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

The following is a  set of excerpts from the prospectus document for the Series W 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.W – Series W 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 W 7. CLASS AAA PREFERENCE SHARES, SERIES W Brookfield Office Properties Inc. (the “Corporation”) The twenty-third series of Class AAA Preference Shares shall consist of 3,816,527 Class AAA Preference Shares which shall be designated as Class AAA Preference Shares, Series W which replace the “$25 Floating Rate Cumulative Redeemable Preferred Shares Series J” of BPO Properties Ltd. (the Class AAA Preference Shares, Series W shall hereinafter be referred to as the “Series J Preferred Shares”) and, 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:

dividends payable quarterly (the “Quarterly Dividends”) on the 14th day of each of the months of February, May, August and November in each year (the “Dividend Payment Dates”) commencing with May 14, 1986 in respect of the period from and including the immediately preceding Dividend Payment Date to but excluding the next succeeding Dividend Payment Date, in an amount per Series J Preferred Share equal to the amount obtained when the Quarterly Dividend Rate is multiplied by $25.00.

“Quarterly Dividend Rate” means (i) 2.125%, in the case of dividends payable on or before November 14, 1990; and (ii) one-quarter of seventy percent (70%) of the Average Prime Rate in effect on each day during the three month period ending on the 13th day of the calendar month which is three months prior to the month during which the Dividend Payment Date for which the determination is being made falls, in the case of dividends payable after November 14, 1990.

BPO.PR.W – Series W Prospectus – Brookfield Office Properties Inc Preferred Shares Original Document

I have presented the most important information regarding the Series W preferreds. If you need to go through the original and complete document for BPO.PR.W – Series W Prospectus – Brookfield Office Properties Inc Preferred Shares is available here.