The United States Department of the Treasury acquired equity securities from numerous financial institutions as part of the Troubled Assets Relief Program (TARP) established pursuant to the Emergency Economic Stabilization Act of 2008 (ESSA). ESSA required the Secretary of the Treasury to acquire warrants in connection with certain purchases from a financial institution, subject to certain exceptions.
The Treasury Dept. recently has priced secondary public offerings of such warrants through modified Dutch auctions with Deutsche Bank Securities as the lead or sole underwriter. The warrants were offered pursuant to effective shelf registration statements filed by the issuer companies. Prospectus pricing supplements relating to such offerings can be found on Form 424B5 filings by the following banks:
First Financial Bancorp /OH/ on 6/3/10 (SEC file no. 333-156841)
Wells Fargo & Co/MN on 5/21/10 (SEC file no. 333-159736)
Valley National Bancorp on 5/19/10 (SEC file no. 333-159736)
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