Huntington’s long-term debt consisted of the following: | | | | | | | | | | | | | At December 31, | (dollar amounts in millions) | 2020 | | 2019 | 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) | 4 | | | 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 | 3 | | | 5 | | 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 I | 0.94 | % | (2) | $ | 70 | | | $ | 6 | | Huntington Capital II | 0.86 | | (3) | 32 | | | 3 | | Sky Financial Capital Trust III | 1.64 | | (4) | 72 | | | 2 | | Sky Financial Capital Trust IV | 1.64 | | (4) | 74 | | | 2 | | Camco Financial Trust | 1.57 | | (5) | 4 | | | 1 | | 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%.
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