secwatch.observer — SEC 8-K summary
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Issuer:     VALLEY NATIONAL BANCORP (VLY)
CIK:        0000714310
Form:       8-K
Filed at:   2024-08-05T23:59:59+00:00
Accession:  0001193125-24-193981
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 3.03, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Valley National issues 6M shares of 8.25% Fixed-Rate Reset Preferred Series C
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- Issued 6,000,000 shares of 8.250% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock (Series C) at $25 liquidation preference per share.
- Dividends fixed at 8.250% through September 29, 2029, then reset to 5-year UST rate plus 4.182% quarterly.
- Series C ranks senior to common stock and on parity with existing Series A and B preferred stock.
- Public offering underwritten by Morgan Stanley, BofA Securities, J.P. Morgan, UBS, Wells Fargo, and KBW.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/714310/000119312524193981/0001193125-24-193981-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/714310/000119312524193981/d874734d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-193981

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