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Southwest Capital Trust II, 10.50% Trust Preferred Securities (OKSBP)

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Last Post: 7/26/2011 1:22:41 PM - Followers: 1 - Board type: Free - Posts Today: 0

Southwest Capital Trust II, 10.50% Trust Preferred Securities
Ticker Symbol: OKSBP     CUSIP: 84480C205     Exchange: NGS
Security Type:   Trust Preferred Security

 

QUANTUMONLINE.COM SECURITY DESCRIPTION:  Southwest Capital Trust II, 10.50% Trust Preferred Securities, liquidation amount $25 per share, guaranteed by Southwest Bancorp Inc. (Nasdaq: OKSB) (See our definition of Guaranteed in our Glossary of Income Investing Terms for the technicalities of the guarantee), redeemable at the issuer's option on or after 9/15/2013 at $25 per share plus accrued and unpaid dividends, and maturing 9/15/2038. Distributions of 10.50% ($2.625) per annum are paid quarterly on 3/15, 6/15, 9/15 & 12/15 to holders of record on the record date which is the 15th day prior to the payment date (NOTE: the ex-dividend date is at least 2 business days prior to the record date). Dividends paid by trust preferred securities are derived from interest paid to the underlying debt securities and therefore are NOT eligible for the 15% tax rate on dividends and are also NOT eligible for the dividend received deduction for corporate holders. The company has the right, at any time, to defer dividend payments for up to 20 consecutive quarters (but not beyond the maturity date). The trust's assets consist of the 10.50% Junior Subordinated Deferrable Interest Debentures due 9/15/2038 which were purchased from the company using the funds generated from the sale of the trust preferred securities. See the IPO prospectus for further information on the trust preferred securities by clicking on the 'Link to IPO Prospectus' provided below.
Stock
Exchange
Cpn Rate
Ann Amt
LiqPref
CallPrice
Call Date
Matur Date
Moodys/S&P
Dated
Distribution Dates 15%
Tax Rate
NGS
Chart
10.50%
$2.625
$25.00
$25.00
9/15/2013
9/15/2038
NF / NF
4/11/11
3/15, 6/15, 9/15 & 12/15
Click for MW ExDiv Date
Click for Yahoo ExDiv Date
No

Goto Parent Company's Record (OKSB)

 
IPO - 6/27/2008 - 1.20 Million Shares @ $25.00/share.    Link to IPO Prospectus

Company's Online Information Links
HOME PAGE:     http://www.oksb.com/
 
Company's Investor Relations Information Goto Investor Relations Information
Company's Online News Releases Goto News Releases
Online Company Profile Goto Online Profile


 

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