U.S. Bancorp Announces Redemption of all outstanding Series B Preferred Shares of Firstar Realty, L.L.C.
December 01 2021 - 8:00AM
Business Wire
U.S. Bancorp today announced that Firstar Realty, L.L.C., a
subsidiary of U.S. Bancorp, will redeem on December 31, 2021 all
its outstanding 8.875% Series B Non-Cumulative Exchangeable
Preferred Shares, liquidation preference of $1,000 per share (the
“Series B Preferred Shares”). The redemption price for each Series
B Preferred Share will be equal to $1,000, plus an amount equal to
all accrued and unpaid dividends to, but excluding, the redemption
date of December 31, 2021 (the “Redemption Price”).
The Series B Preferred Shares are held in book-entry form
through The Depository Trust Company (“DTC”) and will be redeemed
in accordance with the procedures of DTC. Payment to DTC for the
Series B Preferred Shares will be made by Computershare Trust
Company, N.A. and Computershare Inc., as redemption agent (the
"Redemption Agent"). Upon redemption, the Series B Preferred Shares
will no longer be outstanding, and all rights with respect to such
stock will cease and terminate, except the right to payment of the
Redemption Price.
Holders of Series B Preferred Shares should contact their broker
or other intermediary for information regarding the redemption
process for the Series B Preferred Shares in which they hold a
beneficial interest. Questions relating to the redemption also may
be directed to the Redemption Agent at the following address and
telephone number: Computershare, 150 Royall Street, Canton, MA
02021; 1-800-546-5141.
This press release does not constitute a notice of redemption
under Firstar Realty, L.L.C.’s Operating Agreement governing the
Series B Preferred Shares and is qualified in its entirety by
reference to the notice of redemption issued by Firstar Realty,
L.L.C.
About U.S. Bancorp
U.S. Bancorp with nearly 70,000 employees and $567 billion in
assets as of September 30, 2021, is the parent company of U.S. Bank
National Association. The Minneapolis-based company serves millions
of customers locally, nationally and globally through a diversified
mix of businesses: Consumer and Business Banking; Payment Services;
Corporate & Commercial Banking; and Wealth Management and
Investment Services. The company has been recognized for its
approach to digital innovation, social responsibility, and customer
service, including being named one of the 2021 World’s Most Ethical
Companies. Learn more at usbank.com/about.
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version on businesswire.com: https://www.businesswire.com/news/home/20211201005110/en/
Investor contact: Jennifer Thompson, U.S. Bancorp Investor
Relations jen.thompson@usbank.com, 612.303.0778, @usbank_news
Media contact: Jeff Shelman, U.S. Bancorp Public Affairs and
Communications jeffrey.shelman@usbank.com, 612.303.9933,
@usbank_news
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