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TCF Capital I, 10.75% Capital Securities, Series I (TCB-A)

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Last Post: 4/4/2011 9:48:01 PM - Followers: 1 - Board type: Free - Posts Today: 0

 

TCF Capital I, 10.75% Capital Securities, Series I
Ticker Symbol: TCB-A     CUSIP: 872273206     Exchange: NYSE
Security Type:   Trust Preferred Security
SECURITY DESCRIPTION:  TCF Capital I, 10.75% Capital Securities, Series I, liquidation amount $25 per share, guaranteed by TCF Financial Corp. (NYSE: TCB) (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 8/15/2013 at $25 per share plus accrued and unpaid dividends, and maturing 8/15/2068. Distributions of 10.75% ($2.6875) per annum are paid quarterly on 2/15, 5/15, 8/15 & 11/15 to holders of record on the record date which is one business day prior to the payment date while the securities remain in book-entry form (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 40 consecutive quarters without giving rise to an event of default (but not beyond the maturity date) and up to 20 consecutive quarters before the alternative payment mechanism takes effect. The trust's assets consist of the 10.75% Junior Subordinated Deferrable Interest Notes due 8/15/2068 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
NYSE
Chart
10.75%
$2.6875
$25.00
$25.00
8/15/2013
8/15/2068
WR / NR
1/21/11
2/15, 5/15, 8/15 & 11/15
Click for MW ExDiv Date
Click for Yahoo ExDiv Date
No
Goto Parent Company's Record (TCB)

 

IPO - 8/14/2008 - 4.00 Million Shares @ $25.00/share.    Link to IPO Prospectus
Previous Ticker Symbol: TCFPP    Changed: 9/15/08
Market Value $ 100 Million
Click for current TCB-A price quote from the NYSE

 

Company's Online Information Links
HOME PAGE:     http://www.tcfbank.com/
Company's Investor Relations Information Goto Investor Relations Information
Company's Online News Releases Goto News Releases
Online Company Profile Goto Online Profile
Company's Online Government Filings Links
Company's SEC EDGAR Filings Goto SEC Filings
Company's Email Address Links
Email Request Form on Website Goto Email Form

 

Address and Phone Numbers
Address:   200 Lake Street East, Wayzata, MN 55391
Main Phone Number 952-745-2760
Fax Number Not Available
Investor Contact   Jason Korstange 612-745-2755
Toll Free Phone Number 800-823-2265
CEO - Lynn A. Nagorske CFO - Thomas F. Jasper

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#1   http://www.profitspi.com/stock-chart-str.aspx?id=TCB-A&ca=1229428049 Soapy Bubbles 04/04/11 09:48:01 PM
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