Financial 15 Split Corp T.FTN

Ftn.pr preferred question

[666percent]

If i hold ftn.pr until its termination, I will be paid out 10 a share? So if I buy today at 9.50, I would lock in 5% return if they did not extend, while collecting 7.89% annual div?

[navgod]

Short answer yes. You can sell at $10 whether they extend or not as you you have option to redeem at par ie $10 at the termination date. This assumes the unit NAV is greater than $10 at the termination date.

[alkhor]

"Short answer yes. You can sell at $10 whether they extend or not as you you have option to redeem at par ie $10 at the termination date. This assumes the unit NAV is greater than $10 at the termination date." Below is the notice the last time FTN reached the termination date. There is no clause stating holders of the preferred shares to redeem thier shares at par. The only clause is

[navgod]

Go to the FTN section of the Quadravest web site and open the latest Annual Information Form. Read the Recurring Special Retration Right on page 15. Will explain all. Quadravest does not want you to retract your shares when thay extend the term maybe that's why they don't mention it in the press release. GLTA 

[alder]

Thanks very much, navgod. Very good to know ! Alder