Regions Financial’s $500 Million Stock Offering

Cleary Gottlieb represented a group of underwriters led by Morgan Stanley & Co. LLC, BofA Securities Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, RBC Capital Markets LLC, and Regions Securities LLC in a $500-million SEC-registered offering of 20 million depositary shares.

Each of the depositary shares issued by Regions Financial represents 1/40th interest in a share of non-cumulative perpetual preferred stock, Series F ($1,000 liquidation preference per share).

The offering priced on July 22, 2024, and will settle on July 29, 2024.

Regions Financial is a full-service provider of consumer and commercial banking, wealth management, and mortgage products and services. It is a member of the S&P 500 and has over $154 billion in assets. Regions Financial and Regions Bank operate across the South, Midwest, and Texas.