OFG S-1 SEC Filing Analysis

Final — all horizons settled through T+60d

OFG ▲ +15.59% at T+60d

NEUTRAL call ✓ call won +15.59% · α vs SPY +4.07% · entry $38.70 → $44.73

Last close $48.06 (close Jun 12) · +24.20% from $38.70 entry

Entry anchored
Mar 10, 03:59 PM ET
via Databento tick

T+1d

+0.41%

call +0.41% · α +1.89%

$38.86

settled 3mo ago

T+5d

-0.90%

call -0.90% · α +1.29%

$38.35

settled 3mo ago

T+20d

+12.05%

call +12.05% · α +11.53%

$43.36

settled 2mo ago

T+60d

+15.59%

call +15.59% · α +4.07%

$44.73

settled 10d ago

Executive Summary

OFG Bancorp, a Puerto Rico-based bank holding company, is issuing $200 million in fixed-to-floating rate subordinated notes due 2036. The proceeds will be used for general corporate purposes. The notes are unsecured, subordinated to senior debt, and structurally subordinated to subsidiary liabilities, including $10.3 billion in deposits. OFG intends to treat the notes as Tier 2 capital.

Actionable Insight

Traders should monitor OFG's capital ratios and regulatory filings to assess the impact of this new debt issuance on its Tier 2 capital status and overall financial health.

Key Facts

OFG Bancorp is issuing $200 million in subordinated notes due 2036.
The notes are unsecured and rank junior to all senior debt and subsidiary liabilities.
Proceeds will be used for general corporate purposes.
OFG had $12.5 billion in total assets and $1.4 billion in stockholders' equity as of December 31, 2025.
The notes are intended to qualify as Tier 2 capital under Federal Reserve rules.

Financial Impact

$200 million in new subordinated debt

debtcapital structure

Risk Factors

The notes are structurally subordinated to $10.3 billion in subsidiary deposits.
OFG's ability to pay interest depends on dividends from its bank subsidiary, which are subject to regulatory limits.
The notes may be redeemed at OFG's option starting April 1, 2031, creating reinvestment risk.

Market Snapshot

Exchange

NYSE

Documents Analyzed

This report is based on 2 SEC documents filed with EDGAR.

Document	Accession Number
S-1 Filing (Primary)	0001140361-26-008961
Document: ny20066736x4_ex4-3.htm	0001140361-26-008961

2 reports for OFG

T+1T+5T+20T+60

Track record builds as more directional reports settle.

Filters

Reports for OFG — sortable, filterable
	Type				Now
Apr 21, 2026 7w ago	8-K BULLISH ★ 8/10	$44.71 $44.67	▼ −0.09%	▼ −5.00%	$48.06 (+7.49%)
Mar 11, 2026 13w ago	S-1 NEUTRAL ★ 4/10	$38.70 $43.36	▲ +12.05%	▲ +11.53%	$48.06 (+24.20%)

US Market Status

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