Synchrony Financial offers 500,000 depositary shares of 7.250% perpetual preferred stock at $1,000 each, raising $500 million

Filed June 3, 2026 · ~2 min read

Key Changes

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  Synchrony offers 500,000 depositary shares of Series C perpetual preferred stock with $1,000 liquidation preference each, raising $500 million for general corporate purposes including liquidity, debt refinancing, and financing receivables.

  The Offering verify on EDGAR →
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  The preferred stock pays 7.250% annual dividends until the First Reset Date (typically 5 years), then resets quarterly to the Five-Year Treasury rate plus 3.078%. Dividends are non-cumulative: if the board does not declare a dividend for any period, that dividend is permanently lost.

  The Offering verify on EDGAR →
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  Synchrony can redeem the preferred stock at par ($1,000 per share) plus declared unpaid dividends starting on the First Reset Date or any subsequent dividend date, subject to Federal Reserve approval. Holders cannot force redemption.

  The Offering verify on EDGAR →