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Callable Preferred Stock

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Callable Preferred Stock
A preferred stock that the issuing company may redeem under certain, stated circumstances. That is, the company may require the callable preferred stock to be exchanged for a given amount of cash. A company may issue callable preferred stock to protect itself from the possibility that its obligations to pay guaranteed dividends may become too expensive in the future.
callable preferred stock
An issue of preferred stock that may be repurchased by the issuer at a specific price, usually par value or slightly above. The option to repurchase such stock is held by the issuer, not the investor. Calls can be expected when market rates of interest have fallen significantly below the yield on the preferred stock at the time the stock was issued.
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One security price was determined for each upper limit; the average among these upper limits represents the callable preferred stock price.
Pricing new-issue and seasoned preferred stocks: a comparison of ... by Ferreira, Eurico J.; Spivey, Michael F.; Edwards, Charles E. / Financial Management
The callable feature of the Series B Callable Preferred Stock entitles IRIS to convert it at any time into common stock equal in number of shares to the $594,000 liquidation value divided by the market price of IRIS common stock at the time of conversion, or $2 per share or IRIS common stock, whichever is greater.
IRIS Files Shelf Registration for Stock Issued in Poly U/A Systems ... by Business Wire
Tendering Poly U/A stockholders will receive three shares of IRIS Common Stock, one share of the new Series B Callable Preferred Stock and three-year Series G Warrants to purchase three shares of IRIS common stock in exchange for each share of Poly U/A common stock tendered and a release of any claims against IRIS and Poly U/A.
IRIS Concludes Poly U/A Tender Offer; 77% of Poly U/A Shares Tendered by Business Wire
 
 
 
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