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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Big Banc Split Corp

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Comment by rehsifylfon Feb 09, 2009 12:17pm

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Post# 15763876

RE: THE STRATEGIC PETROLEUM RESERVE

Another reason that OPEC will want to cut supply.

IMO, conventional crude is the new gold - and people are starting to use oil tankers and underground storage as banks. Right now the crude in the ground is safe and secure for the OPEC countries. Pumping it out and selling it at bargain basement prices, only to have the seller keep it in their 'bank' as an investment, doesn't make much sense - they would be better off to keep it in their own 'bank'.

Filling up the SPR at these prices makes great sense, because in 6 months-3 years (depending on how pesemistic you are) they will need to release significant reserves in order to prevent the price from skyrocketing (and killing the fragile recovery in its tracks). And the DOE can turn a good profit in the mix.

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