ROSEMEAD, Calif.--(BUSINESS WIRE)--Southern California Edison announced today that it will redeem all the outstanding shares of its Series H Preference Stock, which will cause SCE Trust III to redeem all of its outstanding 5.75% Fixed to Floating Rate Trust Preference Securities (“Trust Preference Securities”). The redemption date will be Nov. 28, 2024, and the redemption price will be $25.00 per Trust Preference Security, plus accrued and unpaid dividends up to, but excluding the redemption date. The amount of accrued and unpaid distributions to but excluding Nov. 28, 2024 is $0.426992 per Trust Preference Security.
Trust Preference Securities held through The Depository Trust Company will be redeemed according to The Depository Trust Company’s procedures. Holders who have their Trust Preference Securities in brokerage accounts should contact their brokers with any questions. For Trust Preference Securities not held through The Depository Trust Company, to collect the redemption price, plus any accrued and unpaid distributions to but excluding Nov. 28, 2024, the Trust Preference Securities must be surrendered to the Trustee accompanied by proper instruments of assignment and transfer if payment is to be made other than to the registered holder(s) at the following address:
The Bank of New York Mellon
Corporate Trust
500 Ross St., Suite 625
Pittsburgh, PA 15262
Attn: Transfers/Redemptions
On and after the redemption date, all of the outstanding Trust Preference Securities shall be deemed no longer to be outstanding, dividends on the Trust Preference Securities shall cease to accrue and all rights with respect to the shares called for redemption will thereafter cease and terminate at the close of business on the redemption date, except only the right of the holders to receive the redemption price, but without interest, upon surrender of their Trust Preference Securities.
Questions relating to, and requests for additional copies of, the notice of redemption and related materials should be directed to The Bank of New York Mellon at 312-827-8683.
This news release does not constitute an offer to sell or a solicitation of any offer to buy such securities nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.
About Southern California Edison
An Edison International (NYSE: EIX) company, Southern California Edison is one of the nation’s largest electric utilities, serving a population of approximately 15 million via 5 million customer accounts in a 50,000-square-mile service area within Central, Coastal and Southern California.
