Truist announces redemption of Series L Depositary Shares

Core Viewpoint - Truist Financial Corporation has announced the full redemption of its Perpetual Preferred Stock, Series L, and related depositary shares, effective December 16, 2024 [1][2]. Group 1: Redemption Details - The Company will redeem the Preferred Stock at a cash redemption price of $100,000 per share, plus any accrued and unpaid dividends up to the Redemption Date [2]. - The Series L Depositary Shares will be redeemed for $1,000 per depositary share, which is 1/100th of the Preferred Stock Redemption Price, also plus any accrued and unpaid dividends [2]. - Regular dividends for the Preferred Stock and Series L Depositary Shares will be paid to holders of record as of November 8, 2024 [2]. Group 2: Post-Redemption Status - After the Redemption Date, the Preferred Stock and Series L Depositary Shares will no longer be outstanding, and all rights of the holders will cease [3]. - Regular quarterly dividends for both the Preferred Stock and Series L Depositary Shares will be paid on December 16, 2024 [3]. Group 3: Company Overview - Truist Financial Corporation is a purpose-driven financial services company with total assets of $523 billion as of September 30, 2024 [4]. - The Company operates as a leading U.S. commercial bank, offering a wide range of financial products and services [4].