Cincinnati-based Fifth Third Bancorp is offering depositary shares, each representing a 0.001 interest in a series K noncumulative perpetual preferred share.
Each depositary share has a liquidation preference of $25. Fifth Third did not disclose the number of depositary shares it is going to offer and its expected offering proceeds.
Morgan Stanley, J.P. Morgan, Wells Fargo Securities and UBS Investment Bank are joint book-running managers of the offering.
