EFTA01044222.pdf

From: Richard Kahn To: "Jeffrey E." <jeevacation@grnail.com> Subject: Re: CIT 5.8% issue Date: Wed, 31 May 2017 20:36:29 +0000 unable to get filled already trading at 101.5 which is why paul wanted silly we were never shown - told andrew he better begin to fill size or he will lose account.. Richard Kahn HBRK Associates Inc. 575 Lexington Avenue 4th Floor New York NY 10022 tel fax cell On May 31, 2017, at 3:17 PM, jeffrey E. <jeevacation@gmail.com> wrote: Yes On Wed, May 31, 2017 at 2:54 PM Richard Kahn > wrote: ltnm quantity ? Richard Kahn HBRK Associates Inc. 575 Lexington Avenue, 4th Floor New York, NY 10022 Phone Fax Cell On May 31, 2017, at 2:47 PM, jeffrey E. <jeevacation@gmail.com> wrote: Yes On Wed, May 31, 2017 at 2:46 PM, Richard Kahn < > wrote: attached is preferred paul recommended appears book is closed shall i still try to put order in if so please advise on quantity thank you Richard Kahn HBRK Associates Inc. 575 Lexington Avenue 4th Floor EFTA01044222 New York, NY 10022 tel fax cell Begin forwarded message: From: "Atlas, Andrew S" < Subject: RE: CIT 5.8% issue Date: May 31, 2017 at 2:45:01 PM EDT To: Richard Kahn < Hi Rich, The CIT $1000 par pfd book closed at 10:30am this morning. Initial talk was that allocations would be very small and to "manage expectations" so I didn't want to under deliver on a 1O1. If you would like I can try to enter an 1O1, but didn't want to waste yours and STC's time. Let me know, Andrew Issuer: CIT Group Inc. (CIT) Security: Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series A Expected Ratings: B1/B+/B (Moody's/S&P/Fitch) Size: $325mm, will not grow Par Amount: $1,000 Per Share Initial Price Guidance: 6.00% Area Dividend Rate: Non-Cumulative. At a rate per annum equal to 1_1% from the original issue date to, but excluding, June 15, 2022, and, thereafter, at a floating rate per annum equal to three-month LIBOR on the related dividend determination date EFTA01044223  plus a spread of [_]% per annum. Payment Dates: Semi-annually in arrears on June 15 and December 15 of each year, beginning on December 15, 2017 and ending on June 15, 2022, and, thereafter, quarterly in arrears on March 15, June 15, September 15 and December 15 of each year, beginning on September 15, 2022 Redemption: At their option, the Issuer may redeem the Preferred Stock at a redemption price equal to $1,000 per share, plus any declared and unpaid dividends, without regard to any undeclared dividends, (i) in whole or in part, from time to time, on any dividend payment date on or after June 15, 2022, or (ii) in whole, but not in part, within 90 days following the occurrence of a "regulatory capital treatment event". DRD/QDI: Eligible, subject to applicable law See Red for tax and foreign withholding details Listing: None Use of Proceeds: For general corporate purposes, including returning capital to our shareholders Andrew S. Atlas First Vice President Equity Sales/Middle Markets Group Financial Advisor Morgan Stanley Wealth Management 1290 Avenue of the Americas, 12th Floor I New York, NY 10104 Tel/Direct: I Fax: EFTA01044224  NMLS ID A 1326736 From: Richard Kahn rmailto: Sent: Wednesday, May 31, 2017 2:24 PM To: Atlas, Andrew S (Wealth Mgmt MS) Subject: C 5.8% issue is MS doing a preferred on above name? if so can you please provide some info thanks Richard Kahn HBRK Associates Inc. 575 Lexington Avenue 4th Floor New York, NY 10022 tel fax cell NOTICE: Morgan Stanley is not acting as a municipal advisor and the opinions or views contained herein are not intended to be. and do not constitute, advice within the meaning of Section 975 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. If you have received this communication in error• please destroy all electronic and paper copies and notify the sender immediately. Mistransmission is not intended to waive confidentiality or privilege. 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If you have received this communication in error, please notify us immediately by return e-mail or by e-mail to and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved please note The information contained in this communication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the addressee. It is the property of JEE Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by return e-mail or by e-mail to and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved EFTA01044226