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Manulife Financial Corp | Non-cumulative Rate Reset Class 1 Shares Series 5 (MFC.PRG.CA)
Prospectus excerpt: Manulife Financial Corporation, which we refer to as MFC, is offering 8,000,000 Non-cumulative Rate Reset Class 1 Shares Series 5, which we refer to as the Series 5 Preferred Shares. The holders of Series 5 Preferred Shares will be entitled to receive fixed non-cumulative preferential cash dividends, as and when declared by the board of directors of MFC, which we refer to as the Board of Directors, for the initial period commencing on the Closing Date (as defined below) and ending on and including December 19, 2016, which we refer to as the Initial Fixed Rate Period, payable quarterly on the 19th day of March, June, September and December in each year (each three-month period ending on the 19th day of each such month, a Quarter), at an annual rate equal to $1.10 per share. The initial dividend, if declared, will be payable March 19, 2012 and will be $0.313425 per share, based on the anticipated closing date of December 6, 2011. See ?Details of the Offering. For each five-year period after the Initial Fixed Rate Period, each of which we refer to as a Subsequent Fixed Rate Period, the holders of Series 5 Preferred Shares will be entitled to receive fixed non-cumulative preferential cash dividends, as and when declared by the Board of Directors, payable quarterly on the 19th day of March, June, September and December in each year, in an annual amount per share determined by multiplying the Annual Fixed Dividend Rate (as defined below) applicable to such Subsequent Fixed Rate Period by $25.00. The Annual Fixed Dividend Rate for the ensuing Subsequent Fixed Rate Period will be determined by MFC on the 30th day prior to the first day of such Subsequent Fixed Rate Period and will be equal to the sum of the Government of Canada Yield (as defined below) on the date on which the Annual Fixed Dividend Rate is determined plus 2.90%. See ?Details of the Offering?. Full Prospectus PDF », MFC.CA Page »
Series: | Class 1 Series 5 | Alternate symbology: | MFC-G.CA, MFC-PG.CA, MFCprG.CA | Redeemable?: | Yes | Call Date: | 12/19/2016 (Now Trading Post Call Date) | Perpetual?: | Yes | Cumulative?: | No | Conversion Ratio: | The holders of Series 5 Preferred Shares will have the right, at their option, to convert their shares into Non-cumulative Floating Rate Class 1 Shares Series 6 of MFC, which we refer to as the Series 6 Preferred Shares, subject to certain conditions, on December 19, 2016 and on December 19 every five years thereafter. The holders of Series 6 Preferred Shares will be entitled to receive floating rate non-cumulative preferential cash dividends, as and when declared by the Board of Directors, payable quarterly on the 19th day of March, June, September and December in each year (we refer to the initial quarterly dividend period and each subsequent quarterly dividend period as a Quarterly Floating Rate Period), in a quarterly amount per share determined by multiplying the applicable Floating Quarterly Dividend Rate (as defined below) by $25.00. The Floating Quarterly Dividend Rate will be equal to the sum of the T-Bill Rate (as defined below) plus 2.90% (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: | 8000000 | Overallotment: | 2000000 | Liquidation Preference: | $25 | Original Coupon: | 4.40% | Pay Period: | Quarterly | Pay Dates: | 19-Mar, 19-Jun, 19-Sep, 19-Dec | CDx3 Compliance Rating: |
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Manulife Financial is a holding company. Through its subsidiaries, Co. is a life insurance company. Co.'s four operating segments are: Asia, which includes a range of health, protection, savings, medical, term and whole life products; Canada, which provides life, health, disability and specialty products, such as mortgage creditor and travel insurance; U.S., which provides a range of life insurance products, insurance-based wealth accumulation products, and has an in-force long-term care insurance business and an in-force annuity business; and Global Wealth and Asset Management, which provides investment advice and solutions to retirement, retail and institutional clients. Preferreds: MFC.PRA.CA, MFC.PRB.CA, MFC.PRC.CA, MFC.PRD.CA, MFC.PRE.CA, MFC.PRF.CA, MFC.PRG.CA, MFC.PRH.CA, MFC.PRI.CA, MFC.PRJ.CA, MFC.PRK.CA Open the MFC.CA Information Page »
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