Ally financial announces partial redemption of trust preferred securities and junior debentures

Detroit, june 2, 2021 /prnewswire/ -- ally financial inc. (nyse: ally) announced today that gmac capital trust i, a subsidiary trust of ally (the "trust"), is redeeming (i) 41,600,000 units of its 8.125% fixed rate/floating rate trust preferred securities, series 2 (cusip no. 361860208) (the "trups") (constituting approximately 84.467% of the outstanding trups) at a par price of $25.00 per unit, plus accrued interest payable from may 17, 2021, through the redemption date (which will be based on an annual rate equal to three-month libor, determined as of may 13, 2021, or 0.15588%, plus 5.785%), and (ii) 1,248,000 units of its 8.125% fixed rate/floating rate common securities, series 2 (the "common securities") (constituting approximately 84.467% of the outstanding common securities) at a par price of $25.00 per unit, plus all accrued and unpaid distributions thereon through the redemption date.
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