Valley National Bancorp Announces Redemption of $300,000,000 Aggregate Principal Amount of 3.00% Fixed-to-Floating Rate Subordinated Notes Due 2031
Valley National Bancorp Announces Redemption of $300,000,000 Aggregate Principal Amount of 3.00% Fixed-to-Floating Rate Subordinated Notes Due 2031
Valley National Bancorp (NASDAQ: VLY) will redeem all outstanding 3.00% Fixed-to-Floating Rate Subordinated Notes due 2031, with an aggregate principal of $300,000,000.
Valley National Bancorp (NASDAQ: VLY) will redeem all outstanding 3.00% Fixed-to-Floating Rate Subordinated Notes due 2031, with an aggregate principal of $300,000,000.
The Notes will be redeemed on June 15, 2026 at 100% of principal plus accrued and unpaid interest to, but excluding, the redemption date. Interest stops accruing after that date.
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Positive
Full redemption of $300,000,000 subordinated notes due 2031
Redemption at 100% of principal plus accrued and unpaid interest
No subordinated notes of this series will remain outstanding after June 15, 2026
Negative
Interest on the redeemed notes ceases to accrue after June 15, 2026 for noteholders
On May 15, the first trading day after this news, VLY closed 0.92% below the previous close.
Data tracked by StockTitan Argus for the May 15 session.
Market Context
This announcement details the full redemption of $300,000,000 of 3.00% fixed-to-floating subordinate...
Analysis
This announcement details the full redemption of $300,000,000 of 3.00% fixed-to-floating subordinated notes due 2031, with repayment at 100% of principal plus accrued interest on June 15, 2026. It follows the recent pricing of $500 million of 6.219% Tier 2 subordinated notes on May 11, 2026, underscoring an ongoing liability management theme. Investors may watch future filings and earnings for additional balance sheet and capital updates.
Key Figures
Redemption amount:$300,000,000Coupon rate:3.00%Redemption date:June 15, 2026+2 more
Redemption amount
$300,000,000
Aggregate principal of 3.00% subordinated notes redeemed in full
Coupon rate
3.00%
Fixed-to-floating rate subordinated notes due 2031
Redemption date
June 15, 2026
Date when notes are redeemed and interest ceases
Redemption price
100% of principal
Plus accrued and unpaid interest to, but excluding, redemption date
Announced timing and call details for Q1 2026 earnings release.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
subordinated notes, fixed-to-floating rate
2 terms
subordinated notesfinancial
"announced the redemption, in full, of its 3.00% Fixed-to-Floating 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.
fixed-to-floating ratefinancial
"its 3.00% Fixed-to-Floating Rate Subordinated Notes due 2031"
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.
NEW YORK, May 14, 2026 (GLOBE NEWSWIRE) -- Valley National Bancorp (NASDAQ:VLY) (“Valley”), the holding company for Valley National Bank, today announced the redemption, in full, of its 3.00% Fixed-to-Floating Rate Subordinated Notes due 2031 (the “Notes”) in an aggregate principal amount of $300,000,000. The redemption date for the Notes is June 15, 2026 (the “Redemption Date”). The Notes will be redeemed at a redemption price of 100% of the principal amount plus accrued and unpaid interest to, but excluding, the Redemption Date.
In accordance with the terms of the Notes, the holders of the Notes will receive notice of the redemption and further instructions and details related to the process of such redemption. Interest on the Notes will cease to accrue on and after the Redemption Date, and no Notes will remain outstanding following the redemption.
About Valley
As the principal subsidiary of Valley National Bancorp (NASDAQ: VLY), Valley National Bank is a regional financial institution with over $64 billion in assets. Founded in 1927, Valley has more than 220 branch locations and commercial offices nationwide and serves clients across New Jersey, New York, Florida, Alabama, California, Illinois, Pennsylvania and Arizona. Valley delivers a full range of consumer, commercial, and wealth management solutions designed to support everything from homeownership and business growth to long-term financial planning. Big enough to support complex financial needs and small enough to stay deeply connected, Valley is grounded in a relationship-led approach focused on understanding people first. That same relationship-led approach guides Valley’s commitment to community investment and responsible corporate citizenship. To learn more, visit www.valley.com or call the Valley Customer Care Center at 800-522-4100.
Forward-Looking Statements
The foregoing contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are not historical facts and include expressions about management’s expectations with respect to the redemption. Such forward-looking statements involve certain risks and uncertainties. Actual outcomes may differ materially from such forward-looking statements. Factors that may cause actual outcomes to differ materially from those contemplated by such forward-looking statements are included in Valley’s filings with the Securities and Exchange Commission, including Part I, Item 1A “Risk Factors” of Valley’s Annual Report on Form 10-K for the year ended December 31, 2025. Valley undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in its expectations, except as required by law. Although Valley believes that the expectations reflected in the forward-looking statements are reasonable, future results, levels of activity, performance and achievements cannot be guaranteed.
Contact:
Travis Lan Senior Executive Vice President and Chief Financial Officer (973) 686-5007
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did Valley National Bancorp (NASDAQ: VLY) announce on May 14, 2026 about its subordinated notes?
Valley National Bancorp announced it will redeem in full its 3.00% Fixed-to-Floating Rate Subordinated Notes due 2031. According to Valley, the aggregate principal amount being redeemed is $300,000,000, with holders receiving 100% of principal plus accrued and unpaid interest.
When is the redemption date for Valley National Bancorp’s 3.00% subordinated notes (VLY)?
The redemption date for Valley’s 3.00% Fixed-to-Floating Rate Subordinated Notes due 2031 is June 15, 2026. According to Valley, interest on the Notes will cease to accrue on and after this Redemption Date, and none of these Notes will remain outstanding.
At what price will Valley National Bancorp redeem its $300 million subordinated notes (VLY)?
Valley National Bancorp will redeem the Notes at 100% of the principal amount plus accrued and unpaid interest. According to Valley, this applies to the entire $300,000,000 aggregate principal of its 3.00% Fixed-to-Floating Rate Subordinated Notes due 2031.
How does the 2026 note redemption affect holders of Valley National Bancorp’s 3.00% subordinated notes?
Noteholders will receive 100% of principal plus accrued and unpaid interest up to, but excluding, June 15, 2026. According to Valley, interest will stop accruing after the Redemption Date and no Notes of this series will remain outstanding following redemption.
Will any of Valley National Bancorp’s 3.00% Fixed-to-Floating Rate Subordinated Notes (VLY) remain outstanding after June 15, 2026?
No, none of these subordinated notes will remain outstanding after the redemption. According to Valley, the entire $300,000,000 aggregate principal amount will be redeemed in full on June 15, 2026, and interest will cease to accrue thereafter.
What interest rate applies to the Valley National Bancorp subordinated notes being redeemed in 2026 (VLY)?
The subordinated notes being redeemed carry a 3.00% fixed-to-floating interest rate and mature in 2031. According to Valley, these 3.00% Fixed-to-Floating Rate Subordinated Notes will be fully redeemed on June 15, 2026 at 100% of principal plus accrued and unpaid interest.
