Truist announces redemption of callable fixed rate notes due November 2026

Rhea-AI Summary

Truist Financial Corporation (NYSE: TFC) announced the redemption of all $17,200,000 of its callable fixed-rate notes due November 2, 2026, effective October 31, 2021. Investors will receive 100% of the principal amount plus accrued interest, with interest ceasing after the redemption date. As the redemption falls on a weekend, payments will be processed on the next business day, November 1, 2021, via The Depository Trust Company. Truist, headquartered in Charlotte, N.C., has significant market share across various financial services and total assets of $522 billion as of June 30, 2021.

Positive

• Redemption of $17,200,000 in callable fixed-rate notes reflects proactive financial management.
• Investors will receive full principal plus accrued interest, ensuring investor confidence.

Negative

• None.

CHARLOTTE, N.C., Sept. 22, 2021 /PRNewswire/ -- Truist Financial Corporation (NYSE: TFC) today announced it will redeem all $17,200,000 principal amount outstanding of its callable fixed rate notes due Nov. 2, 2026 (CUSIP 86802WBC1) on the redemption date of Oct. 31, 2021.

The redemption price for the notes will be equal to 100% of their principal amount plus accrued and unpaid interest to, but excluding, the redemption date. Interest on the notes will cease to accrue on and after the redemption date.

As the redemption date falls on a weekend, payment of the redemption price for the notes will be made the next business day, Nov. 1, 2021, through the facilities of The Depository Trust Company.

About Truist
Truist Financial Corporation is a purpose-driven financial services company committed to inspiring and building better lives and communities. Formed by the historic merger of equals of BB&T and SunTrust, Truist has leading market share in many high-growth markets in the country. The company offers a wide range of services including retail, small business and commercial banking; asset management; capital markets; commercial real estate; corporate and institutional banking; insurance; mortgage; payments; specialized lending; and wealth management. Headquartered in Charlotte, North Carolina, Truist is a top 10 U.S. commercial bank with total assets of $522 billion as of June 30, 2021. Truist Bank, Member FDIC.  Learn more at Truist.com.

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SOURCE Truist Financial Corporation

FAQ

What is the redemption date for Truist's callable fixed-rate notes?

The redemption date for the callable fixed-rate notes is October 31, 2021.

How much principal amount is Truist redeeming?

Truist is redeeming a total principal amount of $17,200,000.

When will investors receive payment for the redeemed notes?

Investors will receive payment on the next business day, November 1, 2021.

What will the redemption price be for the callable notes?

The redemption price will equal 100% of the principal amount plus accrued and unpaid interest.

What are the financial assets of Truist as of June 30, 2021?

As of June 30, 2021, Truist has total assets of $522 billion.