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IA Financial Corp Inc | Non-Cumulative 5-Year Rate Reset Class A Preferred Shares Series G (IAG.PRG.CA)
Prospectus excerpt: The Non-Cumulative 5-Year Rate Reset Class A Preferred Shares Series G (the Series G Preferred Shares) of Industrial Alliance Insurance and Financial Services Inc. (Industrial Alliance or the Company) offered by this prospectus supplement constitute an additional issuance of Series G Preferred Shares that the Company initially issued on June 1, 2012 (the Initial Closing Date). See "Details of the Offering — Certain Provisions of the Series G Preferred Shares as a Series - General". The Company anticipates that the closing date of this offering will be June 28, 2012. The holders of Series G Preferred Shares will be entitled to receive fixed non-cumulative preferential cash dividends, as and when declared by the board of directors of Industrial Alliance (the Board of Directors)for the initial period from and including the Initial Closing Date, to but excluding June 30, 2017 (the Initial Fixed Rate Period), payable quarterly on March 31, June 30, September 30 and December 31 in each year, at an annual rate equal to $1.0750 per Series G Preferred Share. The initial dividend, if declared, will be payable on September 30, 2012 and will amount to $0.3564 per Series G Preferred Share, representing the dividend, if declared, that will be computed by reference to the Initial Closing Date. See “Details of the Offering”. Full Prospectus PDF », IAG.CA Page »
Series: | G | Alternate symbology: | IAG-G.CA, IAG-PG.CA, IAGprG.CA | Redeemable?: | Yes | Call Date: | 6/30/2017 (Now Trading Post Call Date) | Perpetual?: | Yes | Cumulative?: | No | Conversion Ratio: | Subject to the Company’s right to redeem all the Series G Preferred Shares and to the prior consent of the Autorité des marchés financiers (the AMF), the holders of Series G Preferred Shares will have the right, at their option, to convert any or all of their Series G Preferred Shares into an equal number of Non- Cumulative Floating Rate Class A Preferred Shares Series H of Industrial Alliance (the Series H Preferred Shares), subject to certain conditions, on June 30, 2017 and on June 30 every five years thereafter. The holders of Series H Preferred Shares will be entitled to receive floating rate noncumulative preferential cash dividends, as and when declared by the Board of Directors, payable quarterly on March 31, June 30, September 30 and December 31 in each year (the initial quarterly dividend period and each subsequent quarterly dividend period is referred to as a Quarterly Floating Rate Period), in the amount per Series H Preferred Share determined by multiplying the applicable Floating Quarterly Dividend Rate (as defined herein) by $25.00. The Floating Quarterly Dividend Rate will be equal to the sum of the T-Bill Rate (as defined herein) plus 2.85% (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 | Shares Offered: | 4000000 | Liquidation Preference: | $25 | Original Coupon: | 4.30% | Pay Period: | Quarterly | Pay Dates: | 31-Mar, 30-Jun, 30-Sep, 31-Dec | CDx3 Compliance Rating: |
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IA Financial is a holding company. Co. has five segments: Individual Insurance, which includes disability and mortgage insurance products; Individual Wealth Management, which includes individual products and services for savings plans; Group Insurance, which includes life, health, accidental death and dismemberment, dental care and short and long-term disability insurance products for employee plans; Group Savings and Retirement, which includes group products and services for savings plans; and United States Operations, which includes miscellaneous insurance products sold in United States. Preferreds: IAG.PRA.CA, IAG.PRC.CA, IAG.PRE.CA, IAG.PRF.CA, IAG.PRG.CA Open the IAG.CA Information Page »
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