Summary
Fifth Third Bancorp (FITB) has announced the early redemption of its subsidiary Fifth Third Bank's outstanding 3.850% Subordinated Notes due March 15, 2026. The redemption is scheduled for February 13, 2026, approximately one month ahead of the original maturity date. The total principal amount being redeemed is $750 million, plus any accrued and unpaid interest up to the redemption date. This action is being taken under the initial optional redemption provisions outlined in the notes.
Key Highlights
- 1Fifth Third Bancorp is redeeming $750 million in subordinated notes prior to maturity.
- 2The redemption date is February 13, 2026.
- 3The notes being redeemed are the 3.850% Subordinated Notes due March 15, 2026.
- 4The redemption is being executed by Fifth Third Bank, National Association.
- 5This redemption will result in no outstanding subordinated notes of this series.
- 6The redemption price will be the principal amount plus accrued interest.
Frequently Asked Questions
The company is exercising its initial optional redemption provisions, allowing them to redeem the notes prior to their scheduled maturity date of March 15, 2026. Specific strategic or financial reasons for this early redemption are not detailed in this filing but could relate to optimizing capital structure or interest rate management.
The total principal amount of the Subordinated Bank Notes being redeemed is $750 million. This amount will be paid along with any accrued and unpaid interest up to, but not including, the redemption date of February 13, 2026.
The Bank of New York Mellon Trust Company, N.A., acting as the issuing and paying agent, will facilitate the redemption payments. Registered holders of the Subordinated Bank Notes will receive the Redemption Price upon presentation and surrender of their notes to the Agent.
No, interest on the Subordinated Bank Notes will cease to accrue on and after the redemption date of February 13, 2026.