April 1, 2024 /PRNewswire/ -- First Horizon Corporation (NYSE: FHN) today announced that on May 1, 2024 (the "Redemption Date"), it will redeem all outstanding shares of its 6.10% Fixed to Floating Non-Cumulative Perpetual Preferred Stock, Series D (the "Series D Preferred Stock"), and all related outstanding depositary shares, each representing a 1/400th interest in a share of the Series D Preferred Stock ("the Series D Depositary Shares") (NYSE: FHN PRD). After the redemptions, no shares of Series D Preferred Stock, and no Series D Depositary Shares, will remain outstanding. The redemption price will be $25.00 per Series D Depository Share, corresponding to $10,000 per share of Series D Preferred Stock. Accrued dividends will not be included in either redemption price because the Redemption Date is also a dividend payment date. The regular Series D semi-annual dividend, which was declared in January, will be paid separately in the customary manner on May 1, 2024 to shareholders of record at the close of business on April 16, 2024. April 25, 2023 -- First Horizon Corporation (NYSE: FHN or "First Horizon") today announced that, after June 30, 2023, US dollar LIBOR will be replaced with CME Term SOFR as the reference rate used in certain outstanding securities issued by FHN or its affiliates. As a result, each LIBOR reference in each applicable securities contract will automatically transition by operation of law to CME Term SOFR, plus a tenor based spread adjustment, on the first business day after June 30, 2023, pursuant to the LIBOR Act and the implementing regulations. FHN is issuing this press release to notify all holders of the securities listed below, the replacement benchmark rate shall be the 3-month CME Term rate plus a spread adjustment of 0.26161%, on the first reset date after USD LIBOR ceases publication in June 2023.

QUANTUMONLINE.COM SECURITY DESCRIPTION:  First Horizon Corp formerly First Horizon National Corp., fomerly IBERIABANK Corp., 6.10% Depositary Shares, each representing a 1/400th interest in a share of Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series D, liquidation preference $25 per depositary share, redeemable at the issuer's option on or after 5/1/2024 at $25 per depositary share plus declared and unpaid dividends, and with no stated maturity. Non-Cumulative distributions of 6.10% per annum ($1.525 per annum or $0.7625 per semi-annual) will be paid semi-annually on 5/1 & 11/1 until 5/1/2024 and then paid quarterly after 5/1/2024 on 2/1, 5/1, 8/1 & 11/1 to holders of record on the record date that will be the fifteenth calendar day prior to the payment date or such other record date fixed by the board, not more than 60 days or less than 10 days prior to the payment date (NOTE: the ex-dividend date is one business day prior to the record date). On and after 5/1/2024, distributions on the depositary shares will accumulate at a redemption price in cash of $25.00 per unit equal to the applicable three-month LIBOR 3-month CME Term SOFR rate plus a spread adjustment of 0.26161% plus a spread of 385.9 basis points. The dividends are non-cumulative and if the board of directors does not declare a dividend or the company fails to pay a dividend declared by the board for any quarterly dividend period, the holder will not be entitled to receive any dividend for that quarterly period and the undeclared or unpaid dividend will not accumulate. Dividends paid by this preferred security are eligible for the preferential income tax rate of 15% to a maximum of 20% depending on the holder's tax bracket (and under IRS specified holding restrictions) and are also eligible for the dividends received deduction for corporate holders (see page S-16 of the prospectus for further information). This security is possibly subject to an early call as a result of the occurrence of a regulatory capital treatment event which no longer allows the company to include the funds originating from this security as Tier 1 capital on their balance sheet (see the prospectus for further information). This security was not rated by Moody’s and rated BB by S&P at the date of its IPO. In regard to the payment of dividends and upon liquidation, the depositary shares rank junior to the company's senior debt, equally with other preferreds of the company, and senior to the common shares of the company. See the IPO prospectus for further information on the preferred stock by clicking on the ‘Link to IPO Prospectus’ provided below.

Stock Exchange	Cpn Rate Ann Amt	LiqPref CallPrice	Call Date Matur Date	Moodys/S&P Dated	Distribution Dates	15% Tax Rate
NYSE Chart	FixFloat $1.53	$25.00 $25.00	Called for 5/01/2024 None	Ba2 BB- 4/16/2023	5/1 & 11/1 Click for MW ExDiv Date Click for Yahoo ExDiv Date	YES

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Address:   165 Madison Avenue, Memphis, TN 38103
Main Phone Number	901-523-4444
Fax Number	901-523-4614
Investor Relations   Aarti Bowman	901-523-4017
Toll Free Phone Number	800-489-4040

CEO - D. Bryan Jordan

CFO - Hope Dmuchowski