At September 30, 2020, FHN had issued and outstanding shares of non-cumulative perpetual preferred stock in five Series, designated A, B, C, D, and E. For each Series, FHN caused depositary shares to be issued, each of which represents a fractional ownership interest in a share of the related Series of preferred stock. Series A was issued in 2013, while the other four Series were issued in 2020. Series B, C, and D were issued on July 2, 2020 as substitutes for corresponding series of IBKC preferred stock. Series E was issued and sold on May 28, 2020 for net proceeds of approximately $145 million.

•Series A. FHN’s Series A preferred stock consists of 1,000 shares authorized, with 1,000 outstanding shares having an aggregate liquidation preference amount of $100 million. Dividends will accrue and be payable on the Series A Preferred Stock, if declared by FHN's Board of Directors, and will be paid quarterly, in arrears, at an annual rate of 6.200%.

•Series B. FHN’s Series B preferred stock consists of 8,625 shares authorized, with 8,000 outstanding shares having an aggregate liquidation preference amount of $80 million. Dividends will accrue and be payable on the Series B preferred stock, if declared by FHN's Board of Directors, and (i) will be paid semi-annually, in arrears, at an annual rate equal to 6.625% for each period from, and including, February 1, 2020 to, but excluding, August 1, 2025 and (ii) will be paid quarterly, in arrears, at an annual rate equal to three-month LIBOR plus 4.262% for each period beginning on or after August 1, 2025.

•Series C. FHN’s Series C preferred stock consists of 5,750 shares authorized, with 5,750 outstanding shares having an aggregate liquidation preference

amount of $57.5 million. Dividends will accrue and be payable on the Series C preferred stock, if declared by FHN's Board of Directors, and will be paid quarterly, in arrears, at an annual rate equal to (i) 6.600% for each period from, and including, May 1, 2020 to, but excluding, May 1, 2026 and (ii) three-month LIBOR plus 4.920% for each period beginning on or after May 1, 2026.

•Series D. FHN’s Series D preferred stock consists of 10,000 shares authorized, with 10,000 outstanding shares having an aggregate liquidation preference amount of $100 million. Dividends will accrue and be payable on the Series D preferred stock, if declared by the FHN's Board of Directors, and (i) will be paid semi-annually, in arrears, at an annual rate equal to 6.100% for each period from, and including May 1, 2020 to, but excluding, May 1, 2024 and (ii) will be paid quarterly, in arrears, at an annual rate equal to three-month LIBOR plus 3.859% for each period on or after May 1, 2024.

•Series E. FHN’s Series E preferred stock consists of 1,725 shares authorized, with 1,500 outstanding shares having an aggregate liquidation preference amount of $150 million. Dividends will accrue and be payable on the Series E Preferred Stock, if declared by FHN's Board of Directors, and will be paid quarterly, in arrears, at an annual rate of 6.500%.

Excluding the Series D preferred stock, the preferred stock qualifies as Tier 1 Capital for FHN. No Series of preferred stock has any stated maturity and redemption is solely at the option of FHN. Under current rules, any redemption of the preferred stock is subject to prior approval of the FRB.

The following table presents a summary of FHN's non-cumulative perpetual preferred stock:


							September 30, 2020		December 31, 2019
(dollars in thousands)	Issuance Date	Earliest Redemption Date*	Annual Dividend Rate		Liquidation Amount		Carrying Amount		Carrying Amount

Series A Preferred Stock	1/31/2013	4/10/2018	6.200	%	$	100,000	$	95,624	$	95,624
Series B Preferred Stock	7/2/2020	8/1/2025	6.625	%	80,000		77,348		—
Series C Preferred Stock	7/2/2020	5/1/2026	6.600	%	57,500		59,084		—
Series D Preferred Stock	7/2/2020	5/1/2024	6.100	%	100,000		93,649		—
Series E Preferred Stock	5/28/2020	10/10/2025	6.500	%	150,000		144,665		—
					$	487,500	$	470,370	$	95,624

*Denotes earliest optional redemption date. Earlier redemption is possible, at FHN's election, if certain regulatory capital events occur.