US Financial 15 Split Corp Completes Initial Public Offering Of $115,000,000.TORONTO -- US Financial 15 Split Corp (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :FTU FTU Foreign Trade University (Hanoi, Vietnam) FTU Federation of Trade Unions (Hong Kong, China) FTU Formal Training Unit FTU Florida Times-Union (newspaper) )(TSX:FTU.PR.A)(TSX:FFN FFN Fetal Fibronectin FFN Fédération Francaise de Naturisme FFN Fanfiction.net (fan fiction archive) FFN Full Frontal Nudity (movie reference) FFN Fleet Flash Net FFN Family Financial Network )(TSX:FFN.PR.A)(TSX:FTN)(TSX:FTN.PR.A) has completed a $115,000,000 initial public offering. The shares have begun trading on the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. under the symbols FTU (Class A shares) and FTU.PR.A (Preferred shares). The fund's investment objectives are: 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. The net proceeds from the proposed offering will be used by US Financial 15 to invest in a portfolio of 15 of some of the world's strongest financial institutions: American Express Company Fifth Third Bancorp American International Group, Inc. The Goldman Sachs Group, Inc. Bank of America Corporation J.P. Morgan Chase Co. Citigroup Inc. Lehman Brothers Holdings Inc. Merrill Lynch & Co., Inc. Wachovia Corporation Morgan Stanley Washington Mutual, Inc. SunTrust Banks, Inc. Wells Fargo & Company U.S. Bancorp Shares held within the Portfolio are expected to range between 4-8% in weight but may vary from time to time. US Financial 15's shares will be eligible for RRSPs, RRIFs, DPSPs and RESPs as foreign content. To generate additional returns above the dividend income earned on the portfolio, US Financial 15 will write a selective amount of covered call options on approximately 25% of the securities in the portfolio. CIBC CIBC Canadian Imperial Bank of Commerce CIBC Centres Interinstitutionnels de Bilan de Compétences CIBC Commonwealth Institute of Biological Control (Trinidad) CIBC Commercial International Brokerage Company and RBC Capital Markets RBC Capital Markets is the corporate and investment banking division of Royal Bank of Canada ("RBC"). Broker dealers Depending on the jurisdiction, the division uses different broker dealer subsidiaries of RBC:
 This article or section is written like an .Please help [ rewrite this article] from a neutral point of view. Mark blatant advertising for , using . Inc., TD Securities Inc., National Bank Financial Inc., Desjardins Securities Inc., HSBC HSBC Hongkong and Shanghai Banking Corporation HSBC Humane Society of Broward County (Florida) HSBC Humane Society of Bay County (Bay County, Michigan) Securities (Canada) Inc., Bieber Securities Inc., Canaccord Capital Corporation, Dundee Securities Corporation, First Associates Investments Inc. and Raymond James Ltd. Please visit the Financial 15 website at www.financial15.com. US Financial 15 Split Corp. (TSX:FTU) (TSX:FTU.PR.A) (TSX:FFN) (TSX:FFN.PR.A) (TSX:FTN) (TSX:FTN.PR.A) |
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