SunTrust Banks, Inc., large banking organisation, serving a broad range of consumer, commercial, corporate and institutional clients, announces purchase dates for previously disclosed auction rate securities settlement.
Under the terms of a previously announced agreement in principle with The Financial Industry Regulatory Authority (FINRA) SunTrust will offer to purchase at par certain auction rate securities (“ARS”) and auction rate preferred securities (“ARPS”) purchased through certain subsidiaries. This agreement is subject to negotiation and final settlement, with such negotiations continuing.
The offers, which will be voluntarily initiated through SunTrust subsidiaries, SunTrust Robinson Humphrey, Inc. and SunTrust Investment Services, Inc., will commence on 1 December 2008 for certain customers and will expire on or before 2 March 2009.
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