Huntington Bancshares prices offering of depositary shares

Huntington Bancshares Inc. priced an offering of 20 million depositary shares, each representing a 0.025 interest in a share of its 4.500% series H noncumulative perpetual preferred stock. The series H preferred stock has a liquidation preference of $1,000 per share.

The depositary shares have a public offering price of $25 per depositary share. The Columbus, Ohio-based company intends to apply to list the depositary shares on the Nasdaq Global Select Market under the symbol HBANP.

The underwriters expect to deliver the depositary shares to purchasers on or about Feb. 9. The company estimates net proceeds from the offering, before expenses, will be about $485.7 million.

BofA Securities Inc., Huntington Securities Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, RBC Capital Markets LLC, UBS Securities LLC and Wells Fargo Securities LLC are acting as joint bookrunning managers for the offering. Goldman Sachs & Co. LLC and Academy Securities Inc. are serving as co-managers.