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Canaccord Genuity Group Inc | Cumulative 5-Year Rate Reset First Preferred Shares, Series C (CF.PRC.CA)
Prospectus excerpt: This Prospectus qualifies the distribution (the “Offering”) of 4,000,000 Cumulative 5-Year Rate Reset First Preferred Shares, Series C (the “Series C Preferred Shares”) of Canaccord Financial Inc. (the “Company”) at a price of $25.00 per Series C Preferred Share. For the initial period commencing on the Closing Date (as defined herein) and ending on and including June 30, 2017 (the “Initial Fixed Rate Period”), the holders of Series C Preferred Shares will be entitled to receive fixed, cumulative, preferential cash dividends, as and when declared by the board of directors of the Company (the “Board of Directors”), payable quarterly on the last day of March, June, September and December in each year (provided that, should any such day not be a business day, such dividends will be payable on the next succeeding business day) in an annual amount equal to $1.4375 per Series C Preferred Share. The initial dividend, if declared, will be payable on July 3, 2012, and will be $0.3190 per Series C Preferred Share, based on the anticipated closing date for the Offering of April 10, 2012 (the “Closing Date”). See “Details of the Offering”. For each five-year period after the Initial Fixed Rate Period (each, a “Subsequent Fixed Rate Period”), the holders of Series C Preferred Shares will be entitled to receive fixed, cumulative, preferential cash dividends, as and when declared by the Board of Directors, payable quarterly on the last day of March, June, September and December during the Subsequent Fixed Rate Period, in an annual amount per share determined by multiplying the Annual Fixed Dividend Rate (as defined herein) applicable to such Subsequent Fixed Rate Period by $25.00. Should any such day not be a business day, such dividends will be payable on the next following business day. The Annual Fixed Dividend Rate for each Subsequent Fixed Rate Period will be equal to the sum of the Government of Canada Yield (as defined herein) on the 30th day prior to the first day of such Subsequent Fixed Rate Period plus 4.03%. See “Details of the Offering”. Full Prospectus PDF », CF.CA Page »
Series: | C | Alternate symbology: | CF-C.CA, CF-PC.CA, CFprC.CA | Redeemable?: | Yes | Call Date: | 6/30/2017 (Now Trading Post Call Date) | Perpetual?: | Yes | Cumulative?: | Yes | Conversion Ratio: | The holders of Series C Preferred Shares will have the right, at their option, to convert any or all of their Series C Preferred Shares into an equal number of Cumulative Floating Rate First Preferred Shares, Series D (the “Series D Preferred Shares”) of the Company, subject to certain conditions, on June 30, 2017 and on June 30 every five years thereafter. The holders of Series D Preferred Shares will be entitled to receive floating rate cumulative, preferential, cash dividends, as and when declared by the Board of Directors, payable quarterly on the last day of each Quarterly Floating Rate Period (as defined herein), in the amount per share determined by multiplying the applicable Floating Quarterly Dividend Rate (as defined herein) by $25.00. Should any such day not be a business day, such dividends will be payable on the immediately following business day. The Floating Quarterly Dividend Rate will be equal to the sum of the T-Bill Rate (as defined herein) plus 4.03% (calculated on the basis of the actual number of days elapsed in the applicable Quarterly Floating Rate Period divided by 365) determined on the 30th day prior to the first day of the applicable Quarterly Floating Rate Period. See “Details of the Offering”. | Shares Offered: | 4000000 | Overallotment: | 600000 | Liquidation Preference: | $25 | Recent Market Price: | $18.85 | Discount to Liquidation Preference: (More Preferreds Trading at a Discount ») | $-6.15 (-24.60%) | Annualized Dividend: | 1.70924 | Recent Ex-Date: | 3/14/2024 | Current Yield: | 9.07% | Original Coupon: | 5.75% | Pay Period: | Quarterly | Pay Dates: | 31-Mar, 30-Jun, 30-Sep, 31-Dec | CDx3 Compliance Rating: |
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Canaccord Genuity Group is an investment dealer with capital markets operations in North America, United Kingdom and Europe, Asia, Australia and the Middle East. Co. also has wealth management operations in Canada, United Kingdom, Jersey, Guernsey, the Isle of Man and Australia. Co.'s operations are divided into two business segments: Canaccord Genuity Capital Markets and Canaccord Genuity Wealth Management. Together, these operations provide a range of complementary investment banking services, investment products and brokerage services to Co.'s institutional, corporate and private clients. Preferreds: CF.PRA.CA, CF.PRC.CA Open the CF.CA Information Page »
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