NYSE:FHNBanks
Does Redeeming Series C Preferreds Reshape First Horizon’s Capital Mix And Investment Story (FHN)?
First Horizon Corporation has announced that on May 1, 2026 it will redeem all outstanding 6.600% Fixed-to-Floating Non-Cumulative Perpetual Preferred Stock, Series C, at US$25.00 per related depositary share (US$10,000 per preferred share equivalent), with no Series C securities remaining after redemption.
An interesting aspect of this move is how retiring an entire preferred series could alter First Horizon’s capital mix and future dividend obligations.
Next, we’ll examine how the full...