Allstate Prices Series I Preferred Shares

The Allstate Corporation (ALL) today announced that it has priced a $300 million public offering of 4.75% Fixed Rate Noncumulative Perpetual Preferred Stock, Series I (Series I Preferred Stock). The company intends to use the net proceeds for general corporate purposes, which may include the redemption or repurchase of certain preferred shares. The Series I Preferred Stock, with a liquidation preference of $25,000 per share (equivalent to $25 per Depositary Share, the security to be issued to investors) will pay dividends, as and if declared, quarterly in arrears on Jan. 15, April 15, July 15 and Oct. 15, beginning in January 2020, at a rate of 4.75% per year.