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

News Market Reaction

-0.12%

1 alert

-0.12% News Effect

On the day this news was published, RJF declined 0.12%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Series B preferred shares: 80,500 shares Coupon rate: 6.375% Par value: $0.10 per share +5 more

8 metrics

Series B preferred shares 80,500 shares Outstanding Series B Preferred Stock to be redeemed on Jan 2, 2026

Coupon rate 6.375% Fixed-to-Floating Rate Series B Preferred Stock

Par value $0.10 per share Par value of Series B Preferred Stock

Redemption price per preferred $1,000.00 per share Redemption price for each Series B Preferred share

Redemption price per depositary share $25.00 per share Redemption price for each Series B Depositary Share

Interest per depositary share 1/40th of preferred share Each depositary share represents 1/40th interest in a preferred share

Redemption date January 2, 2026 Scheduled redemption of Series B Preferred and Depositary Shares

CUSIP 754730 406 CUSIP for RJF Series B Depositary Shares

Market Reality Check

Price: $169.02 Vol: Volume 1,431,258 is at 1....

normal vol

$169.02 Last Close

Volume Volume 1,431,258 is at 1.16x the 20-day average of 1,229,021 shares. normal

Technical Price at $163.91, trading above the 200-day MA $154.95 and 7.74% below the 52-week high.

Peers on Argus

RJF gained 1.22% with mixed peers: NTRS up 1.68%, STT up 0.63%, AMP up 0.40%, CG...

RJF gained 1.22% with mixed peers: NTRS up 1.68%, STT up 0.63%, AMP up 0.40%, CG up 0.12%, OWL down 2.30%, suggesting a stock-specific move around the preferred redemption.

Historical Context

5 past events · Latest: Dec 03 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Dec 03	Dividend & buyback	Positive	+2.4%	Higher common dividend and larger share repurchase authorization announced.
Dec 02	Preferred redemption	Neutral	-0.1%	Company called all Series B preferred and related depositary shares.
Nov 13	Advisor team hire	Positive	-2.9%	New advisor duo joined, bringing about $150 million in client assets.
Oct 31	Senior hire	Positive	+0.1%	Experienced wealth manager joined Global Wealth Solutions Group.
Oct 30	Advisor hire	Positive	-0.1%	Virginia advisor managing over $280 million moved to Raymond James.

Pattern Detected

Capital return actions, including dividends and repurchases, saw positive alignment, while advisor hiring announcements produced mixed or negative price reactions.

Recent Company History

Over recent months, Raymond James reported several growth and capital-return developments. On Dec 3, 2025, it raised the common dividend by 8% and expanded repurchase authorization to $2.0 billion, with the stock rising 2.4%. The same preferred redemption detailed in today’s release previously saw a modest -0.12% move. Multiple advisor hires managing over $150 million and $280 million in assets showed mixed market reactions, indicating that strategic personnel news has not consistently driven upside.

Market Pulse Summary

This announcement detailed the full redemption of Raymond James’s Series B preferred stock and corre...

Analysis

This announcement detailed the full redemption of Raymond James’s Series B preferred stock and corresponding depositary shares on January 2, 2026, at fixed prices of $1,000.00 per preferred share and $25.00 per depositary share. It follows a period where capital return actions, including an 8% common dividend increase and a $2.0 billion repurchase authorization, have been highlighted. Investors may focus on how this cleanup of preferred securities interacts with future dividend policy and buyback use.

Key Terms

fixed-to-floating rate, non-cumulative perpetual preferred stock, depositary shares, CUSIP, +2 more

6 terms

fixed-to-floating rate financial

"its 6.375% Fixed-to-Floating Rate Series B Non-Cumulative Perpetual Preferred Stock"

A fixed-to-floating rate is a type of loan or investment that starts with a fixed interest rate for a certain period, meaning the payments stay the same, then switches to a variable rate that can change over time based on market conditions. This matters because it offers the stability of fixed payments initially, but also the flexibility to benefit if interest rates drop later.

non-cumulative perpetual preferred stock financial

"6.375% Fixed-to-Floating Rate Series B Non-Cumulative Perpetual Preferred Stock"

Non-cumulative perpetual preferred stock is a type of investment that pays a fixed dividend forever, without a set end date. If the company skips some dividends in a year, you don’t get that money later, and it’s gone forever. It matters because investors get regular income but may miss out if the company faces financial trouble.

depositary shares financial

"the related depositary shares, each representing a 1/40th interest"

Depositary shares are tradable certificates that represent a fractional piece of a larger security held by a third-party bank, like owning a slice of a single big pie instead of the whole pie. They let companies issue and investors buy smaller, more affordable portions of preferred stock or other instruments; holders usually receive proportional dividends and market pricing similar to ordinary shares, but may have limited voting rights and different liquidity or tax implications, which can affect income and resale value.

CUSIP financial

"(NYSE: RJF PrB) (CUSIP: No. 754730 406)"

A CUSIP is a nine-character alphanumeric code that uniquely identifies a U.S. or Canadian financial security—such as a stock, bond, or fund share—like a Social Security number for an investment. It matters to investors because brokers, exchanges and record-keepers use the CUSIP to match trades, track ownership, settle transactions and pull accurate records, reducing errors and ensuring money and securities go to the right place.

the depository trust company financial

"The Series B Depositary Shares are held through The Depository Trust Company"

The Depository Trust Company is a large organization that safely manages and keeps electronic records of ownership for stocks, bonds, and other securities. It acts like a digital warehouse, making it easier and faster for investors to buy, sell, and transfer investments without needing physical paper certificates. This helps ensure transactions are secure, accurate, and completed smoothly.

redemption agent financial

"Computershare Inc. and Computershare Trust Company, N.A., collectively, as redemption agent"

A redemption agent is the third-party firm or bank that handles the paperwork and payments when investors cash out certain securities or funds. Think of it as the trusted cashier and record-keeper who confirms you’re entitled to money, arranges the transfer, and ensures rules are followed; its efficiency and reliability affect how quickly and safely investors actually receive proceeds and reduce the risk of administrative delays or errors.

AI-generated analysis. Not financial advice.

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.