E*TRADE Financial将发永续NC5优先股

Issuer: E*TRADE Financial Corporation Security: Non-cumulative perpetual preferred stock Format: SEC Registered UOP: finance the acquisition of Aperture New Holdings, Inc., the ultimate parent company of OptionHouse, Inc. & general corporation purposes Amount: $400 million Par value: $0.01 par value, with a liquidation preference of $1,000 per share Expected ratings: Ba3 (Moody’s) / BB- (S&P) Dividend structure: Fixed rate up to but excluding September 15, 2026 and floating rate thereafter Dividend payment: Semi-annually on March 15 and September 15, beginning March 15, 2017 and ending September 15, 2026, and thereafter quarterly on March 15, June 15, September 15, and December 15 Maturity: Perpetual DRD / QDI eligible: Yes Optional redemption: At par plus declared and unpaid dividends beginning on September 15, 2026 and on any dividend payment date thereafter; also within 90 days of a Regulatory Capital Treatment Event Voting rights: None, except with respect to certain change in the terms of the Series A Preferred Stock and in the case of certain dividend non-payments Joint bookrunners: Credit Suisse; Goldman Sachs & Co; J.P. Morgan; Morgan Stanley Listing: None