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SunTrust TARP Warrants


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The U.S. Treasury has announced that it will auction 17.9 million stock warrants of SunTrust Banks Inc. (STI - Analyst Report) on Thursday. Following the sale these warrants, which the Treasury had received in exchange for $4.85 billion bail-out money, the company will be completely freed from government intervention.


SunTrust’s warrants will be sold through modified Dutch auction. The auction includes 6,008,902 in “A” warrants (minimum bid price of $2.00) and 11,891,280 in “B” warrants (minimum bid price will be $1.05). Deutsche Bank AG (DB - Snapshot Report) and Lebenthal & Company will run the auction.

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As 6.01 million, strike $33.70, expiration date of Dec. 31, 2018, DPS $0.54



Bs 11.89 million, strike $44.15, expiration date of Nov. 14, 2018, DPS $0.54



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