First Horizon Corporation (NYSE: FHN) announced it will redeem all outstanding shares of its 6.600% Fixed-to-Floating Non-Cumulative Perpetual Preferred Stock, Series C, and related depositary shares on May 1, 2026.

The Memphis-based bank will pay $25.00 per Series C depositary share, which corresponds to $10,000 per share of Series C preferred stock. Each depositary share represents a 1/400th interest in a share of the preferred stock. The depositary shares trade on the New York Stock Exchange under the ticker FHN PRC.

After the redemption, no shares of Series C preferred stock or depositary shares will remain outstanding. The redemption price does not include accrued dividends because the redemption date coincides with a dividend payment date.

The company will pay its regular quarterly dividend separately on May 1, 2026, to shareholders of record as of April 16, 2026. This dividend was declared in January.

Equiniti Trust Company LLC serves as the redemption agent and can be reached at 1-877-536-3558. Shareholders who own depositary shares through brokers, banks or other intermediaries may contact those parties for information.

First Horizon reported $83.9 billion in assets as of December 31, 2025. The regional financial services company operates First Horizon Bank across 12 states concentrated in the southern United States.