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LONG-TERM DEBT (Tables)
12 Months Ended
Dec. 31, 2020
Debt Instruments [Abstract]  
Schedule of Long-Term Debt
Huntington’s long-term debt consisted of the following:
 At December 31,
(dollar amounts in millions)20202019
The Parent Company:
Senior Notes:
3.19% Huntington Bancshares Incorporated medium-term notes due 2021
$802 $993 
2.33% Huntington Bancshares Incorporated senior notes due 2022
699 972 
2.67% Huntington Bancshares Incorporated senior notes due 2024
838 798 
4.05% Huntington Bancshares Incorporated senior notes due 2025
553 528 
2.60% Huntington Bancshares Incorporated senior notes due 2030
743 — 
Subordinated Notes:
7.00% Huntington Bancshares Incorporated subordinated notes due 2020
— 305 
3.55% Huntington Bancshares Incorporated subordinated notes due 2023
256 247 
Huntington Capital I Trust Preferred 0.94% junior subordinated debentures due 2027 (1)
69 70 
Huntington Capital II Trust Preferred 0.86% junior subordinated debentures due 2028 (2)
32 32 
Sky Financial Capital Trust III 1.64% junior subordinated debentures due 2036 (3)
72 72 
Sky Financial Capital Trust IV 1.64% junior subordinated debentures due 2036 (3)
74 74 
Camco Financial Statutory Trust I 1.57% due 2037 (4)
Total notes issued by the parent
4,142 4,095 
The Bank:
Senior Notes:
2.47% Huntington National Bank senior notes due 2020
— 699 
2.42% Huntington National Bank senior notes due 2020 (5)
— 300 
2.43% Huntington National Bank senior notes due 2020
— 500 
2.97% Huntington National Bank senior notes due 2020
— 499 
0.79% Huntington National Bank senior notes due 2021 (6)
298 299 
3.33% Huntington National Bank senior notes due 2021
752 759 
2.55% Huntington National Bank senior notes due 2022
710 691 
3.16% Huntington National Bank senior notes due 2022
511 507 
1.83% Huntington National Bank senior notes due 2023
489 — 
3.60% Huntington National Bank senior notes due 2023
773 778 
Subordinated Notes:
3.86% Huntington National Bank subordinated notes due 2026
233 231 
Total notes issued by the bank
3,766 5,263 
FHLB Advances:
1.54% weighted average rate, varying maturities greater than one year
Other:
Huntington Technology Finance nonrecourse debt, 3.63% weighted average interest rate, varying maturities
266 312 
2.12% Huntington Preferred Capital II - Class F securities (7)
75 74 
2.12% Huntington Preferred Capital II - Class G securities (7)
50 50 
2.24% Huntington Preferred Capital II - Class I securities (8)
50 50 
Total long-term debt$8,352 $9,849 
(1)Variable effective rate at December 31, 2020, based on three-month LIBOR +0.70%
(2)Variable effective rate at December 31, 2020, based on three-month LIBOR +0.625%
(3)Variable effective rate at December 31, 2020, based on three-month LIBOR +1.40%
(4)Variable effective rate at December 31, 2020, based on three-month LIBOR +1.33%
(5)Variable effective rate at December 31, 2019, based on three-month LIBOR +0.51%
(6)Variable effective rate at December 31, 2020, based onthree-month LIBOR +0.55%
(7)Variable effective rate at December 31, 2020, based on three-month LIBOR +1.88%
(8)Variable effective rate at December 31, 2020, based on three-month LIBOR +2.00%
The trust securities are the obligations of the trusts, and as such, are not consolidated within Huntington’s Consolidated Financial Statements.
A list of trust-preferred securities outstanding at December 31, 2020 follows:
(dollar amounts in millions)Rate
Principal amount of
subordinated note/
debenture issued to trust (1)
Investment in
unconsolidated
subsidiary
Huntington Capital I0.94 %(2)$70 $
Huntington Capital II0.86 (3)32 
Sky Financial Capital Trust III1.64 (4)72 
Sky Financial Capital Trust IV1.64 (4)74 
Camco Financial Trust1.57 (5)
Total$252 $14 
(1)Represents the principal amount of debentures issued to each trust, including unamortized original issue discount.
(2)Variable effective rate at December 31, 2020, based on three-month LIBOR + 0.70%.
(3)Variable effective rate at December 31, 2020, based on three-month LIBOR + 0.625%.
(4)Variable effective rate at December 31, 2020, based on three-month LIBOR + 1.40%.
(5)Variable effective rate at December 31, 2020, based on three month LIBOR + 1.33%.
Schedule Of Debt Issuances
The following table presents senior notes issued during 2020:
Date of IssuanceIssuerAmount% of face valueInterest RateTermMaturity
January 2020Bank$500  million99.916 %1.80 %fixedFebruary 3, 2023
January 2020Parent750  million99.597 2.55 fixedFebruary 4, 2030
Schedule of Maturities of Long-term Debt
Long-term debt maturities for the next five years and thereafter are as follows:
(dollar amounts in millions)20212022202320242025ThereafterTotal
The Parent Company:
Senior notes$800 $700 $— $800 $500 $750 $3,550 
Subordinated notes— — 250 — — 253 503 
The Bank:
Senior notes1,044 1,198 1,202 — — — 3,444 
Subordinated notes— — — — — 250 250 
FHLB Advances— — — 
Other22 141 136 103 39 — 441 
Total$1,866 $2,040 $1,589 $903 $539 $1,254 $8,191