| US Financial 15
Split Corporation is a high quality portfolio consisting of 15
U.S. financial services companies. 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.
Portfolio Holdings: Issuers
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| American Express |
The Goldman Sachs Group, Inc. |
SunTrust Banks, Inc. |
| American International Group Inc. |
J.P. Morgan Chase Co. |
U.S. Bancorp |
| Bank of America |
Lehman Brothers Holdings Inc. |
Wachovia Corporation |
| Citigroup Inc. |
Merrill Lynch & Co. |
Washington Mutual, Inc. |
| Fifth Third Bancorp |
Morgan Stanley |
Wells Fargo & Company |
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, 2012 (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 initially targeted to be $0.10 per Class A Share
to yield 8.0% per annum on the original issue price; and
(ii) on or about December 1, 2012 (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
P3 DBRS Rating
Competitive Yield
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Monthly cash dividends (8.0% or $1.20
per share annually)
Quality investments and diversification
Leverage to performance of high quality stocks
Capital appreciation potential
Attractive alternative to other income vehicles
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