First Horizon Corporation Announces Redemption of Preferred Stock

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First Horizon Corporation, a leading regional financial services company, announced that on May 1, 2026, it will redeem all outstanding shares of its 6.600% Fixed-to-Floating Non-Cumulative Perpetual Preferred Stock, Series C, and all related outstanding depositary shares. The redemption price will be $25.00 per Series C Depositary Share, corresponding to $10,000 per share of Series C Preferred Stock.

Why it matters

The redemption of the Series C Preferred Stock and related depositary shares is part of First Horizon's ongoing efforts to optimize its capital structure and financial position. This move will simplify the company's capital base and provide greater flexibility to support its growth and strategic initiatives.

The details

First Horizon will redeem all 400,000 outstanding shares of its Series C Preferred Stock, as well as the 160 million related Series C Depositary Shares. The redemption price will be $25.00 per depositary share, corresponding to $10,000 per share of preferred stock. Accrued dividends will not be included in the redemption price since the redemption date is also a dividend payment date.

• First Horizon will redeem the shares on May 1, 2026.
• The regular Series C quarterly dividend, declared in January, will be paid separately on May 1, 2026 to shareholders of record as of April 16, 2026.

What’s next

After the redemptions, no shares of Series C Preferred Stock or Series C Depositary Shares will remain outstanding.