Introduction
Associated Banc-Corp (ASB) is a U.S. regional bank, which already has three outstanding preferred stocks, all paying a fixed dividend rate. While quite a few other banks issue their shares with a diverse dividend rate, trying to make them more attractive to investors, whether with a fixed-to-floating rate (LIBOR or SOFR related) or a fixed-reset rate (linked to the 5-year U.S. Treasury rate), ASB continues to be conservative with its newly issued Series F Preferred Stock.
The New Issue
Before we submerge into our brief analysis, here is a link to the 424B5 Filing