SVB Financial Group Announces Pricing of $350 Million Preferred Stock Depositary Shares Offering

SANTA CLARA, Calif., Dec. 2, 2019 /PRNewswire/ -- SVB Financial Group ("SVB") (NASDAQ: SIVB) today announced the pricing of an offering of 14,000,000 depositary shares, each representing a 1/40^th interest in a share of its 5.250% fixed-rate non-cumulative perpetual Series A Preferred Stock, liquidation amount $1,000 per share (equivalent to $25 per depositary share) at an aggregate offering price of $350 million. The offering is expected to close on December 9, 2019, subject to customary closing conditions.

SVB intends to use the net proceeds of the offering for general corporate purposes, which may include the retirement of a portion of its outstanding debt, including the early redemption of its outstanding $350 million 5.375% Senior Notes due 2020, which is set to occur on December 20, 2019.

BofA Securities, Inc., Morgan Stanley & Co. LLC, and Wells Fargo Securities, LLC are acting as joint book-running managers for the offering. Keefe, Bruyette & Woods, Inc. is acting as co-manager.

The offering is being made pursuant to an effective shelf registration statement, including a prospectus and prospectus supplement, filed by SVB with the U.S. Securities and Exchange Commission ("SEC"). Before investing, investors should read the prospectus in that registration statement, the related prospectus supplement and other documents SVB has filed with the SEC for more complete information about SVB and the offering. These documents may be obtained for free by visiting the SEC website at www.sec.gov. Alternatively, SVB, any underwriter or any dealer participating in the offering will arrange to send you the prospectus and prospectus supplement contained in the registration statement, together with the related prospectus supplement, if you request it by contacting BofA Securities, Inc. at 1-800-294-1322, Morgan Stanley & Co. LLC toll-free at 1-866-718-1649, or Wells Fargo Securities, LLC at 1-800-645-3751. This press release is for informational purposes only and does not constitute an offer to sell, or a solicitation of an offer to buy, these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About SVB Financial Group
For more than 35 years, SVB Financial Group (NASDAQ: SIVB) and its subsidiaries have helped innovative companies and their investors move bold ideas forward, fast. SVB Financial Group's businesses, including Silicon Valley Bank, offer commercial, investment and private banking, asset management, private wealth management, brokerage and investment services and funds management services to companies in the technology, life science and healthcare, private equity and venture capital, and premium wine industries. Headquartered in Santa Clara, California, SVB Financial Group operates in centers of innovation around the world.

SVB Financial Group is the holding company for all business units and groups ^© 2019 SVB Financial Group. All rights reserved. SVB, SVB >, SVB Financial Group, Silicon Valley Bank, Make Next Happen Now and the chevron device are trademarks of SVB Financial Group, used under license. Silicon Valley Bank is a member of the FDIC and the Federal Reserve System. Silicon Valley Bank is the California bank subsidiary of SVB Financial Group.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to known and unknown risks and uncertainties, many of which may be beyond SVB Financial Group's control. Forward-looking statements are statements that are not historical facts and generally can be identified by the use of such words as "becoming," "may," "will," "should," "could," "would," "predict," "potential," "continue," "anticipate," "believe," "estimate," "seek," "expect," "plan," "intend," the negative of such words or comparable terminology. Although SVB Financial Group believes that the expectations reflected in SVB Financial Group's forward-looking statements are reasonable, SVB Financial Group has based these expectations on its current beliefs as well as its assumptions, and such expectations may not prove to be correct. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside SVB Financial Group's control. SVB Financial Group's actual results of operations and financial performance could differ significantly from those expressed in or implied by SVB Financial Group forward-looking statements. The forward-looking statements included in this disclosure are made only as of the date of this disclosure. SVB Financial Group does not intend, and undertakes no obligation, to update these forward-looking statements.

SOURCE SVB Financial Group

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