CINCINNATI, June 18 /PRNewswire-FirstCall/ -- Fifth Third Bancorp
(Nasdaq: FITB) today announced that it intends to sell, subject to market
and other conditions, $1 billion of depositary shares, each of which
represents a 1/250th interest in shares of its convertible preferred stock,
pursuant to an effective shelf registration statement filed with the
Securities and Exchange Commission. Fifth Third also expects to grant the
underwriters an option to purchase up to an additional $150 million of
depositary shares solely to cover over-allotments, if any.
The convertible preferred stock will have a liquidation preference of
$25,000 per share (equivalent to $100 per depositary share), and will be
convertible into the common stock of Fifth Third Bancorp.
The net proceeds of the offering will be used for general corporate
purposes.
Goldman, Sachs & Co. is the sole structuring coordinator and a joint
bookrunner of the offering. Credit Suisse Securities (USA) LLC and Merrill
Lynch & Co. are also acting as joint bookrunners of the offering. Fifth
Third Securities, Inc. will act as a co-manager in the offering.
Fifth Third Bancorp has filed a registration statement (including
prospectus) with the SEC for the securities offerings discussed in this
communication. Before you would invest in such securities, you should read
the prospectus in that registration statement, the related preliminary
prospectus supplements and other documents that Fifth Third Bancorp has
filed with the SEC for more complete information about Fifth Third Bancorp
and these offerings. You may obtain these documents for free by visiting
EDGAR on the SEC website at http://www.sec.gov. Alternatively, Fifth Third
Bancorp, the underwriter or any dealer participating in the offerings will
arrange to send you the relevant prospectus and prospectus supplements if
you request it by contacting Goldman, Sachs & Co., Attn: Prospectus
Department, 85 Broad Street, New York, New York 10004, via fax at
212-902-9316 or via e-mail at prospectus-ny@ny.email.gs.com; Credit Suisse
Securities (USA) LLC, Prospectus Department, One Madison Avenue, New York,
NY 10010, 1-800-221-1037; or Merrill Lynch & Co., Attention: Prospectus
Department, 4 World Financial Center, New York, New York, 10080,
212-449-1000.
SOURCE Fifth Third Bancorp
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