Truist Financial Issues 6.250% Series S Preferred Stock

Truist Financial Corporation issued 500,000 depositary shares, each representing a 1/25th interest in its 6.250% Series S Fixed Rate Reset Non-Cumulative Perpetual Preferred Stock. This issuance, which closed on May 15, 2026, includes a liquidation preference of $25,000 per preferred share. The company also filed Articles of Amendment to define the terms of the Series S Preferred Stock. A key term is that the company's ability to pay dividends on common stock will be restricted if dividends on the Series S Preferred Stock are not declared or paid.