Big Banc Split Corp T.BNK

Alternate Symbol(s): T.BNK.PR.A

The investment objectives for the Preferred Shares are to provide their holders with fixed cumulative preferential monthly cash distributions in the amount of $0.05 per Preferred Share ($0.60 per annum or 6.0% per annum on the issue price of $10.00 per Preferred Share) until November 30, 2023 (the Maturity Date) and to return the original issue price of $10.00 to holders on the Maturity Date. The Company will invest on an approximately equally-weighted basis in Portfolio Shares of the following publicly traded Canadian banks: Bank of Montreal; Canadian Imperial Bank of Commerce; National Bank of Canada; Royal Bank of Canada; The Bank of Nova Scotia; and The Toronto-Dominion Bank. The Portfolio will generally be rebalanced on a quarterly basis, starting on September 30, 2020, so that as soon as practicable after each calendar quarter the Portfolio Shares will be held on an approximately equal weight basis.

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Post by bagoon Jun 21, 2016 7:17pm

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Post# 24985439

Just...

wish they would hurry up and get this done. Have way too much money tied up here and would like to let it go to work with oil flying. If we get news tomorrow or the day after and we hit 2.15 or so I will pull the trigger and leave some on the table as opportunities are passing us by while we sit here and wait. To me this deal is as good as gold but to be honest with the money sitting in BNK it cost me a lot more than the 10% I'm waiting to realize....glta

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