CINCINNATI, June 18 /PRNewswire-FirstCall/ -- Fifth Third Bancorp
(Nasdaq: FITB) today announced that it intends to sell, subject to market and
other conditions, $1 billion of depositary shares, each of which represents a
1/250th interest in shares of its convertible preferred stock, pursuant to an
effective shelf registration statement filed with the Securities and Exchange
Commission. Fifth Third also expects to grant the underwriters an option to
purchase up to an additional $150 million of depositary shares solely to cover
over-allotments, if any.
The convertible preferred stock will have a liquidation preference of
$25,000 per share (equivalent to $100 per depositary share), and will be
convertible into the common stock of Fifth Third Bancorp.
The net proceeds of the offering will be used for general corporate
purposes.
Goldman, Sachs & Co. is the sole structuring coordinator and a joint
bookrunner of the offering. Credit Suisse Securities (USA) LLC and Merrill
Lynch & Co. are also acting as joint bookrunners of the offering. Fifth Third
Securities, Inc. will act as a co-manager in the offering.
Fifth Third Bancorp has filed a registration statement (including
prospectus) with the SEC for the securities offerings discussed in this
communication. Before you would invest in such securities, you should read the
prospectus in that registration statement, the related preliminary prospectus
supplements and other documents that Fifth Third Bancorp has filed with the
SEC for more complete information about Fifth Third Bancorp and these
offerings. You may obtain these documents for free by visiting EDGAR on the
SEC website at www.sec.gov. Alternatively, Fifth Third Bancorp, the
underwriter or any dealer participating in the offerings will arrange to send
you the relevant prospectus and prospectus supplements if you request it by
contacting Goldman, Sachs & Co., Attn: Prospectus Department, 85 Broad Street,
New York, New York 10004, via fax at 212-902-9316 or via e-mail at
prospectus-ny@ny.email.gs.com; Credit Suisse Securities (USA) LLC, Prospectus
Department, One Madison Avenue, New York, NY 10010, 1-800-221-1037; or Merrill
Lynch & Co., Attention: Prospectus Department, 4 World Financial Center, New
York, New York, 10080, 212-449-1000.
SOURCE Fifth Third Bancorp
CONTACT: Media, Fifth Third Bancorp, +1-513-579-5439
