M&T Bank issues 30M depositary shares of 7.500% Series J Preferred Stock

M&T BANK CORP

Offering of 30M depositary shares, each representing 1/400th interest in Series J Preferred Stock, completed May 13, 2024.
Series J carries 7.500% non-cumulative dividend, $25 per depositary share liquidation preference ($10,000 per preferred share).
Dividends payable quarterly starting Sept 15, 2024; stock perpetual, redeemable on or after June 15, 2029.
Underwriting syndicate includes Morgan Stanley, BofA, J.P. Morgan, RBC, UBS, and Wells Fargo.

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

M&T BANK CORP: Certificate of Amendment filed to establish rights, preferences, and limitations of new Series J Preferred Stock (effective 2024-05-09).

Change: charter amendment
Effective: 2024-05-09

Exact text from the filing

On May 9, 2024, M&T filed with the New York State Department of State the Certificate of Amendment for the purpose of fixing the designations, preferences, limitations and relative rights of the Series J Preferred Stock.

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Source: SEC EDGAR

accession 0001193125-24-137273

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