National Bank of Canada has announced:
its intention to redeem all of its remaining issued and outstanding Non-Cumulative 5-Year Rate Reset First Preferred Shares Series 28 (the “Preferred Shares Series 28”) on November 15, 2017 (the “Redemption Date”).
Pursuant to the share conditions, on the Redemption Date, the Bank may, at its option, redeem the Preferred Shares Series 28 at a price equal to $25.00 per share together with all declared and unpaid dividends. The declared dividends payable on November 15, 2017 will be paid to shareholders of record on October 10, 2017.
Formal notice will be issued to shareholders in accordance with the share conditions. The redemption of the Preferred Shares Series 28 is subject to the approval of the Office of the Superintendent of Financial Institutions and is part of the Bank’s ongoing management of its regulatory capital.
The Bank recommends shareholders consult with their tax advisors to determine the appropriate treatment and impact of the redemption.
NA.PR.Q is a FixedReset, 3.80%+243, that commenced trading 2012-11-7 after being announced 2012-10-30. It has been tracked by HIMIPref™ and assigned to the FixedReset subindex.
This entry was posted on Friday, September 29th, 2017 at 10:35 pm and is filed under Issue Comments. You can follow any responses to this entry through the RSS 2.0 feed.
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NA.PR.Q To Be Redeemed
National Bank of Canada has announced:
NA.PR.Q is a FixedReset, 3.80%+243, that commenced trading 2012-11-7 after being announced 2012-10-30. It has been tracked by HIMIPref™ and assigned to the FixedReset subindex.
This entry was posted on Friday, September 29th, 2017 at 10:35 pm and is filed under Issue Comments. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.