{"id":31679,"date":"2015-12-18T22:56:50","date_gmt":"2015-12-19T03:56:50","guid":{"rendered":"http:\/\/prefblog.com\/?p=31679"},"modified":"2015-12-18T22:56:50","modified_gmt":"2015-12-19T03:56:50","slug":"gwo-pr-n-gwo-pr-o-15-conversion-to-floatingreset","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=31679","title":{"rendered":"GWO.PR.N \/ GWO.PR.O: 15% Conversion to FloatingReset"},"content":{"rendered":"<p>Great-West Lifeco Inc. <a href=\"http:\/\/www.greatwestlifeco.com\/web5\/groups\/common\/@public\/documents\/web_content\/s7_035624.pdf\">has announced<\/a>:<\/p>\n<blockquote><p>that holders of 1,475,578  Lifeco Non-Cumulative 5-Year Rate Reset First Preferred Shares, Series N (the &#8220;Series N Shares&#8221;) have elected to convert their Series N Shares on a one-for-one basis into Non-Cumulative Floating Rate First Preferred Shares, Series O (the &#8220;Series O Shares&#8221;) on December 31, 2015.<\/p>\n<p>Consequently, on December 31, 2015, Lifeco will have 8,524,422 Series N Shares and 1,475,578 Series O Shares issued and outstanding. The Series N Shares and Series O Shares will be listed on the Toronto Stock Exchange under the symbols GWO.PR.N and GWO.PR.O respectively.<\/p><\/blockquote>\n<p>It will be recalled that <a href=\"http:\/\/prefblog.com\/?p=31559\">I recommended against the conversion<\/a> and <\/p>\n<blockquote><p><a href=\"http:\/\/prefblog.com\/?p=31435\">GWO.PR.N will reset to 2.176% effective December 31<\/a>. Holders of GWO.PR.N have the option to convert to FloatingResets, which will pay <a href=\"http:\/\/prefblog.com\/?p=31435\">3-month bills plus 130bp<\/a>, reset quarterly.<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>Great-West Lifeco Inc. has announced: that holders of 1,475,578 Lifeco Non-Cumulative 5-Year Rate Reset First Preferred Shares, Series N (the &#8220;Series N Shares&#8221;) have elected to convert their Series N Shares on a one-for-one basis &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-31679","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/31679","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=31679"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/31679\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=31679"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=31679"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=31679"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}