Allstate Costs Sequence J Most well-liked Shares

NORTHBROOK, In poor health., Might 16, 2023 – The Allstate Company (NYSE: ALL) introduced that on Might 15, 2023 it priced a $600 million public providing of seven.375% Fastened Fee Noncumulative Perpetual Most well-liked Inventory, Sequence J (Sequence J Most well-liked Inventory). The corporate intends to make use of the web proceeds for normal company functions, as a result of redemption of all excellent shares of Sequence G Most well-liked Inventory on April 17, 2023, at par for a complete redemption cost of $575 million. Loop Capital Markets is a bookrunner on the transaction, making this the primary time a minority-, women- or veteran-owned enterprise enterprise has acted as a joint bookrunner on a most well-liked inventory issuance.

The Sequence J Most well-liked Inventory, with a liquidation choice of $25,000 per share (equal to $25 per Depositary Share, the safety to be issued to traders) can pay dividends, as and if declared, quarterly in arrears on Jan. 15, April 15, July 15 and Oct. 15, starting in October 2023, at a price of seven.375% per yr. The Sequence J Most well-liked Inventory is perpetual and has no maturity date. Utility can be made to listing the Depositary Shares on the New York Inventory Alternate beneath the image “ALL PR J” (CUSIP No. 020002788). The providing is predicted to shut on Might 18, 2023, topic to customary closing situations.

The Depositary Shares are being supplied on the market pursuant to a prospectus and associated prospectus complement that represent part of The Allstate Company’s shelf registration assertion filed with the Securities and Alternate Fee (SEC) on Kind S-3 on April 30, 2021. Earlier than investing, potential traders ought to first learn the prospectus complement and accompanying prospectus, the registration assertion and the opposite paperwork that The Allstate Company filed or will file with the SEC in reference to the providing. Alternatively, copies could also be obtained by calling Morgan Stanley & Co. LLC toll-free at 1-866-718-1649, BofA Securities Inc. toll-free at 1-800-294-1322, J.P. Morgan Securities LLC gather at 1-212-834-4533, Loop Capital Markets LLC at 1-312-913-4900, or Wells Fargo Securities LLC toll-free at 1-800-645-3751.

Monetary info, together with materials bulletins about The Allstate Company, is routinely posted on www.allstateinvestors.com.

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