(in the filing)upon the occurrence of a “regulatory capital treatment event,” = fancy words for judicial.
so
(in the filing)perpetual preferred
(in the filing)5.125%
(in the filing)500million for uwbkq
so 500,000,000 x 5.125% equals 25,625,000 per yr!
25,625,000 x the5yr equals..128,125,000
this is the number in FCNCA financials for "special equity vehicle"
so 128,125,000 divided by uwbkq shares 29,500,000 equals
$4.34!!! in "special dividends" payable in cash or shares from FCNCA
and we still own the depository shares........paid divis every 6mo until 2021 then it goes to quarterly. interest could go up or fluctuate.
so $21 in the end
I type this because if their is a tender offer at some point in time(like in the WAMU case) be careful. all of this in my opinion
