Raymond James Financial (RJF) has Series B preferred depositary shares removed from NYSE

Rhea-AI Filing Summary

Raymond James Financial Inc. is having a specific class of its securities removed from listing and registration on the New York Stock Exchange LLC. The affected security is the company’s Depositary Shares, each representing a 1/40th interest in a share of 6.375% Fixed-to-Floating Rate Series B Non-Cumulative Perpetual Preferred Stock. The NYSE filed Form 25 to certify that it has met the requirements under Section 12(b) of the Securities Exchange Act of 1934 and applicable SEC rules to strike this class of securities from listing and/or withdraw its registration.

Insights

Equity and listing structure analyst

NYSE is delisting a Raymond James preferred depositary share class.

The action concerns Raymond James Financial Inc. Depositary Shares, each representing a 1/40th interest in a 6.375% Fixed-to-Floating Rate Series B Non-Cumulative Perpetual Preferred Stock. The New York Stock Exchange LLC filed Form 25, which is the formal step to remove this class from listing and/or registration under Section 12(b) of the Securities Exchange Act of 1934.

The text states that the Exchange has complied with its own rules and the requirements of 17 CFR 240.12d2-2 for striking or withdrawing the class. It also notes that the issuer has complied with the Exchange’s rules and SEC requirements for voluntary withdrawal. The filing does not describe why the removal is occurring, only that regulatory conditions for delisting and deregistration have been met.

For investors in these specific depositary shares, trading will shift away from NYSE once the Form 25 process is complete, and liquidity and pricing will depend on whatever alternative market venues become available. Other Raymond James securities are not mentioned in this document, so any broader impact would need to be assessed using additional disclosures.

UNITED STATES

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SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 25

NOTIFICATION OF REMOVAL FROM LISTING AND/OR REGISTRATION
UNDER SECTION 12(b) OF THE SECURITIES EXCHANGE ACT OF 1934.

Commission File Number

001-09109

Issuer:	RAYMOND JAMES FINANCIAL INC
Exchange:	NEW YORK STOCK EXCHANGE LLC

(Exact name of Issuer as specified in its charter, and name of Exchange where security is listed and/or registered)

Address:	The Raymond James Financial Center
	Saint Petersburg	FLORIDA	33716
Telephone number:					(727) 573-3800

(Address, including zip code, and telephone number, including area code, of Issuer's principal executive offices)

Depositary Shares, Each Representing a 1/40th Interest in a Share of 6.375% Fixed-to-Floating Rate Series B Non-Cumulative Perpetual Preferred Stock

(Description of class of securities)

Please place an X in the box to designate the rule provision relied upon to strike the class of securities from listing and registration:

17 CFR 240.12d2-2(a)(1)

17 CFR 240.12d2-2(a)(2)

17 CFR 240.12d2-2(a)(3)

17 CFR 240.12d2-2(a)(4)

Pursuant to 17 CFR 240.12d2-2(b), the Exchange has complied with its rules to strike the class of securities from listing and/or withdraw registration on the Exchange. ¹

Pursuant to 17 CFR 240.12d2-2(c), the Issuer has complied with its rules of the Exchange and the requirements of 17 CFR 240.12d-2(c) governing the voluntary withdrawal of the class of securities from listing and registration on the Exchange.

Pursuant to the requirements fo the Securities Exchange Act of 1934, NEW YORK STOCK EXCHANGE LLC certifies that it has reasonable grounds to believe that it meets all of the requirements for filing the Form 25 and has caused this notification to be signed on its behalf by the undersigned duly authorized person.

2026-01-02	By	Tyler Mastronardi		Analyst, Market Watch
Date		Name		Title

¹ Form 25 and attached Notice will be considered compliance with the provisions of 17 CFR 240.19d-1 as applicable. See General Instructions.

Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What security of Raymond James Financial Inc. (RJF) is being delisted?

The action applies to Depositary Shares of Raymond James Financial Inc., each representing a 1/40th interest in a share of 6.375% Fixed-to-Floating Rate Series B Non-Cumulative Perpetual Preferred Stock.

Which exchange is removing Raymond James Financial Inc. (RJF) preferred depositary shares from listing?

The New York Stock Exchange LLC is removing this class of Raymond James Financial Inc. depositary shares from listing and/or registration, as indicated in the Form 25.

What regulatory process is used to remove the Raymond James (RJF) preferred depositary shares from listing?

The removal is being executed through Form 25 under Section 12(b) of the Securities Exchange Act of 1934, following the procedures set out in 17 CFR 240.12d2-2.

Did Raymond James Financial Inc. (RJF) comply with exchange and SEC rules for this delisting?

The document states that the issuer has complied with the rules of the Exchange and the requirements of 17 CFR 240.12d2-2(c) governing voluntary withdrawal of the class of securities from listing and registration.

Who certified the Form 25 for the Raymond James (RJF) preferred depositary shares?

New York Stock Exchange LLC certified the Form 25, stating it has reasonable grounds to believe it meets all requirements, and the notification was signed by an authorized person identified as an Analyst, Market Watch dated 2026-01-02.

Does this Form 25 affect other Raymond James Financial Inc. (RJF) securities?

The document specifically refers only to the Depositary Shares representing interests in the 6.375% Series B preferred stock. It does not mention any other Raymond James securities.