MCLEAN, Va., Oct. 18, 2021 /PRNewswire/ -- Capital One
Financial Corporation (NYSE: COF) (the "Company") today announced
that it will redeem all outstanding shares of its Fixed Rate
Non-Cumulative Perpetual Preferred Stock, Series G, $0.01 par value per share ("Series G
Preferred Stock"), and the corresponding depositary shares
representing fractional interests in the Series G Preferred
Stock ("Series G Depositary Shares").
The Series G Depositary Shares (NYSE: COF PRG, CUSIP:
14040H865), each representing a 1/40th interest in a share of
Series G Preferred Stock, will be redeemed simultaneously with
the redemption of the Series G Preferred Stock at a redemption
price of $25 per depositary share (equivalent to $1,000 per share of preferred stock). All 24
million outstanding Series G Depositary Shares will be
redeemed on December 1, 2021.
The Company also announced that it will redeem all outstanding
shares of its Fixed Rate Non-Cumulative Perpetual Preferred Stock,
Series H, $0.01 par value per share
("Series H Preferred Stock"), and the corresponding depositary
shares representing fractional interests in the Series H
Preferred Stock ("Series H Depositary Shares").
The Series H Depositary Shares (NYSE: COF PRH, CUSIP:
14040H840), each representing a 1/40th interest in a share of
Series H Preferred Stock, will be redeemed simultaneously with the
redemption of the Series H Preferred Stock at a redemption price of
$25 per depositary share (equivalent to $1,000 per share of preferred stock). All 20
million outstanding Series H Depositary Shares will be redeemed on
December 1, 2021.
When, as and if the payment of dividends on the outstanding
shares of the Series G Preferred Stock and Series H Preferred Stock
is declared by the Board of Directors of the Company, or an
authorized committee thereof, such dividends will be paid
separately on December 1, 2021 to
holders of record of such series as of the date specified in such
dividend declaration in the customary manner. Accordingly, the
redemption price for the Series G Preferred Stock and Series H
Preferred Stock will not include any accrued and unpaid dividends.
On and after the redemption date, all dividends on the shares of
Series G Preferred Stock and Series H Preferred Stock will
cease to accrue.
The Series G Depositary Shares and Series H Depositary
Shares are held through The Depository Trust Company ("DTC") and
will be redeemed in accordance with the procedures of DTC. Payment
to DTC for the Series G Depositary Shares and Series H
Depositary Shares will be made by Computershare Trust Company,
N.A., as redemption agent, in accordance with the Deposit Agreement
that governs the Series G Depositary Shares or Series H
Depositary Shares, respectively. The address for the redemption
agent is as follows:
Computershare Trust Company, N.A.
Attn: Corporate Actions
150 Royall St.
Canton, MA 02021
Forward-Looking Statements
Certain statements in this release may constitute
forward-looking statements, which involve a number of risks and
uncertainties. Capital One cautions readers that any
forward-looking information is not a guarantee of future
performance and that actual results could differ materially from
those contained in the forward-looking information due to a number
of factors, including those listed from time to time in reports
that Capital One files with the Securities and Exchange Commission,
including, but not limited to, the Annual Report on Form 10-K for
the year ended December 31, 2020.
About Capital One
Capital One Financial Corporation (www.capitalone.com) is a
financial holding company whose subsidiaries, which include Capital
One, N.A., and Capital One Bank (USA), N.A., had $306.3
billion in deposits and $423.4
billion in total assets as of June
30, 2021. Headquartered in McLean,
Virginia, Capital One offers a broad spectrum of financial
products and services to consumers, small businesses and commercial
clients through a variety of channels. Capital One, N.A. has
branches located primarily in New
York, Louisiana,
Texas, Maryland, Virginia, New
Jersey and the District of
Columbia. A Fortune 500 company, Capital One trades on the
New York Stock Exchange under the symbol "COF" and is included in
the S&P 100 index.
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SOURCE Capital One