New York Community Capital Trust V BONUSES UNIT
NYCB-PU
New York Stock Exchange38.75
USD
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New York Community Capital Trust V BONUSES UNIT
NYCB-PU
(New York Stock Exchange)
Recent
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38.75
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ROIC.AI
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- Business
- New York Community Capital Trust V (NYSE: NYCB-PU, now FLG.PRU) operates as a statutory trust and special purpose entity formed to issue Bifurcated Option Note Unit SecuritiES (BONUSES) units, consisting of 6% preferred securities with a $50 liquidation preference and warrants to purchase common stock of its parent company. The trust's sole assets comprise subordinated deferrable interest debentures issued by Flagstar Financial, Inc. (formerly New York Community Bancorp, Inc.), maturing on November 1, 2051, with quarterly distributions at a 6% annual rate ($3.00 per unit) payable on February 1, May 1, August 1, and November 1; the parent company may defer payments for up to 20 consecutive quarters. Warrants entitle holders to acquire 1.4036 shares of parent common stock at an initial conversion price of $35.62 (exercise price $50), exercisable anytime prior to May 7, 2051, and separable from the preferred securities for independent trading or recombination. Established in 2002 and headquartered in Hicksville, New York, the trust supports the capital structure of Flagstar Financial, Inc., a regional bank with approximately $119 billion in assets as of June 2024, operating nationwide through Flagstar Bank, N.A., with focus on commercial real estate, retail banking, and diversified lending. In October 2024, the parent company rebranded from New York Community Bancorp, Inc. to Flagstar Financial, Inc., effective October 25, changing its common stock ticker from NYCB to FLG and the BONUSES units ticker from NYCB-PU to FLG.PRU, while retaining unchanged CUSIPs. This followed the 2022 acquisition of Flagstar Bancorp, Inc., which merged New York Community Bank into Flagstar Bank, N.A. and expanded the combined entity's footprint, assets, and product offerings including full-suite retail and commercial banking services. In March 2024, Flagstar Financial raised over $1 billion in equity capital from investors including Liberty Strategic Capital to bolster its balance sheet amid commercial real estate pressures. Most recently, in October 2025, shareholders approved an internal reorganization merging Flagstar Financial into Flagstar Bank, N.A. as the surviving entity, alongside a bank charter conversion, enhancing operational efficiency without altering the trust's structure or securities.