---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-044482"
form_type: "8-K"
ticker: "SYF"
cik: "0001601712"
company_name: "Synchrony Financial"
filed_at: "2024-02-23T23:59:59+00:00"
generated_at: "2026-06-05T17:06:46.714015+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Synchrony issues 20M depositary shares of 8.250% Series B Perpetual Preferred Stock

## Summary
- Issued 20M depositary shares (each 1/40th interest) of 8.250% Fixed Rate Reset Non-Cumulative Perpetual Preferred Stock, Series B.
- Underwriters include Morgan Stanley, BofA, J.P. Morgan, RBC, and Wells Fargo per underwriting agreement dated Feb 15.
- Certificate of Designations filed Feb 22, establishing rights, preferences, and restrictions of Series B Preferred.
- Dividend restrictions on common and junior/preferred stock if Series B dividends are not paid for prior period.
- Total offering likely $500M based on $25 liquidation preference per depositary share.

## SEC filing metadata
- accession: 0001193125-24-044482
- form_type: 8-K
- ticker: SYF
- cik: 0001601712
- company_name: Synchrony Financial
- filed_at: 2024-02-23T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 3.03, 5.03, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1601712/000119312524044482/0001193125-24-044482-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1601712/000119312524044482/d745125d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-044482
- JSON: https://secwatch.observer/filing/0001193125-24-044482.json
- Plain text: https://secwatch.observer/filing/0001193125-24-044482.txt

## Key facts
- Governance Changes
  Synchrony Financial: Filed Certificate of Designations for Series B Preferred Stock, amending the Amended and Restated Certificate of Incorporation (effective 2024-02-22).
  - Change: charter amendment
  - Effective: 2024-02-22
  source text: The Certificate of Designations became effective upon filing with the Secretary of State of the State of Delaware and it amends the Company’s Amended and Restated Certificate of Incorporation.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1601712/000119312524044482/0001193125-24-044482-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.