BPO.PR.S – Series S Prospectus – Brookfield Office Properties Inc Preferred Shares

The following is a set of excerpts from the prospectus document for the Series S preferreds. The excerpts, highlight the most relevant information, an investor should know when analyzing this preferred. A link to the prospectus is provided lower in this page. The original document for BPO.PR.S – Series S Prospectus – Brookfield Office Properties Inc Preferred Shares was used for the excerpts and the important information was highlighted for quick access.

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Excerpt: Size and initial yield

Number and Designation of and Rights, Privileges, Restrictions and Conditions Attaching to the Class AAA Preference Shares, Series S 7. CLASS AAA PREFERENCE SHARES, SERIES S Brookfield Office Properties Inc. (the “Corporation”) The eighteenth series of Class AAA Preference Shares of the Corporation shall consist of 10,000,000 Class AAA Preference Shares which shall be designated as Class AAA Preference Shares, Series S (hereinafter referred to as the “Series S Shares”) and which, in addition to the rights, privileges, restrictions and conditions attaching to the Class AAA Preference Shares as a class, shall have attached thereto the following rights, privileges, restrictions and conditions.

Excerpt: Reset Date and Yield Terms

During each Quarterly Floating Rate Period, Series S Dividends will be in an amount per share determined by multiplying the Floating Quarterly Dividend Rate applicable to such Quarterly Floating Rate Period by $25.00, and shall be payable quarterly on each Dividend Payment Date during such Quarterly Floating Rate Period.
The Corporation will calculate on each Floating Rate Calculation Date the Floating Quarterly Dividend Rate for such Quarterly Floating Rate Period and will, on the Floating Rate Calculation Date, give written notice thereof to the Holders. Each such determination by the Corporation of the Floating Quarterly Dividend Rate will, in the absence of manifest error, be final and binding upon the Corporation and upon all Holders.

“Annual Fixed Dividend Rate” means, for any Subsequent Fixed Rate Period, the rate (expressed as a percentage rate rounded down to the nearest one hundred-thousandth of one percent (with 0.000005% being rounded up)) equal to the sum of the Government of Canada Yield on the applicable Fixed Rate Calculation Date plus 3.48%.

Excerpt: Conversion Terms

Subject to applicable law and the terms and provisions hereof, Holders will have the right, at their option, on each Series S Conversion Date, to convert all, or any part of, the then outstanding Series S Shares registered in the name of the Holder into Class AAA Preference Shares, Series R (“Series R Shares”) on the basis of one (1) Series R Share for each Series S Share.