Comerica ends registration of 6.875% preferred shares
Comerica Incorporated, now merged into a Fifth Third Bancorp subsidiary, is ending SEC registration and reporting for its 6.875% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series B, and related depositary shares.
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Rhea-AI Filing Summary
Comerica Incorporated, now merged into a Fifth Third Bancorp subsidiary, is ending SEC registration and reporting for its 6.875% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series B, and related depositary shares. After the merger’s effective time, each Comerica preferred share and each 1/40th depositary share automatically became the right to receive an equivalent new Fifth Third Series M preferred share and corresponding Fifth Third depositary share, leaving no remaining holders of record of the Comerica instruments.
Insights
Comerica preferred and depositary shares shift to Fifth Third instruments and are deregistered.
The filing explains how Comerica’s 6.875% Series B preferred stock and its depositary shares cease to be standalone SEC-registered securities after Comerica’s merger into a Fifth Third Bancorp subsidiary. Holders instead receive economically similar Fifth Third Series M preferred and associated depositary shares.
This keeps coupon terms and hierarchy broadly comparable while moving investors into Fifth Third’s capital stack. The deregistration removes Comerica’s separate reporting obligations for these securities; future information for these preferred investors will come through Fifth Third’s ongoing disclosures and preferred stock terms.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What does Comerica (CMA) report in this Form 15-12G filing?
What happens to Comerica’s 6.875% Series B preferred stock after the merger?
Why is Comerica suspending its duty to file SEC reports for these securities?
What corporate transactions led to Comerica’s preferred stock deregistration?
AI-generated analysis. How Rhea-AI works. Not financial advice.