Deliver Your News to the World

Allstate Prices Series I Preferred Shares


The Allstate Corporation (NYSE: ALL) announced that it has priced a $300 million public offering of 4.75% Fixed Rate Noncumulative Perpetual Preferred Stock, Series I (Series I Preferred Stock). The company intends to use the net proceeds for general corporate purposes, which may include the redemption or repurchase of certain preferred shares.

The Series I Preferred Stock, with a liquidation preference of $25,000 per share (equivalent to $25 per Depositary Share, the security to be issued to investors) will pay dividends, as and if declared, quarterly in arrears on Jan. 15, April 15, July 15 and Oct. 15, beginning in January 2020, at a rate of 4.75% per year. The Series I Preferred Stock is perpetual and has no maturity date. Application will be made to list the Depositary Shares on the New York Stock Exchange under the symbol “ALL PR I” (CUSIP No. 020002812). The offering is expected to close on Nov. 8, subject to customary closing conditions.

The Depositary Shares are being offered for sale pursuant to a prospectus and related prospectus supplement that constitute a part of The Allstate Corporation’s shelf registration statement filed with the Securities and Exchange Commission (SEC) on Form S-3 on April 30, 2018. Before making an investment, potential investors should first read the prospectus supplement and accompanying prospectus, the registration statement and the other documents that The Allstate Corporation filed or will file with the SEC in connection with the offering. Alternatively, copies may be obtained from BofA Securities, Inc., NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte, NC, 28255-0001, Attention: Prospectus Department; or email or call toll free 1-800-294-1322.

Financial information, including material announcements about The Allstate Corporation, is routinely posted on

( Press Release Image: )


This news content was configured by WebWire editorial staff. Linking is permitted.

News Release Distribution and Press Release Distribution Services Provided by WebWire.