Comerica issues $400M of 6.875% Series B Preferred Stock, net proceeds $392.2M

COMERICA INC

Issued 16M depositary shares (each 1/40th interest) at $25 liquidation preference per share, totaling $400M.
Dividend rate of 6.875% fixed-rate reset, non-cumulative perpetual preferred stock.
Net proceeds of approximately $392.2M after underwriting discount and expenses.
Underwriters include BofA Securities, J.P. Morgan, Morgan Stanley, and RBC Capital Markets.
Restrictions on common stock dividends or repurchases if preferred dividends are not paid.

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

COMERICA INC: Certificate of Designations establishing Series B Preferred Stock was filed, amending the Restated Certificate of Incorporation (effective 2025-08-07).

Change: charter amendment
Effective: 2025-08-07

Exact text from the filing

The Certificate of Designations became effective upon filing with the Secretary of State of the State of Delaware, and it amends the Company’s Restated Certificate of Incorporation, as amended.

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Source: SEC EDGAR

accession 0001193125-25-178963

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