BPS.PR.B – Series 3 Prospectus – Brookfield Office Properties Inc Preferred Shares

The following is a set of excerpts from the prospectus document for the Series 3 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 BPS.PR.B – Series 3 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

Class A Senior Preferred Shares, Series 3 The third series of Class A Senior Preferred Shares of the Company shall consist of 1,000,000 Class A Senior Preferred Shares which shall be designated as Class A Senior Preferred Shares, Series 3 (hereinafter referred to as the “Series 3 Senior Preferred Shares”) and which, in addition to the rights, privileges, restrictions and conditions attaching to the Class A Senior Preferred Shares as a class, shall have attached thereto the following rights, privileges, restrictions and conditions:
(a) “Dividend Payment Date” in respect of the dividends payable on the Series 3 Senior Preferred Shares means the last day of each of March, June, September and December in each year.
(b) “Dividend Period” means the period from and including the date of initial issue of the Series 3 Senior Preferred Shares up to but excluding September 30, 2014 and, thereafter, the period from and including a Dividend Payment Date up to but excluding the next succeeding Dividend Payment Date.

Excerpt: Yield Terms

Holders of Series 3 Senior Preferred Shares (the “Series 3 Shareholders”) shall be entitled to receive, and the Company shall pay thereon, if, as and when declared by the board of directors of the Company (the “Board”), out of moneys of the Company properly applicable to the payment of dividends, fixed cumulative preferential cash dividends (the “Series 3 Dividends”) payable quarterly, with respect to each Dividend Period, on the Dividend Payment Date immediately following each such Dividend Period at the rate of C$1.25 per Series 3 Senior Preferred Share per annum