Every 424B that Bread Financial Holdings, Inc. (BFH) has filed with the SEC in the last 12 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 424B covers the supplement that carries the terms of a priced offering, so if you follow BFH and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full BFH filings page.
Bread Financial is offering 4,800,000 depositary shares (each representing a 1/40th interest in a share of its Series B Preferred Stock), at a public offering price of $25.00 per depositary share, for total gross proceeds of $120,000,000. The depositary shares represent 120,000 shares of 8.875% Fixed Rate Reset Non-Cumulative Perpetual Preferred Stock, Series B.
The initial dividend is fixed at 8.875% per annum through the First Reset Date, with dividends payable quarterly beginning on September 15, 2026. After the First Reset Date the dividend rate will reset each five years to the Five-Year U.S. Treasury Rate plus 4.804%. Dividends are non-cumulative and payable only if declared by the Board and if funds are lawfully available.
Bread Financial granted the underwriters an option to purchase up to an additional 720,000 depositary shares to cover over-allotments. Net proceeds are intended for general corporate purposes, including potential contributions or loans to its subsidiary bank and share repurchases.
Bread Financial is offering depositary shares, each representing a 1/40th interest in a share of its Fixed Rate Reset Non-Cumulative Perpetual Preferred Stock, Series B, with a liquidation preference of $25 per depositary share (equivalent to $1,000 per share). Dividends, if declared, will be payable quarterly on March 15, June 15, September 15, and December 15, beginning on September 15, 2026. Dividends are non-cumulative and will reset on the First Reset Date of December 15, 2031 and each subsequent five-year reset period based on a stated formula tied to the Five-Year U.S. Treasury Rate plus a spread.
The Series B Preferred Stock is perpetual, ranks senior to common stock but junior to Bread Financial’s indebtedness, and may be optionally redeemed by the company on or after the First Reset Date or following a regulatory capital treatment event if Bread Financial becomes a Regulated Institution. Bread Financial intends to apply to list the depositary shares on the NYSE under the symbol BFH PrB. The prospectus supplement discloses that, as of March 31, 2026, total liabilities of Bread Financial and its subsidiaries were approximately $19.0 billion, and Bread Financial’s total liabilities were approximately $0.8 billion.
Bread Financial Holdings, Inc. is conducting a primary offering of 3,000,000 depositary shares, each representing a 1/40th interest in a share of its 8.625% Non-Cumulative Perpetual Preferred Stock, Series A, with a liquidation preference of $25 per depositary share. Dividends on the Series A Preferred Stock are non-cumulative and, when declared, are paid quarterly in arrears at a fixed rate of 8.625% per annum, beginning March 15, 2026. The preferred stock is perpetual, ranks senior to common stock but junior to debt, and may be redeemed at the company’s option on or after December 15, 2030 at $1,000 per preferred share (equivalent to $25 per depositary share), plus any declared and unpaid dividends. Bread Financial estimates net proceeds of approximately $71.5 million, which it intends to use for general corporate purposes, including possible capital contributions or loans to its bank subsidiary and share repurchases. The company plans to apply to list the depositary shares on the NYSE under the symbol “BFH PrA.”
Bread Financial Holdings, Inc. (BFH) is launching a primary offering of depositary shares, each representing a 1/40th interest in a new Series A Non-Cumulative Perpetual Preferred Stock. Each depositary share has a liquidation preference of $25, equivalent to $1,000 per share of preferred. The Series A pays fixed, non-cumulative quarterly dividends, when and if declared, on March 15, June 15, September 15 and December 15, starting March 15, 2026.
The preferred stock is perpetual, ranks senior to common stock but junior to all debt, and has very limited voting rights. Bread Financial may redeem it at its option on dividend payment dates on or after a specified date in 2030, and, if it ever becomes a regulated bank holding entity, following certain regulatory capital treatment events. The company plans to apply to list the depositary shares on the NYSE under the symbol “BFH PrA”. Net proceeds are intended for general corporate purposes, including possible contributions or loans to subsidiary Comenity Capital Bank and potential share repurchases.