»»ECN Capital Corp. (pfd. shares)

Bought Deal Offering of Cumulative MINIMUM 5-Year Rate Reset Preferred Shares, Series C - Limited quantities

Additional Informations

Offering Price: $25.00 per Series C Preferred Shares.
Minimum Purchase: 100 Preferred Shares.
Initial Dividend Rate: Dividend of 6.25% annually, paid quarterly for the Initial Fixed Rate Period ending on June 30, 2022.
Subsequent Fixed Rate Dividend: For every five-year after the initial Fixed Rate Period, the new rate will be equal to the 5-Year Government of Canada Bond Yield plus 5.19%. (With a minimum Dividend rate of 6.25%).
Redemption for cash: Redeemable at the option of ECN Capital Corp. on June 30, 2022 at $25.00 per Series C Preferred Share and on June 30 every five years thereafter.
Conversion Option: Holders of Series C Preferred Share will have the right to convert every five years their Shares into Cumulative Floating Rate Preferred Shares Series D. Holders of the Series D Preferred Shares will receive a Floating Quarterly Dividend equal to the 90-day Canadian Treasury Bill Rate plus 5.19%.
Eligibility for RRSP & TFSA : Yes
Provisional Ratings: DBRS: Pfd-3 (low),
Settlement Date: On May 25, 2017.
Commission received from the Issuer: Desjardins online brokerage will receive a commission of $0.40 per share.
Web site of the issuer: www.ecncapitalcorp.com
Prospectus: For more information please refer to the prospectus at www.sedar.com.

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