Company: MFAN
Filing Date: 2025-08-15
Form Type: 424B5
Source: 0001104659-25-079260
Chunk: 28

Company: MFA FINANCIAL, INC.
Filing Date: 2025-08-15
Form: 424B5
Chunk 28
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 C Preferred Stock and the applicability of the Adjustable Interest Rate (LIBOR) Act of 2021 (the “LIBOR Act”) to the Series C Preferred Stock, the calculation agent for the Series c Preferred Stock determined that Three-Month CME Term SOFR (as defined in “The Series C Preferred Stock — Dividends”) plus the applicable tenor spread adjustment of 0.26161% per annum has replaced three-month LIBOR as the successor base rate for calculations of the dividend rate payable on the Series C Preferred Stock during the Series C Preferred Stock’s Floating Rate Period (as defined in “The Series C Preferred Stock — Dividends”).

SOFR is published by the Federal Reserve Bank of New York (“FRBNY”) and is intended to be a broad measure of the cost of borrowing cash overnight collateralized by U.S. Treasury securities. FRBNY states on its publication page for SOFR that use of SOFR is subject to important disclaimers, limitations and indemnification obligations, including that FRBNY may alter the methods of calculation, publication schedule, rate revision practices or availability of SOFR at any time without notice. FRBNY started publishing SOFR in April 2018, and, therefore, it has a limited history. FRBNY also began publishing historical indicative SOFRs dating back to 2014, although this historical indicative data inherently involves assumptions, estimates and approximations. The future performance of SOFR cannot be predicted based on this limited historical performance, and you should not rely on this historical indicative data or on any historical changes or trends in SOFR as an indicator of the future performance of SOFR.

SOFR may be more volatile than other benchmark or market rates.

Since the initial publication of SOFR, daily changes in the rate have, on occasion, been more volatile than daily changes in comparable benchmark or market rates, and SOFR over time may bear little or no relation to the historical actual or historical indicative data. The return on and value of the SOFR-linked Preferred Stock, may fluctuate more than floating rate securities that are linked to less volatile rates. In addition, the volatility of SOFR has reflected the underlying volatility of the overnight U.S. Treasury repurchase agreement (“repo”) market. The FRBNY has at times conducted operations in the overnight U.S. Treasury repo market in order help maintain the federal funds rate within a target range. There can be no assurance that the FRBNY will continue to conduct such operations in the future, and the duration