Company: TFC
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0000092230-25-000020
Chunk: 261

Company: TRUIST FINANCIAL CORP
Filing Date: 2025-02-25
Form: 10-K
Item: Item 2
Chunk 261
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/2019(1)12/15/2024$173 $168 Variable(2)QuarterlySeries J12/6/2019(1)12/15/2024103 92 Variable(3)QuarterlySeries M12/6/2019(1)12/15/2027500 516 5.125 %(4)Semi-annually(8)Series N7/29/20199/1/20241,700 1,683 Variable(5)Semi-annuallySeries O5/27/20206/1/2025575 559 5.250 %QuarterlySeries P6/1/20209/1/20251,000 992 4.950 (6)Semi-annuallySeries Q6/19/20203/1/20301,000 992 5.100 (7)Semi-annuallySeries R8/3/20209/1/2025925 905 4.750 QuarterlyTotal  $5,976 $5,907  (1)Converted security from previously issued SunTrust preferred stock. Each outstanding share of SunTrust perpetual preferred stock was converted into the right to receive one share of an applicable newly issued series of Truist preferred stock having substantially the same terms as such share of SunTrust preferred stock.(2)Dividend rate is the greater of 4.00% or 3-month SOFR plus 0.79161%. Prior to the transition to SOFR, the dividend rate was the greater of 4.00% or 3-month LIBOR plus 0.530%.(3)Dividend rate is the greater of 4.00% or 3-month SOFR plus 0.90661%. Prior to the transition to SOFR, the dividend rate was the greater of 4.00% or 3-month LIBOR plus 0.645%.(4)Fixed dividend rate will reset on December 15, 2027, then dividend rate will be 3-month SOFR plus 3.04761%.(5)On each fifth anniversary of the rate reset date, the dividend rate is updated to the five-year U.S. Treasury rate plus 3.003%. Prior to the first rate reset on September 1, 2024, the dividend rate was fixed at 4.800%. (6)Fixed dividend rate