, nor shall there
be any offer or sale of depositary shares in any jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of such
jurisdiction. The offering of these securities will be made only by
means of a Prospectus and a related Prospectus Supplement. Copies
of the Prospectus and Preliminary Prospectus Supplement relating to
the depositary shares offering may be obtained free of charge on
the SEC’s website at www.sec.gov under First Horizon’s name or from
the joint book-running managers as follows: c/o Morgan Stanley
& Co. LLC, 180 Varick Street - New York, New York 10014, Attn:
Prospectus Department, by email: prospectus@morganstanley.com or by
telephone: (866) 718-1649; c/o BofA Securities, Inc.,
NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte,
North Carolina 28255-0001, Attn: Prospectus Department, by email:
dg.prospectus_requests@bofa.com or by telephone: (toll-free)
1-800-294-1322; c/o J.P. Morgan Securities LLC, 383 Madison Ave,
New York, New York 10179, Attn: Investment Grade Syndicate Desk or
by telephone: (212) 834-4533; c/o Keefe, Bruyette & Woods, A
Stifel Company, 787 Seventh Avenue, 4th Floor, New York, New York
10019, Attn: Capital Markets, or by email:
USCapitalMarkets@kbw.com; RBC Capital Markets, LLC, 200 Vesey
Street, 8th Floor, New York, NY 10281, email:
rbcnyfixedincomeprospectus@rbccm.com or telephone: (866) 375-6829;
or c/o Wells Fargo Securities, LLC, 608 2nd Avenue South, Suite
1000, Minneapolis, Minnesota 55402, Attn: WFS Customer Service, by
email: wfscustomerservice@wellsfargo.com or by telephone:
(toll-free) 1-800-645-3751.
About First Horizon
First Horizon Corp. (NYSE: FHN), with $84 billion in assets, is
a leading regional financial services company, dedicated to
strengthening the lives of our associates, clients, shareholders,
and communities. Headquartered in Memphis, TN, the banking
subsidiary First Horizon Bank operates in 12 states across the
Southeast. The Company and its subsidiaries offer commercial,
private banking, consumer, small business, wealth and trust
management, retail brokerage, capital markets, fixed income,
mortgage, and title insurance services. First Horizon is recognized
as one of the nation's best employers by Fortune and Forbes
magazines and a Top 10 Most Reputable U.S. bank. More information
is available at www.FirstHorizon.com.
Contact:
Investor Relations, Ellen Taylor (901) 523-4450
Media Relations, Beth Ardoin, (337) 278-6868
First Horizon (NYSE:FHN)
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