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Brookfield Asset Management Ltd | Cumulative Class A Preference Shares, Series 28 (BAM.PRX.CA)
Prospectus excerpt: Brookfield Asset Management may not redeem the Series 28 Preferred Shares prior to June 30, 2017. On June 30, 2017 and on June 30 every five years thereafter (each, a “Conversion Date”), the company may, subject to applicable law, at its option without the consent of the holders, redeem all or any part of the then outstanding Series 28 Preferred Shares by the payment of $25.00 per share together with all accrued and unpaid dividends thereon up to but excluding the date of payment or distribution (less any tax required to be deducted and withheld). Notice of any redemption must be given by the company at least 30 days and not more than 60 days prior to the date fixed for redemption. Full Prospectus PDF », BAM Page »
Series: | 28 | Alternate symbology: | BAM-X.CA, BAM-PX.CA, BAMprX.CA | Redeemable?: | Yes | Call Date: | 6/30/2017 (Now Trading Post Call Date) | Perpetual?: | Yes | Cumulative?: | Yes | Conversion Ratio: | Subject to certain restrictions, the holders of the Series 28 Preferred Shares have the right on any Conversion Date to convert any or all of the Series 28 Preferred Shares held by them for Cumulative Class A Preference Shares, Series 29 of the company (the “Series 29 Preferred Shares”), on a one-for-one basis. Such a conversion of Series 28 Preferred Shares for Series 29 Preferred Shares must be initiated not less than 15 days and not more than 30 days prior to a Conversion Date. Under certain circumstances, the Series 28 Preferred Shares automatically convert into Series 29 Preferred Shares, on a one-for-one basis. | Shares Offered: | 8600000 | Liquidation Preference: | $25 | Original Coupon: | The initial dividend will be payable on March 31, 2011 and will be sh.1607 per share. The annual fixed dividend rate for each subsequent 5-year fixed rate period will be equal to the sum of the 5-year Government of Canada bond yield on the 30th day prior to the first day of such subsequent fixed rate period plus 1.80%. The annual fixed dividend for each such period will be equal to the applicable Annual Fixed Dividend Rate multiplied by 5.00. | Pay Period: | Quarterly | Pay Dates: | 31-Mar, 30-Jun, 30-Sep, 31-Dec | CDx3 Compliance Rating: |
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Brookfield Asset Management is an alternative asset manager, with assets under management across renewable power and transition, infrastructure, private equity, real estate and credit. Co. focuses on real assets and essential service businesses. Preferreds: BAM.PRB.CA, BAM.PRC.CA, BAM.PRE.CA, BAM.PRG.CA, BAM.PRI.CA, BAM.PRJ.CA, BAM.PRK.CA, BAM.PRL.CA, BAM.PRM.CA, BAM.PRN.CA, BAM.PRO.CA, BAM.PRP.CA, BAM.PRR.CA, BAM.PRT.CA, BAM.PRX.CA, BAM.PRZ.CA Open the BAM Information Page »
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