MCLEAN, Va., Oct. 21, 2019 /PRNewswire/ -- Capital One
Financial Corporation (NYSE: COF) today announced that it will
redeem all outstanding shares of its Fixed Rate Non-Cumulative
Perpetual Preferred Stock, Series C, $0.01 par value per share ("Series C Preferred
Stock"), and the corresponding depositary shares representing
fractional interests in the Series C Preferred Stock ("Series C
Depositary Shares"). Capital One will also redeem all outstanding
shares of its Fixed Rate Non-Cumulative Perpetual Preferred Stock,
Series D, $0.01 par value per share
("Series D Preferred Stock"), and the corresponding depositary
shares representing fractional interests in the Series D Preferred
Stock ("Series D Depositary Shares").
The Series C Depositary Shares (NYSE: COF PRC, CUSIP:
14040H600), each representing a 1/40th interest in a share of
Series C Preferred Stock, and the Series D Depositary Shares (NYSE:
COF PRD, CUSIP: 14040H709), each representing a 1/40th interest in
a share of Series D Preferred Stock, will be redeemed
simultaneously with the redemption of the respective Series C
Preferred Stock or Series D Preferred Stock, in each case at a
redemption price of $25 per
depositary share (equivalent to $1,000 per share of preferred stock). All 20
million outstanding Series C Depositary Shares, and all 20 million
outstanding Series D Depositary Shares, will be redeemed on the
dividend payment date of December 2,
2019.
Regular dividends on the outstanding shares of the Series C
Preferred Stock of $15.625 per share
(equivalent to $0.390625 per Series C
Depositary Share) and regular dividends on the outstanding shares
of the Series D Preferred Stock of $16.750 per share (equivalent to $0.41875 per Series D Depositary Share) will be
paid separately to holders of record as of the close of business on
November 15, 2019, in the customary
manner. Accordingly, the redemption price for the Series C
Preferred Stock and the redemption price for the Series D Preferred
Stock will not include any accrued and unpaid dividends. On and
after the redemption date, all dividends on the shares of Series C
Preferred Stock and all dividends on the shares of Series D
Preferred Stock will cease to accrue.
The Series C Depositary Shares and the Series D Depositary
Shares are held through The Depository Trust Company ("DTC") and
will be redeemed in accordance with the procedures of DTC. Payment
to DTC for the Series C Depositary Shares and the Series D
Depositary Shares will be made by Computershare Trust Company,
N.A., as redemption agent, in accordance with the Deposit
Agreements that govern the Series C Depositary Shares and Series D
Depositary Shares. The address for the redemption agent is as
follows:
Computershare Trust Company, N.A.
Attn: Corporate Actions
150 Royall St.
Canton, MA 02021
Forward-Looking Statements
Certain statements in this
release may constitute forward-looking statements, which involve a
number of risks and uncertainties. Capital One cautions readers
that any forward-looking information is not a guarantee of future
performance and that actual results could differ materially from
those contained in the forward-looking information due to a number
of factors, including those listed from time to time in reports
that Capital One files with the Securities and Exchange Commission,
including, but not limited to, the Annual Report on Form 10-K for
the year ended December 31, 2018.
About Capital One
Capital One Financial
Corporation (www.capitalone.com) is a financial holding company
whose subsidiaries, which include Capital One, N.A., and Capital
One Bank (USA), N.A., had
$254.5 billion in deposits and
$373.6 billion in total assets as of
June 30, 2019. Headquartered in
McLean, Virginia, Capital One
offers a broad spectrum of financial products and services to
consumers, small businesses and commercial clients through a
variety of channels. Capital One, N.A. has branches located
primarily in New York,
Louisiana, Texas, Maryland, Virginia, New
Jersey and the District of
Columbia. A Fortune 500 company, Capital One trades on the
New York Stock Exchange under the symbol "COF" and is included in
the S&P 100 index.
Visit the Capital One newsroom for more Capital One news.
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SOURCE Capital One Financial Corporation