Big Banc Split Corp T.BNK

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

Financial Services Asset Management

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 > why is this breaking out today?

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Comment by ChupacabraBuenoon Apr 21, 2016 11:49am

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Post# 24794055

RE:why is this breaking out today?

snake, It would make as much sense to ask why up only 3%. You have a high probablity of $2.20 before the end of June when the deal is supposed to close. And in the (presumably) worst case scenario where the deal falls apart you have a new SP that factors in the rally in oil. SP not likely to drop to where it was. SP might even go up if the deal fell through. But in all probablity you get $2.20 before the end of June without even paying a sell commission. People should be piling in. Today they are.
-GLTA

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