TCF Financial Corporation TCB today announced the pricing of
its public offering of 6,000,000 depositary shares, each representing a
1/1,000^th interest in a share of its Series A Non-Cumulative Perpetual
Preferred Stock (“Preferred Stock”), par value $.01 per share, at a public
offering price of $25.00 per depositary share for gross proceeds of $150
million. TCF has also granted the underwriters a 30-day option to purchase up
to an additional 900,000 depositary shares to cover over-allotments, if any,
at the same price for potential additional gross proceeds of $22.5 million.
Morgan Stanley & Co. LLC and UBS Securities LLC acted as joint book-running
managers. RBC Capital Markets, LLC and Stifel, Nicolaus & Company,
Incorporated served as co-managers.
Dividends will be payable on the Preferred Stock when, as and if declared by
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