Synchrony Financial offers depositary shares in perpetual preferred stock at undisclosed rate

Filed June 2, 2026 · ~2 min read

Key Changes

• high

  Preliminary offering of depositary shares (1/100th of Series C perpetual preferred; $1,000 liquidation preference per depositary share). Initial dividend rate, reset spread, and offering size are not yet disclosed; First Reset Date is August 15, 2031.

  The Offering / cover view on EDGAR →
• high

  Dividends are non-cumulative and discretionary (undeclared dividends are permanently lost); Federal Reserve constraints apply. Quarterly pay dates begin August 15, 2026 if declared.

  Risk Factors verify on EDGAR →
• high

  Perpetual; holders cannot redeem. Issuer may redeem at par on/after the First Reset Date (August 15, 2031) or within 90 days of a regulatory capital treatment event, subject to Fed approval — do not expect redemption on any particular date.

  Risk Factors verify on EDGAR →