Standard and Poor’s has announced:
S&P Dow Jones Canadian Index Services today announces that it has made a policy change to the treatment of partial calls in Preferred Share Indices. Effective immediately, S&P Dow Jones Indices will recognize all partial preferred share calls for redemption in preferred share indices. On the redemption date of the partial call, S&P Dow Jones Indices will reduce the shares outstanding of the partially called security by the amount of shares called by the issuer. In addition, S&P Dow Jones Indices will apply a price adjustment to the partially called security. The adjusted price of the partially called security will be calculated as the redemption price plus any accrued interest due to investors.
S&P/TSX Preferred Share Index
S&P/TSX North American Preferred Share Index
S&P/TSX Preferred Share Laddered IndexThe methodology documents located on the S&P Dow Jones Indices web site for each index will be updated in the coming days to reflect these changes.