Southern California Edison Announces Redemption of SCE Trust III 5.75% Fixed to Floating Rate Trust Preference Securities
October 29 2024 - 5:00PM
Business Wire
Southern California Edison announced today that it will redeem
all the outstanding shares of its Series H Preference Stock, which
will cause SCE Trust III to redeem all of its outstanding 5.75%
Fixed to Floating Rate Trust Preference Securities (“Trust
Preference Securities”). The redemption date will be Nov. 28, 2024,
and the redemption price will be $25.00 per Trust Preference
Security, plus accrued and unpaid dividends up to, but excluding
the redemption date. The amount of accrued and unpaid distributions
to but excluding Nov. 28, 2024 is $0.426992 per Trust Preference
Security.
Trust Preference Securities held through The Depository Trust
Company will be redeemed according to The Depository Trust
Company’s procedures. Holders who have their Trust Preference
Securities in brokerage accounts should contact their brokers with
any questions. For Trust Preference Securities not held through The
Depository Trust Company, to collect the redemption price, plus any
accrued and unpaid distributions to but excluding Nov. 28, 2024,
the Trust Preference Securities must be surrendered to the Trustee
accompanied by proper instruments of assignment and transfer if
payment is to be made other than to the registered holder(s) at the
following address:
The Bank of New York Mellon Corporate Trust
500 Ross St., Suite 625 Pittsburgh, PA 15262 Attn:
Transfers/Redemptions
On and after the redemption date, all of the outstanding Trust
Preference Securities shall be deemed no longer to be outstanding,
dividends on the Trust Preference Securities shall cease to accrue
and all rights with respect to the shares called for redemption
will thereafter cease and terminate at the close of business on the
redemption date, except only the right of the holders to receive
the redemption price, but without interest, upon surrender of their
Trust Preference Securities.
Questions relating to, and requests for additional copies of,
the notice of redemption and related materials should be directed
to The Bank of New York Mellon at 312-827-8683.
This news release does not constitute an offer to sell or a
solicitation of any offer to buy such securities nor shall there be
any sale of these securities in any state or other jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or other jurisdiction.
About Southern California Edison
An Edison International (NYSE: EIX) company, Southern California
Edison is one of the nation’s largest electric utilities, serving a
population of approximately 15 million via 5 million customer
accounts in a 50,000-square-mile service area within Central,
Coastal and Southern California.
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version on businesswire.com: https://www.businesswire.com/news/home/20241029453225/en/
Investor Relations: Sam Ramraj, (626) 302-2540 Media Relations:
(626) 302-2255 News@sce.com
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