ALLY FINANCIAL INC. : Termination of a Material Definitive Agreement, Other Events (Form 8-K)

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Item 1.02 Termination of a Material Definitive Agreement.

The information set out in Item 8.01 below, relating to satisfaction and discharge of the Deed Governing the Debentures, is incorporated by reference in this Item 1.02.


Item 8.01 Other Events.


Effective from October 15, 2021 (the “Redemption Date”), Ally Financial Inc.
(“Ally”) redeemed all of the 7,879,500 outstanding units of its 8.125% fixed / floating rate subordinated subordinated debentures due 2040 (the “Debentures”) in accordance with the terms of the Indenture. amended and updated, dated March 1, 2011 (the “act”), between Ally and The Bank of New York Mellon, as trustee (the “Trustee”), and, accordingly, GMAC Capital Trust I, a subsidiary trust of Ally, has redeemed (i) all of the outstanding 7,650,000 units of its fixed rate preferred securities / variable rate at 8.125%, Series 2 (the “TRUPS”) and (ii) all of the 229,500 units outstanding of its 8.125% Common fixed rate / variable rate securities, Series 2 (the “Common titles“). Ally has given prior notice to the holders of the Debentures, the TRUPS and the Common titles that it had chosen to redeem the Debentures, TRUPS and Common titles on the Redemption Date.

Ally has irrevocably deposited with the Trustee sufficient funds to finance the redemption of the Debentures. Accordingly, Ally has been released from its obligations under the Indenture in accordance with the satisfaction and discharge provisions therein, with effect from the date of redemption.

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