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Financial 15 Split Corporation is a high quality portfolio consisting of 15 financial services companies made up of Canadian and U.S. issuers. The portfolio shares have demonstrated a record of above-average long-term share performance and dividend growth. Financial Services companies are expected to benefit from a growing economic and capital markets recovery, earnings growth momentum and continued consolidation trends within the industry.

Canadian Issuers   U.S. Issuers
     
Bank of Montreal National Bank of Canada Bank of America Corp.
The Bank of Nova Scotia Manulife Financial Corporation Citigroup Inc.
Canadian Imperial Bank of Commerce Sun Life Financial Services of Canada Inc. Goldman Sachs
Royal Bank of Canada Great-West Lifeco Inc. JP Morgan & Chase
The Toronto-Dominion Bank CI Financial Corp. Wells Fargo & Co.

Shares held within the Portfolio are expected to range between 4-8% in weight but may vary from time to time.

 

Objectives

Preferred Shares:
(i) to provide holders of the Preferred Shares with fixed, cumulative preferential monthly cash dividends in the amount of $0.04375 per Preferred Share to yield 5.25% per annum on the original issue price; and
(ii) on or about December 1, 2015 (termination date), to pay the holders of the Preferred Shares the original issue price of those shares.

Class A Shares:
(i) to provide holders of the Class A Shares with regular monthly cash dividends targeted to be $0.1257 per Class A Share to yield 10.0% per annum (adjusted for Sept 12, 2008 consolidation) based on the original issue price; and
(ii) on or about December 1, 2015 (termination date), to pay the holders of Class A Shares at least the original issue price of those shares.

Preferred Share Highlights Class A Share Highlights

Fixed cumulative monthly dividends (5.25% or $0.525 per share annually)

Quality investments and diversification

Strong downside protection and asset coverage

Pfd-4 (high) DBRS Rating - Jan 2014

Competitive Yield

Eligible for registered accounts

Monthly cash dividends (8.0% or $1.5084 per share annually)

Quality investments and diversification

Leverage to performance of high quality stocks

Capital appreciation potential

Attractive alternative to other income vehicles

Eligible for registered accounts



     
     
     
 
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