{"id":44567,"date":"2022-12-21T19:46:12","date_gmt":"2022-12-22T00:46:12","guid":{"rendered":"https:\/\/prefblog.com\/?p=44567"},"modified":"2022-12-21T19:46:12","modified_gmt":"2022-12-22T00:46:12","slug":"bn-pr-z-bn-pf-j-no-conversion-to-floatingreset","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=44567","title":{"rendered":"BN.PR.Z , BN.PF.J : No Conversion To FloatingReset"},"content":{"rendered":"

Brookfield Corporation has announced<\/a>:<\/p>\n

that after having taken into account all election notices received by the deadline for the conversion of its Cumulative Class A Preference Shares, Series 30 (the \u201cSeries 30 Shares\u201d)(TSX: BN.PR.Z) into Cumulative Class A Preference Shares, Series 31 (the \u201cSeries 31 Shares\u201d) and for the conversion of its Cumulative Class A Preference Shares, Series 48 (the \u201cSeries 48 Shares\u201d) (TSX: BN.PF.J) into Cumulative Class A Preference Shares, Series 49 (the \u201cSeries 49 Shares\u201d), there were 92,379 Series 30 Shares and 39,620 Series 48 Shares tendered for conversion, which is less than the one million shares required to give effect to conversions into Series 31 Shares and Series 49 Shares, respectively. Accordingly, there will be no conversion of Series 30 Shares into Series 31 Shares, nor of Series 48 Shares into Series 49 Shares and holders of Series 30 Shares and of Series 48 Shares will retain their Series 30 Shares and Series 48 Shares, respectively.<\/p><\/blockquote>\n

BAM.PF.J was issued as a FixedReset, 4.75%+310M475, that commenced trading 2017-9-13<\/a> after being announced 2017-09-06<\/a>. The ticker changed to BN.PF.J in December, 2022<\/a>. BN.PF.J will reset at 6.229%<\/a> effective 2023-1-1; I recommended conversion<\/a>.<\/p>\n

BAM.PR.Z was issued as a FixedReset, 4.80%+296, that commenced trading 2011-11-2<\/a> after being announced 2011-10-24<\/a>. BAM.PR.Z reset to 4.685%<\/a> effective 2018-1-1; I recommended against conversion<\/a>; and there was no conversion<\/a>. The ticker changed to BN.PR.Z in December, 2022<\/a>. BN.PR.Z will reset at 6.089%<\/a> effective 2023-1-1; I recommended conversion<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Brookfield Corporation has announced: that after having taken into account all election notices received by the deadline for the conversion of its Cumulative Class A Preference Shares, Series 30 (the \u201cSeries 30 Shares\u201d)(TSX: BN.PR.Z) into …<\/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-44567","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/44567","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=44567"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/44567\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=44567"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=44567"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=44567"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}