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| | The Issuer may redeem the Preferred Stock, at its option, subject to regulatory approval (if then required), at a price equal to $1,000 per share (equivalent to $25 per Depositary Share), plus any declared and unpaid dividends (without regard to any undeclared dividends) to but excluding the redemption date, (i) in whole or in part, from time to time, on any dividend payment date on or after the First Reset Date or (ii) in whole but not in part, at any time following a regulatory capital treatment event (as defined in the Preliminary Prospectus Supplement) |
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| | Application will be made to list the Depositary Shares on the New York Stock Exchange (the “NYSE”) under the symbol “RFPrF.” If approved for listing, trading of the Depositary Shares on the NYSE is expected to commence within the 30-day period after the original issuance date of the Depositary Shares |
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Underwriting Discounts and Commissions: | | $9,859,000, reflecting 10,960,000 Depositary Shares sold to institutional investors, for which the underwriters received an underwriting discount of $0.2500 per Depositary Share, and 9,040,000 Depositary Shares sold to retail investors, for which the underwriters received an underwriting discount of $0.7875 per Depositary Share |
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Net Proceeds to Issuer (after underwriting discounts and commissions, before offering expenses): | | |
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Joint Book-Running Managers: | | Morgan Stanley & Co. LLC BofA Securities, Inc. Goldman Sachs & Co. LLC J.P. Morgan Securities LLC RBC Capital Markets, LLC Regions Securities LLC |
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| | Academy Securities, Inc. Blaylock Van, LLC Samuel A. Ramirez & Company, Inc. R. Seelaus & Co., LLC |
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CUSIP/ISIN for the Depositary Shares: | | |
*An explanation of the significance of ratings may be obtained from the rating agencies. Generally, rating
agencies base their ratings on such material and information, and such of their own investigations, studies and
assumptions, as they deem appropriate. The rating of the Depositary Shares should be evaluated
independently from similar ratings of other securities. A credit rating of a security is not a recommendation to
buy, sell or hold securities and may be subject to review, revision, suspension, reduction or withdrawal at any
time by the assigning rating agency.
**It is expected that delivery of the Depositary Shares will be made in book-entry form only through the
facilities of The Depository Trust Company for the accounts of its participants, including Clearstream
Banking, S.A., and Euroclear Bank SA/NV, against payment in New York, New York on or about the fifth
business day following the Trade Date. Under Rule 15c6-1 of the Securities Exchange Act of 1934, trades of
securities in the secondary market generally are required to settle in one business day, referred to as T+1,
unless the parties to a trade agree otherwise. Accordingly, by virtue of the fact that the initial delivery of the
Depositary Shares will not be made on a T+1 basis, investors who wish to trade the Depositary Shares more
than one business day before the Settlement Date will be required to specify an alternative settlement cycle at
the time of any such trade to prevent a failed settlement.
The Depositary Shares are not deposits or obligations of a bank and are not insured or guaranteed by the
Federal Deposit Insurance Corporation or by any other government agency or instrumentality.