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All 350,000 Depositary Shares will be redeemed at a redemption price of $1,000 per Depositary Share on June 16, 2025.
BIRMINGHAM, Ala., May 09, 2025--(BUSINESS WIRE)--Regions Financial Corporation today announced the redemption on June 16, 2025, (the "Redemption Date") of 350,000 depositary shares (CUSIP: 7591EP AR1; ISIN: US7591EPAR12) (the "Depositary Shares") representing interests in Regions’ Non-Cumulative Perpetual Preferred Stock, Series D (the "Series D Preferred Stock").
Each Depositary Share represents a 1/100th interest in a share of the Series D Preferred Stock. All 350,000 Depositary Shares currently outstanding will be redeemed on the Redemption Date. On and after the Redemption Date, no Depositary Shares or shares of Series D Preferred Stock will remain outstanding, and dividends in respect of the Series D Preferred Stock will no longer accrue.
The Depositary Shares will be redeemed at a redemption price of $1,000 per Depositary Share (equivalent to $100,000 per share of Series D Preferred Stock) (the "Redemption Price"). The regular quarterly dividend on the Depositary Shares was separately declared and will be paid immediately prior to the redemption of the Depositary Shares on the Redemption Date to holders of record on the record date for such dividend payment in the customary manner. Accordingly, the Redemption Price does not include any accrued and unpaid dividends.
Simultaneously with the redemption of the Series D Preferred Stock, the outstanding Depositary Shares will be redeemed on the Redemption Date in accordance with the applicable procedures of Broadridge Corporate Issuer Solutions, LLC ("Broadridge"), for an amount per Depositary Share equal to the Redemption Price. All Depositary Shares are held in book-entry form through Broadridge. Broadridge’s contact information is as follows:
51 Mercedes Way
Edgewood, NY 11717
1-631-392-5830
Investors in the Depositary Shares should contact the bank or broker through which they hold a beneficial interest in the Depositary Shares for information about obtaining the Redemption Price for the shares of Depositary Shares in which they have a beneficial interest.
About Regions Financial Corporation
Regions Financial Corporation (NYSE:RF), with $160 billion in assets, is a member of the S&P 500 Index and is one of the nation’s largest full-service providers of consumer and commercial banking, wealth management, and mortgage products and services. Regions serves customers across the South, Midwest and Texas, and through its subsidiary, Regions Bank, operates approximately 1,250 banking offices and more than 2,000 ATMs. Regions Bank is an Equal Housing Lender and Member FDIC. Additional information about Regions and its full line of products and services can be found at www.regions.com.