Raymond James Announces Full Redemption of its Series B Preferred Stock and Related Depositary Shares

Rhea-AI Summary

Raymond James Financial (NYSE: RJF) announced that it will redeem all outstanding 80,500 shares of its 6.375% Fixed-to-Floating Rate Series B Non-Cumulative Perpetual Preferred Stock on January 2, 2026. Each preferred share will be redeemed at $1,000.00 and each related depositary share at $25.00. The stated redemption prices exclude any declared and unpaid dividends prior to the redemption date.

The redemption will also retire all corresponding depositary shares (NYSE: RJF PrB) held through DTC; payment will be made to DTC by Computershare and Computershare Trust Company, N.A. as redemption agents. The company has received necessary approvals for the redemption and, after the redemption, no Series B Preferred Stock or Series B Depositary Shares will remain outstanding.

Positive

• All 80,500 Series B preferred shares scheduled for redemption on Jan 2, 2026
• Redemption prices fixed at $1,000 per preferred and $25 per depositary share
• Company received all necessary approvals for the redemption

Negative

• One-time cash payment of $80,500,000 required on Jan 2, 2026

Insights

Capital structure analyst

Raymond James will redeem all Series B preferred shares on Jan 2, 2026, eliminating that class of preferred stock.

Raymond James Financial, Inc. will pay $1,000.00 per Series B preferred share and $25.00 per depositary share to redeem all 80,500 outstanding Series B Preferred Stock beginning on Jan 2, 2026. The redemption will remove this perpetual, non‑cumulative fixed‑to‑floating preferred issuance from the capital structure once Computershare and DTC process payments.

The principal business effect is a direct return of capital to holders and a simplification of the company's equity stack. This reduces outstanding preferred dividends after any declared unpaid amounts are paid, but does not by itself change common equity or reported earnings. Monitor cash needed for the redemption, the announced funding source, and any related disclosures around declared but unpaid dividends between Dec. 02, 2025 and the redemption date for clarity on near‑term cash flow impact.

St. Petersburg, Fla., Dec. 02, 2025 (GLOBE NEWSWIRE) -- On December 2, 2025, Raymond James Financial, Inc. (NYSE: RJF) announced that, on January 2, 2026, it will redeem all 80,500 outstanding shares of its 6.375% Fixed-to-Floating Rate Series B Non-Cumulative Perpetual Preferred Stock, par value $0.10 per share (the “Series B Preferred Stock”). The redemption of the Series B Preferred Stock will trigger the redemption of the related depositary shares, each representing a 1/40th interest of a share of Series B Preferred Stock (the “Series B Depositary Shares”) (NYSE: RJF PrB) (CUSIP: No. 754730 406). The redemption prices will be equal to $1,000.00 per share of Series B Preferred Stock and $25.00 per Series B Depositary Share. The redemption prices noted herein do not include declared and unpaid dividends, if any, prior to the redemption date. After giving effect to the redemption, no shares of Series B Preferred Stock or Series B Depositary Shares will remain outstanding.

The Series B Depositary Shares are held through The Depository Trust Company (“DTC”) and will be redeemed in accordance with the procedures of DTC. Payment to DTC for the Series B Depositary Shares will be made by Computershare Inc. and Computershare Trust Company, N.A., collectively, as redemption agent, in accordance with the Deposit Agreement governing the Series B Depositary Shares. The address for the redemption agent is as follows:

Computershare Trust Company, N.A.
Attn: Corporate Actions
150 Royall St.
Canton, MA 02021

Raymond James Financial, Inc. has received all necessary approvals for the redemption. This news release does not constitute a notice of redemption under the Articles of Amendment to Amended and Restated Articles of Incorporation governing the Series B Preferred Stock or the Deposit Agreement governing the Series B Depositary Shares and is qualified in its entirety by reference to the notice of redemption issued by Raymond James Financial, Inc.

About Raymond James Financial, Inc.

Raymond James Financial, Inc. (NYSE: RJF) is a leading diversified financial services company providing private client group, capital markets, asset management, banking and other services to individuals, corporations and municipalities. Total client assets are $1.75 trillion. Public since 1983, the firm is listed on the New York Stock Exchange under the symbol RJF. Additional information is available at www.raymondjames.com.

Forward Looking Statements

Certain statements made in this press release may constitute “forward-looking statements” under the Private Securities Litigation Reform Act of 1995. Forward-looking statements include information concerning future shareholder distributions. Forward-looking statements are not guarantees, and they involve risks, uncertainties and assumptions. Although we make such statements based on assumptions that we believe to be reasonable, there can be no assurance that actual results will not differ materially from those expressed in the forward-looking statements. We caution investors not to rely unduly on any forward-looking statements and urge you to carefully consider the risks described in our filings with the Securities and Exchange Commission (the “SEC”) from time to time, including our most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q, which are available at www.raymondjames.com and the SEC’s website at www.sec.gov. We expressly disclaim any obligation to update any forward-looking statement in the event it later turns out to be inaccurate, whether as a result of new information, future events, or otherwise.

Media Contact: Steve Hollister
Raymond James Financial
727.567.2824
mediarelations@raymondjames.com

Investor Contact: Kristina Waugh
Raymond James Financial
727.567.7654
investorrelations@raymondjames.com

FAQ

What redemption did Raymond James (RJF) announce on December 2, 2025?

Raymond James announced redemption of all 80,500 Series B preferred shares on Jan 2, 2026.

What is the redemption price per share for RJF Series B preferred and depositary shares?

Redemption prices are $1,000.00 per Series B preferred share and $25.00 per Series B depositary share.

How will RJF pay holders of Series B depositary shares (RJF PrB)?

Payment to DTC will be made by Computershare and Computershare Trust Company, N.A. as redemption agents.

Will any Series B preferred or depositary shares remain outstanding after the RJF redemption?

No; after the redemption on Jan 2, 2026, no Series B preferred or depositary shares will remain outstanding.

Does the RJF redemption price include unpaid dividends before the redemption date?

No; the stated redemption prices do not include declared and unpaid dividends, if any, prior to the redemption date.