Summary
Public Storage (PSA) filed an 8-K on September 11, 2012, to announce the redemption of all its outstanding depositary shares representing interests in its 6.450% Cumulative Preferred Shares, Series X (PSAPrX). This redemption is set to occur on October 15, 2012. The company will pay $25 per depositary share, in addition to any accrued dividends from October 1, 2012, up to the redemption date. This action involves a total redemption amount of $120,000,000, excluding accrued dividends. Investors holding these preferred shares should be aware of the redemption date and the terms of payment. The press release detailing this event has been filed as an exhibit to the 8-K.
Key Highlights
- 1Public Storage is calling for the redemption of all outstanding depositary shares of its 6.450% Cumulative Preferred Shares, Series X (PSAPrX).
- 2The redemption date is scheduled for October 15, 2012.
- 3Each depositary share will be redeemed at a price of $25.
- 4In addition to the redemption price, holders will receive accrued dividends from October 1, 2012, through the redemption date.
- 5The total aggregate redemption amount for all depositary shares is $120,000,000, excluding accrued dividends.
- 6A press release announcing this redemption was issued on September 11, 2012, and filed as an exhibit.