{"id":52527,"date":"2026-09-04T23:01:55","date_gmt":"2026-09-05T03:01:55","guid":{"rendered":"https:\/\/prefblog.com\/?p=52527"},"modified":"2026-09-04T23:01:55","modified_gmt":"2026-09-05T03:01:55","slug":"bn-pf-k-bn-pf-l-to-be-redeemed","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=52527","title":{"rendered":"BN.PF.K &#038; BN.PF.L To Be Redeemed"},"content":{"rendered":"<p>Brookfield Corporation <a href=\"https:\/\/bn.brookfield.com\/press-releases\/brookfield-announces-intention-redeem-its-class-preference-shares-series-51-and-52\">has announced<\/a>:<\/p>\n<blockquote><p>that it intends to redeem all of its Cumulative Redeemable Class A Preference Shares, Series 51 (the \u201cSeries 51 Shares\u201d) (TSX: BN.PF.K) and all of its Cumulative Redeemable Class A Preference Shares, Series 52 (the \u201cSeries 52 Shares\u201d) (TSX: BN.PF.L) for cash on November 1, 2026 (the \u201cRedemption Date\u201d). The redemption price for each Series 51 Share will be $22.44, together with all accrued and unpaid dividends up to but excluding the Redemption Date. The redemption price for each Series 52 Share will be $22.00. Holders of the Series 52 Shares of record as of October 15, 2026 will also receive the previously declared final quarterly dividend of $0.151250 per Series 52 Share, payable on October 30, 2026.<\/p><\/blockquote>\n<p>BAM.PF.K was <a href=\"https:\/\/prefblog.com\/?p=44515\">originally issued as BAM.PR.E<\/a>; at the time of transformation the <a href=\"https:\/\/prefblog.com\/?p=44515#comment-11782\">par value was changed from 25.00<\/a>. It formed the <a href=\"https:\/\/www.himivest.com\/media\/moneysaver_0710.pdf\">RatchetRate component of a Strong Pair<\/a>, the FixedFloater component being BAM.PR.G, now BN.PF.L. Both components of the pair are being redeemed. <\/p>\n<p>To say the redemption took the market by surprise is something of an understatement: <a href=\"https:\/\/money.tmx.com\/en\/quote\/BN.PF.K\">BN.PF.K was up 4.44, or 24.65% today<\/a> while <a href=\"https:\/\/money.tmx.com\/en\/quote\/BN.PF.L\">BN.PF.L was up 3.90, or 21.49%<\/a>.<\/p>\n<p>Thanks to Assiduous Reader <i>cwrea<\/i> for <a href=\"https:\/\/prefblog.com\/?p=44515#comment-16122\">bringing this to my attention<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Brookfield Corporation has announced: that it intends to redeem all of its Cumulative Redeemable Class A Preference Shares, Series 51 (the \u201cSeries 51 Shares\u201d) (TSX: BN.PF.K) and all of its Cumulative Redeemable Class A Preference &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-52527","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/52527","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=52527"}],"version-history":[{"count":1,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/52527\/revisions"}],"predecessor-version":[{"id":52528,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/52527\/revisions\/52528"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=52527"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=52527"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=52527"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}