Ted, if you own this paper, retrieve the prospectus you receveid from you broker or go SEC filings on the BB&T website and look for yourself. Given it was a "new issue" there should be a prospectus supplement filed(I think this is a rule 424B5 filing)around the date the offering was completed. I managed to buy some of these shares at the "IPO" price and while I have enjoyed the 8.95% coupon, it is a no-brainer for the company to call them at the first opportunity.
As I am sure you know, the quarterly "dividends" on these securities are taxed as ordinary income while any gains or losses are treated as "capital" in nature. In other words, they are taxed just like a bond.
Again, look it up for youself. I think all of this information can be found in the prospectus summary.