Truist announces redemption of subordinated notes due October 2026

Truist Bank (TFC) will redeem all $850 million principal amount of its fixed rate subordinated notes due October 30, 2026 on September 30, 2026.

Rhea-AI Summary

Truist Bank (TFC) will redeem all $850 million principal amount of its fixed rate subordinated notes due October 30, 2026 on September 30, 2026. The notes, identified by CUSIP 07330MAA5, will be redeemed at 100% of principal plus accrued and unpaid interest to, but excluding, the redemption date. Interest on the notes will stop accruing on and after September 30, 2026, and payment will be made through The Depository Trust Company.

Market Context

Before publication, TFC had declined 4%; USB, PNC and NU were also down, so the $850 million note re...

Analysis

Before publication, TFC had declined 4%; USB, PNC and NU were also down, so the $850 million note redemption was announced amid aligned peer weakness rather than a uniquely negative target move.

Key Figures

Principal amount redeemed: $850,000,000 Redemption price: 100% of principal amount Redemption date: Sept. 30, 2026 +1 more

Principal amount redeemed

$850,000,000

Fixed-rate subordinated notes

Redemption price

100% of principal amount

Plus accrued and unpaid interest

Redemption date

Sept. 30, 2026

Payment date for the subordinated notes

Stated maturity

Oct. 30, 2026

Subordinated notes due date

Key Terms

subordinated notes, cusip, redemption price

3 terms

subordinated notes financial

"redeem all $850,000,000 principal amount outstanding of its fixed rate subordinated notes"

Subordinated notes are loans companies issue that rank below other debts for repayment, meaning holders get paid only after higher-priority creditors if the issuer runs into trouble. Because they act like being farther back in line at a buffet, they usually offer higher interest to compensate for greater risk, so investors watch them for potential higher returns but also increased chance of loss and sensitivity to the issuer’s financial health.

cusip technical

"(CUSIP 07330MAA5) on the redemption date"

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.

View in glossary

redemption price financial

"The redemption price for the subordinated notes will be equal to 100%"

The redemption price is the amount of money a person receives when they sell or redeem a bond or investment before it matures. It’s important because it determines how much you get back and can affect your overall profit or loss on the investment. Think of it like the price you get when returning a gift card early—it's the value you receive at that time.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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CHARLOTTE, N.C., Sept. 17, 2026 /PRNewswire/ -- Truist Bank (NYSE: TFC) today announced it will redeem all $850,000,000 principal amount outstanding of its fixed rate subordinated notes due Oct. 30, 2026, (CUSIP 07330MAA5) on the redemption date of Sept. 30, 2026.

The redemption price for the subordinated notes will be equal to 100% of the principal amount plus accrued and unpaid interest to, but excluding, the redemption date. Interest on the subordinated notes will cease to accrue on and after the redemption date.

Payment of the redemption price for the subordinated notes will be made through the facilities of The Depository Trust Company.

About Truist
Truist Financial Corporation is a purpose-driven financial services company committed to inspiring and building better lives and communities. Headquartered in Charlotte, North Carolina, Truist has leading market share in many of the high-growth markets in the U.S. and offers a wide range of products and services through wholesale and consumer businesses, including consumer and small business banking, commercial and corporate banking, investment banking and capital markets, wealth management, payments, and specialized lending businesses. Truist is a top-10 commercial bank with total assets of $556 billion as of June 30, 2026. Truist Bank, Member FDIC. Equal Housing Lender. Learn more at Truist.com.

View original content to download multimedia:https://www.prnewswire.com/news-releases/truist-announces-redemption-of-subordinated-notes-due-october-2026-302882455.html

SOURCE Truist Financial Corporation

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What price will holders receive for Truist's subordinated notes being redeemed?

Holders of the fixed rate subordinated notes due October 30, 2026 will receive a redemption price equal to 100% of the principal amount of their notes plus accrued and unpaid interest to, but excluding, the September 30, 2026 redemption date.

How and when will interest and payments be handled for the redeemed Truist notes?

Interest on the subordinated notes will cease to accrue on and after September 30, 2026. Payment of the redemption price will be made through the facilities of The Depository Trust Company on the redemption date.