LANCASTER, Pa.--(BUSINESS WIRE)--Fulton Financial Corporation (NASDAQ: FULT)  announced the pricing of its public offerings of $200 million aggregate principal amount of 3.25% Fixed-to-Floating Rate Subordinated Notes due 2030 and $175 million aggregate principal amount of 3.75% Fixed-to-Floating Rate Subordinated Notes due 2035. The price to the public for the 2030 Notes was 100% of the principal amount of the 2030 Notes, and the price to the public for the 2035 Notes was 100% of the principal amount of the 2035 Notes. Interest on the 2030 Notes will accrue at a rate equal to (i) 3.25% per annum from the original issue date to, but excluding, March 15, 2025, payable semiannually in arrears, and (ii) a floating rate per annum equal to a benchmark rate, which is expected to be Three-Month Term SOFR (as defined in the Notes), plus a spread of 230 basis points from, and including, March 15, 2025, payable quarterly in arrears. Interest on the 2035 Notes will accrue at a rate equal to (i) 3.75% per annum from the original issue date to, but excluding, March 15, 2030, payable semiannually in arrears, and (ii) a floating rate per annum equal to a benchmark rate, which is expected to be Three-Month Term SOFR, plus a spread of 270 basis points from, and including, March 15, 2030, payable quarterly in arrears. The Notes are intended to qualify as Tier 2 capital for regulatory purposes. The offerings are expected to close on March 3, 2020, subject to the satisfaction of customary closing conditions. The closing of the offering of the 2030 Notes is not conditioned upon the closing of the offering of the 2035 Notes, and the closing of the offering of the 2035 Notes is not conditioned upon the closing of the offering of the 2030 Notes.

Piper Sandler & Co. is acting as the book-running manager (active) and Keefe, Bruyette & Woods, A Stifel Company is acting as the book-running manager (passive) for the offerings, and Goldman Sachs & Co. LLC and Wells Fargo Securities are acting as co-managers.

About Fulton Financial Corporation

Fulton, a $22 billion, Lancaster, Pa.-based financial holding company, has approximately 3,600 employees and operates approximately 230 branches in Pennsylvania, Maryland, Delaware, New Jersey and Virginia through Fulton Bank, N.A.