ClearBridge Energy Fund Series J preferred redeemed
Corebridge Financial, Inc. reported disposition transactions in this Form 4 filing.
Rhea-AI Filing Summary
Corebridge Financial, Inc. reported disposition transactions in this Form 4 filing.
Corebridge Financial, Inc. and subsidiary American General Life Insurance Company reported that 134,286 shares of ClearBridge Energy Midstream Opportunity Fund’s Series J Mandatory Redeemable Preferred Stock were redeemed by the issuer at maturity at $35.23 per share (including a $35.00 liquidation value plus about $0.23 accrued interest), leaving them with no Series J holdings. They continue to hold 160,000 shares of Series P Mandatory Redeemable Preferred Stock and indirect positions in 3.56% Series N Notes due June 11, 2027 and 3.76% Series O Notes due June 11, 2030, including principal amounts of $1,380,371.82 and $671,532.25, respectively.
Positive
- None.
Negative
- None.
Insider Trade Summary
Other: 134,286 shares
Other
4 txns
Insider
Corebridge Financial, Inc., AMERICAN GENERAL LIFE INSURANCE CO
Role
Insider | Insider
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Other | Series J Mandatory Redeemable Preferred Stock F1, F2 | 134,286 | $35.23 | $4.73M |
| holding | Series P Mandatory Redeemable Preferred Stock F2 | -- | -- | -- |
| holding | 3.56% Series N Senior Secured Notes due June 11, 2027 F2 | -- | -- | -- |
| holding | 3.76% Series O Senior Secured Notes due June 11, 2030 F3 | -- | -- | -- |
Holdings After Transaction:
Series J Mandatory Redeemable Preferred Stock — 0 shares (Indirect, Held through subsidiaries);
Series P Mandatory Redeemable Preferred Stock — 160,000 shares (Indirect, Held through subsidiary);
3.56% Series N Senior Secured Notes due June 11, 2027 — 0 shares (Indirect, Held through subsidiary);
3.76% Series O Senior Secured Notes due June 11, 2030 — 0 shares (Indirect, Held through subsidiaries)
Footnotes (3)
- F1. The outstanding shares of Series J Mandatory Redeemable Preferred Stock were redeemed by the issuer at maturity at a price equal to the liquidation value of $35.00 of the redeemed securities plus accrued interest of approximately $0.23 per share.
- F2. Directly held by American General Life Insurance Company ("AGLIC"), an indirect wholly owned subsidiary of Corebridge Financial, Inc. ("CRBG").
- F3. AGLIC and The United States Life Insurance Company in the City of New York, an indirect wholly owned subsidiary of CRBG, directly hold $1,380,371.82 principal amount and $671,532.25 principal amount of the reported securities, respectively.
Key Figures
Series J shares redeemed: 134,286 shares
Redemption price per Series J share: $35.23 per share
Series P preferred holdings: 160,000 shares
+2 more
5 metrics
Series J shares redeemed
134,286 shares
Series J Mandatory Redeemable Preferred Stock redeemed at maturity
Redemption price per Series J share
$35.23 per share
Includes $35.00 liquidation value plus about $0.23 accrued interest
Series P preferred holdings
160,000 shares
Series P Mandatory Redeemable Preferred Stock indirectly held through subsidiary
Series O notes principal (AGLIC)
$1,380,371.82
Principal amount of 3.76% Series O Senior Secured Notes held by AGLIC
Series O notes principal (US Life)
$671,532.25
Principal amount of 3.76% Series O Senior Secured Notes held by U.S. Life subsidiary
Key Terms
Mandatory Redeemable Preferred Stock, liquidation value, Senior Secured Notes, principal amount
4 terms
Mandatory Redeemable Preferred Stock financial
"Series J Mandatory Redeemable Preferred Stock were redeemed by the issuer"
liquidation value financial
"at a price equal to the liquidation value of $35.00 of the redeemed"
Liquidation value is the amount of cash that could be realized if a company’s assets were sold off quickly and its debts and sale costs were paid, usually yielding less than normal selling value. For investors it matters because it provides a practical “floor” or worst‑case estimate of what shareholders or creditors might recover in a bankruptcy or forced sale, helping gauge downside risk much like the cash you’d get from a hastily held garage sale versus a planned auction.
Senior Secured Notes financial
"3.56% Series N Senior Secured Notes due June 11, 2027"
Senior secured notes are loans a company sells to investors that are backed by specific assets and given first priority for repayment if the company defaults. Because they have a claim on collateral and are paid before other debts, they usually offer lower risk and correspondingly lower interest than unsecured debt; investors use them to judge how safe repayment and recovery of principal might be, like holding a mortgage instead of an unsecured credit card balance.
principal amount financial
"directly hold $1,380,371.82 principal amount and $671,532.25 principal"
The principal amount is the original sum of money that is borrowed, lent, or invested before any interest, fees, or returns are added. It matters to investors because interest charges, scheduled repayments, and total return are calculated from that base amount — think of it as the price tag on which future costs or gains are built. Knowing the principal helps you compare deals and predict cash flows and risk.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What EMO preferred stock holdings remain for Corebridge’s AGLIC after the Series J redemption?
After the redemption, the reporting entities show no Series J holdings but continue to indirectly hold 160,000 shares of ClearBridge Energy Midstream Opportunity Fund’s Series P Mandatory Redeemable Preferred Stock through an affiliated insurance company subsidiary.
Which EMO senior secured notes are reported as held by Corebridge subsidiaries?
Subsidiaries of Corebridge report indirect holdings of 3.56% Series N Senior Secured Notes due June 11, 2027 and 3.76% Series O Senior Secured Notes due June 11, 2030, with principal amounts of $1,380,371.82 and $671,532.25 in the Series O notes held by two entities.
Was the EMO Form 4 transaction reported under a Rule 10b5-1 trading plan?
The Form 4’s Rule 10b5-1 checkbox is not marked as applicable, and the footnotes do not reference any trading plan; the main event is an issuer-initiated redemption of mandatory redeemable preferred shares at their stated liquidation value plus accrued interest.
AI-generated analysis. How Rhea-AI works. Not financial advice.
