 鲜花( 26)  鸡蛋( 0)
|

楼主 |
发表于 2008-11-29 16:58
|
显示全部楼层
下面是BMO的:
8 K% ^& I# w3 e6 |SUMMARY OF THE OFFERING% W9 Z& x4 J, I: y7 q; N/ H6 C+ J
This summary is qualified by the detailed information appearing elsewhere in this short form prospectus. For adefinition of certain terms used in this summary, refer to ‘‘Details of the Offering’’.
h0 @" ]8 h; P' y( \Issue: Non-Cumulative 5-Year Rate Reset Class B Preferred Shares, Series 18.
8 X, X% L; U; m$ \! A$ yAmount: $150,000,000 (6,000,000 shares).
- D* c( z! b% u: X& z& W7 J5 x* m% ?Price and Yield: $25.00 per share to yield initially 6.50% per annum.
+ k5 R ?* V4 Z/ Z7 f' TPrincipal Characteristics of the Preferred Shares Series 18
: j/ z- W6 D0 iDividends: The holders of the Preferred Shares Series 18 will be entitled to receive fixed
& v, t# `$ `! J. n" P0 Unon-cumulative preferential cash dividends, as and when declared by the7 y$ A& l& I6 {
Board of Directors, subject to the provisions of the Bank Act, for the initial
- ?, A4 U5 |! ?4 I+ ]period commencing on the closing date and ending on and including" q2 Z4 o" q- C6 B) G0 E; w/ B- ?
February 25, 2014 (the ‘‘Initial Fixed Rate Period’’), payable quarterly on the; x: t+ {( ?, I
25th day of February, May, August and November in each year, at a rate
4 [, L' t+ N. U* j9 }9 w* ?equal to $0.40625 per share. The initial dividend, if declared, will be payable
- { j g+ y g: `2 A& JMay 25, 2009 and will be $0.73459 per share, based on the anticipated closing- u8 T4 H2 i# n( h! u
date of December 11, 2008.. `/ C! O- z+ `0 ]7 _& P
For each five-year period after the Initial Fixed Rate Period (each, a0 h" Y. I! O4 ]& ]; K3 a6 z
‘‘Subsequent Fixed Rate Period’’), the holders of the Preferred Shares; c+ x! s9 C/ z3 K l; M# Z
Series 18 will be entitled to receive fixed non-cumulative preferential cash) x: B( P# {+ h* R
dividends, as and when declared by the Board of Directors, subject to the
; _/ I5 H8 E# h. M( u! ?' fprovisions of the Bank Act, payable quarterly on the 25th day of February,
( c1 t. U7 S8 r5 r2 i( X+ K6 FMay, August and November in each year, in the amount per share per annum
' d: ~! {! A0 U8 Gdetermined by multiplying the Annual Fixed Dividend Rate applicable to2 |8 C# z" ]# C( }
such Subsequent Fixed Rate Period by $25.00. The Annual Fixed Dividend
+ G& ^; x. a9 P' o, R+ FRate for the ensuing Subsequent Fixed Rate Period will be determined by the
- V! ]: p- Z- qBank on the 30th day (a ‘‘Fixed Rate Calculation Date’’) prior to the first day9 T! v! j5 o v: @# A1 C
of such Subsequent Fixed Rate Period and will be equal to the sum of the( N8 ~* m/ F! ~% I: B
Government of Canada Yield on the applicable Fixed Rate Calculation Date
& w4 b2 h) c3 V {$ B2 ~plus 3.83%.
& ]) {; S$ [1 V: h8 U/ GIf the Board of Directors does not declare a dividend, or any part thereof, on
2 [4 u6 P$ I$ \8 Bthe Preferred Shares Series 18 on or before the dividend payment date for a
& g' d( S, }; {7 L8 W: b9 mparticular quarter, then the entitlement of the holders of the Preferred7 ?- G: i; X# r. ~. |
Shares Series 18 to receive such dividend, or to any part thereof, for such
5 A( f+ s' f) i0 qquarter will be forever extinguished.7 a: d6 R& S6 F5 t' i
Redemption: Subject to the provisions of the Bank Act and to the prior consent of the
) o( _7 [$ B9 m8 T$ X! a5 |# {Superintendent and to the provisions described below under ‘‘Details of the: y7 D* V U2 l9 W
Offering — Certain Provisions of the Preferred Shares Series 18 as a
: ^8 d" J6 a# R0 R+ _& lSeries — Restrictions on Dividends and Retirement of Shares’’, on: o$ K% ]5 P1 d$ A$ }
February 25, 2014 and on February 25 every five years thereafter, on not
) @! x0 {- ~4 kmore than 60 nor less than 30 days’ notice, the Bank may redeem all or any
8 n% U7 M5 z7 ]" q3 jpart of the then outstanding Preferred Shares Series 18, at the Bank’s option/ U: s5 J! x* A& O
without the consent of the holder, by the payment of an amount in cash for d! x9 I# C$ U& l/ @; @! c8 H
each such share so redeemed of $25.00 together with all declared and unpaid5 D5 w9 ^3 B1 j, w
dividends to the date fixed for redemption.
$ z, x- |4 e8 y, C4 p$ c' z! Y* }Conversion into Preferred Holders of Preferred Shares Series 18 will, subject to the automatic2 @( A- [: t% s
Shares Series 19: conversion provisions and the right of the Bank to redeem those shares, have
- o! F# N9 G; h- m. uthe right, at their option, to convert, on February 25, 2014 and on
$ _. e( b4 s* T: MS-4! j( D* w: \) w' z4 {5 X! l: h8 n
February 25 every five years thereafter (a ‘‘Series 18 Conversion Date’’), any
' L5 _! u/ V; a& z' m2 yor all of their Preferred Shares Series 18 into an equal number of Preferred
8 \) }4 x7 Z/ wShares Series 19 upon giving to the Bank notice thereof not earlier than
* w V( q; h Q q30 days prior to, but not later than 5:00 p.m. (Toronto time) on the 15th day
! e/ l) f' I; E/ h. n- `1 Npreceding, a Series 18 Conversion Date.( U- k9 d4 p/ e6 s5 U* [
Automatic Conversion If the Bank determines, after having taken into account all shares tendered& B0 ?* u8 c" K2 M g
Provisions: for conversion by holders of Preferred Shares Series 18 and Preferred Shares9 J3 A# ^- K; R
Series 19, as the case may be, that there would be outstanding on such
! N- ]5 g. G# O$ V. L. Z3 E4 iSeries 18 Conversion Date less than 1,000,000 Preferred Shares Series 18,; c" g- }0 I u; {; @% Z
such remaining number of Preferred Shares Series 18 will automatically be
" H8 T# C w+ T ]9 Pconverted on such Series 18 Conversion Date into an equal number of
c4 a9 `) U+ X$ C O RPreferred Shares Series 19. Additionally, if the Bank determines that, after n3 o$ W7 s e. ] W, k
conversion, there would be outstanding on such Series 18 Conversion Date
5 a) C# J( u0 o0 o/ Lless than 1,000,000 Preferred Shares Series 19 then no Preferred Shares
7 N: f' g/ j9 g$ a1 Q% k5 c9 aSeries 18 will be converted into Preferred Shares Series 19.% y$ S% k6 u- v2 l/ H- n4 o/ I
Voting Rights: Subject to the provisions of the Bank Act, the holders of Preferred Shares
" X4 E: N+ \( u0 y; USeries 18 will not be entitled as such to receive notice of, attend, or vote at,. a0 X3 s6 e+ b' `+ f1 e1 Y
any meeting of the shareholders of the Bank unless and until the first time at
$ G3 W5 n9 N: t0 C2 d/ k! G# Uwhich the Board of Directors has not declared the whole dividend on the
2 D* G* C: u- ~7 n! B( C* V, {Preferred Shares Series 18 in any quarter. In that event, subject as! K) j0 A! w0 k( A2 ?
hereinafter provided, the holders of Preferred Shares Series 18 will be% ? ~2 F M- f* G0 Z6 K
entitled to receive notice of, and to attend, meetings of shareholders at which
. u' N6 S5 O8 t. P7 A9 l1 Z+ zdirectors of the Bank are to be elected and will be entitled to one vote for
: _: N: C- G: f8 geach Preferred Share Series 18 held. The voting rights of the holders of the( C" J3 u6 Q x9 k0 I! t) F+ }
Preferred Shares Series 18 will forthwith cease upon payment by the Bank of
5 L; O2 J( r3 m: @- Jthe first dividend on the Preferred Shares Series 18 to which the holders are' Y( O( {- G F! @+ B! f7 E
entitled thereunder subsequent to the time such voting rights first arose until
8 c' M7 b7 p& G3 G$ g' ~, z9 bsuch time as the Bank may again fail to declare the whole dividend on the
) {8 A _, ?: K4 A3 K: w' i, }* uPreferred Shares Series 18 in respect of any quarter, in which event such
# o) P) R( _. x5 L- |% x; J3 hvoting rights will become effective again and so on from time to time.- h- C$ D3 H5 `5 y& A0 f6 i
Principal Characteristics of the Preferred Shares Series 19
+ _: S. Z. R0 _( f: o: YDividends: The holders of the Preferred Shares Series 19 will be entitled to receive
4 W) c/ n0 x* `2 Sfloating rate non-cumulative preferential cash dividends, as and when1 K7 j K% t E1 ?+ Q
declared by the Board of Directors, subject to the provisions of the Bank Act,- g- f! V! c; q: f
payable quarterly on the 25th day of February, May, August and November
8 P# Y0 m- n/ S% k9 s, I7 ]in each year, in the amount per share determined by multiplying the
7 x. d; ^5 U, e2 Mapplicable Quarterly Floating Dividend Rate by $25.00.4 O. }9 \2 M0 G( z8 {1 z
On the 30th day prior to the commencement of the initial quarterly dividend4 Z- w5 u+ }; |4 |8 m+ C+ G( Z
period beginning on February 25, 2014, and on the 30th day prior to the first! E, m* J) O3 \. K* i& F2 s
day of each subsequent quarterly dividend period (the initial quarterly4 y7 ]" D: }& a! p1 m
dividend period and each subsequent quarterly dividend period is referred to
9 B& m8 |5 ]" |1 `9 _8 gas a ‘‘Quarterly Floating Rate Period’’), the Bank will determine the
+ t# a& k" p: U$ e" e) a y) q+ e XQuarterly Floating Dividend Rate for the ensuing Quarterly Floating Rate
& f: L( K" I1 C( {- W6 _8 mPeriod. The Quarterly Floating Dividend Rate will be equal to the sum of the0 ?& s* i, V- \
T-Bill Rate plus 3.83% (calculated on the basis of the actual number of days
3 G& `) J" ^5 ~9 k4 i4 m; ^+ ]elapsed in the applicable Quarterly Floating Rate Period divided by 365)
& P( e% Q' |- e5 I: m/ t% I0 ~determined on the 30th day prior to the first day of the applicable Quarterly
* E4 S7 X2 v4 b2 ^9 m0 o1 G3 uFloating Rate Period.
' V+ ^& Z( v R# ?1 |S-5, u% b# \3 Z" D- L: u0 u
If the Board of Directors does not declare a dividend, or any part thereof, on
) @" g" i, A. R5 ]! n! g# M5 hthe Preferred Shares Series 19 on or before the dividend payment date for a
" i: R$ x0 ^8 w+ U. S) B/ Oparticular quarter, then the entitlement of the holders of the Preferred
l8 @2 a# j: Z$ S( MShares Series 19 to receive such dividend, or to any part thereof, for such+ ?' Y$ z5 Q! q V
quarter will be forever extinguished.
! F) `9 u6 U* m8 A8 zRedemption: Subject to the provisions of the Bank Act and to the prior consent of the3 X: S; M) F/ O# J" \9 {
Superintendent and to the provisions described below under the heading2 V: F R# X; {5 A# ~
‘‘Details of the Offering — Certain Provisions of the Preferred Shares
: s1 U4 a) \# B& GSeries 19 as a Series — Restrictions on Dividends and Retirement of Shares’’,
8 o( }& k- _% @% w1 v. [( Aon not more than 60 nor less than 30 days’ notice, the Bank may redeem all
( \. I0 K4 g: r. e' [: e) x) For any part of the then outstanding Preferred Shares Series 19, at the Bank’s
3 k) I( G9 c1 g/ ?0 @option without the consent of the holder, by the payment of an amount in+ Y. N6 Y* M- C3 S9 j$ B
cash for each such share so redeemed of (i) $25.00 together with all declared/ W) e; w5 q- H) k
and unpaid dividends to the date fixed for redemption in the case of
6 i: N+ `. ]* Aredemptions on February 25, 2019 and on February 25 every five years; f7 V8 p! w9 Z7 s) I. ]1 _* r& I
thereafter, or (ii) $25.50 together with all declared and unpaid dividends to
+ N: M1 W6 \+ t2 N& S9 Hthe date fixed for redemption in the case of redemptions on any other date
6 w% p* ?* o, O1 u& Z- f0 mon or after February 25, 2014.! ]1 }: `. {8 i/ w$ g- x
Conversion into Preferred Holders of Preferred Shares Series 19 will, subject to the automatic
9 k+ B/ `6 M/ P4 |# XShares Series 18: conversion provisions and the right of the Bank to redeem those shares, have0 Z t, z$ \. Z, V% O2 s! ^
the right, at their option, to convert, on February 25, 2019 and on- M; r0 R; m$ O; M, x5 J" [ g
February 25 every five years thereafter (a ‘‘Series 19 Conversion Date’’), any, ~2 E6 c& Z: K
or all of their Preferred Shares Series 19 into an equal number of Preferred H, l8 _. e$ W; o. F& V/ ]
Shares Series 18 upon giving to the Bank written notice thereof not earlier
. W4 u2 c8 t4 J( w+ y. @than 30 days prior to, but not later than 5:00 p.m. (Toronto time) on the
' p; S! [4 ^9 {4 x& Q# U' `& y15th day preceding, a Series 19 Conversion Date.( M1 Q- [. e, O6 l/ W" D
Automatic Conversion If the Bank determines, after having taken into account all shares tendered; d' M) z! p6 i" \
Provisions: for conversion by holders of Preferred Shares Series 19 and Preferred Shares+ l! b, z1 j; l1 U
Series 18, as the case may be, that there would be outstanding on such
+ ?5 M7 ~; z5 j7 [. H* r7 }Series 19 Conversion Date less than 1,000,000 Preferred Shares Series 19,
5 b) ?2 |, v g/ F" A( v$ Qsuch remaining number of Preferred Shares Series 19 will automatically be# |1 V" g+ O" E7 Y$ {
converted on such Series 19 Conversion Date into an equal number of
' V7 g/ X! Z6 t+ yPreferred Shares Series 18. Additionally, if the Bank determines that, after
- G5 o( i* d Wconversion, there would be outstanding on such Series 19 Conversion Date
! ~/ _1 Y& c" [3 }+ I8 c; Gless than 1,000,000 Preferred Shares Series 18 then no Preferred Shares
3 Z) x! C- A9 B1 ?* F; B) T iSeries 19 will be converted into Preferred Shares Series 18.! p$ |' s: w2 ]- H5 ~
Voting Rights: Subject to the provisions of the Bank Act, the holders of Preferred Shares
9 V) I' y0 T+ A4 s8 kSeries 19 will not be entitled as such to receive notice of, attend, or vote at,8 N% _7 S7 v* u* Z
any meeting of the shareholders of the Bank unless and until the first time at
8 g" s3 L, B* p' K% H1 d3 r5 ?8 wwhich the Board of Directors has not declared the whole dividend on the
2 t" k3 y5 e% \, C, mPreferred Shares Series 19 in any quarter. In that event, subject as+ \" s8 H3 O9 h& k! e, i+ ~
hereinafter provided, the holders of Preferred Shares Series 19 will be: M& R6 |8 L9 U# v' R. ^
entitled to receive notice of, and to attend, meetings of shareholders at which: ?, ?9 ]( S2 ]
directors of the Bank are to be elected and will be entitled to one vote for
$ J' b6 h4 L8 x7 y. I5 peach Preferred Share Series 19 held. The voting rights of the holders of the5 K/ x- @/ d) _
Preferred Shares Series 19 will forthwith cease upon payment by the Bank of
$ r4 a1 d+ _4 q* N3 cthe first dividend on the Preferred Shares Series 19 to which the holders are8 Y$ y9 u1 C/ k4 M( h( t6 i+ s
entitled thereunder subsequent to the time such voting rights first arose until
" V/ ]- {; c5 q) c+ t0 ?/ r v( Ysuch time as the Bank may again fail to declare the whole dividend on the! i2 }, W0 X2 y4 p+ S
Preferred Shares Series 19 in respect of any quarter, in which event such
: `" }7 e# I. p, A) Pvoting rights will become effective again and so on from time to time.
4 X6 I1 R( |2 X. |/ J3 eS-6
* R: _6 d! N& C$ b/ yPriority: The preferred shares of each series of the Bank will rank on a parity with
; v0 e7 U1 k3 q: Z6 `- L' O, l' cevery other series and are entitled to preference over the common shares of
* ]9 b9 q/ ]2 gthe Bank and over any other shares of the Bank ranking junior to the! j" `, k S9 r6 m# w+ q; u
preferred shares with respect to the payment of dividends and upon any
( h! P H9 |) M( b' fdistribution of assets in the event of the liquidation, dissolution or
9 F) M F5 x' b+ @) Y. \2 j5 `: fwinding-up of the Bank.
' M$ ~7 H; D* D/ y7 T$ ITax on Preferred Share The Bank will elect, in the manner and within the time provided under+ A- v/ E8 |* P" ]) v# b9 W
Dividends: Part VI.1 of the Act to pay tax at a rate such that holders of Preferred Shares
2 p1 U- T: l8 g" f# R! p& i* NSeries 18 and Preferred Shares Series 19 will not be required to pay tax on
$ J4 ]: p, Z! b h, R0 n/ ]7 vdividends received on such shares under Part IV.1 of such Act. |
|