CINCINNATI--(BUSINESS WIRE)--Jul. 2, 2012--
Fifth Third Bancorp (Nasdaq: FITB) today announced that it has submitted
redemption notices to the trustee for redemption on August 15, 2012, of
all $575,000,000 of the outstanding trust preferred securities issued by
Fifth Third Capital Trust V (NYSE: FTB A) (CUSIP 31678W204).
The Fifth Third Capital Trust V securities have a current distribution
rate of 7.250 percent and a scheduled maturity date of August 15, 2067,
although they may be redeemed at any time on or after August 15, 2012.
The redemption price will be $25 per security, which reflects 100
percent of the liquidation amount, plus accrued and unpaid distributions
to the actual redemption date of .453125 per security will be paid. The
redemptions will be funded with available cash.
The redemption or paying agent for the Fifth Third Capital Trust V
1100 N. Market Street
Mail Drop 1615
Fifth Third Bancorp is a diversified financial services company
headquartered in Cincinnati, Ohio. The Company has $117 billion in
assets and operates 15 affiliates with 1,320 full-service Banking
Centers, including 105 Bank Mart® locations open seven days a week
inside select grocery stores and 2,405 ATMs in Ohio, Kentucky, Indiana,
Michigan, Illinois, Florida, Tennessee, West Virginia, Pennsylvania,
Missouri, Georgia and North Carolina. Fifth Third operates four main
businesses: Commercial Banking, Branch Banking, Consumer Lending, and
Investment Advisors. Fifth Third also has a 39% interest in Vantiv
Holding, LLC, formerly Fifth Third Processing Solutions, LLC. Fifth
Third is among the largest money managers in the Midwest and, as of
March 31, 2012, had $296 billion in assets under care, of which it
managed $26 billion for individuals, corporations and not-for-profit
information and press
releases can be viewed at www.53.com.
Fifth Third's common stock is traded on the NASDAQ® National Global
Select Market under the symbol "FITB."
Source: Fifth Third Bancorp
Fifth Third Bancorp
Laura Wehby (Investors), 513-534-7407
Eglseder (Investors), 513-534-8424
Debra DeCourcy, APR