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Preferred Shares

The main characteristics of Laurentian Bank preferred shares.

Preferred shares series 13

Issued on April 3, 2014, the Preferred Shares Series 13 will not be redeemable prior to June 15, 2019. Subject to the provisions described in the prospectus, the Bank may redeem, at its option, without consent of the holder, on June 15, 2019 and on June 15 every five years thereafter, all or any part of the then outstanding Preferred Shares Series 13 by the payment of an amount in cash for each such share so redeemed of $25.00 together with all declared and unpaid dividends to the date fixed for redemption. Holders of Preferred Shares Series 13 will, subject to the automatic conversion provisions and the right of the Bank to redeem those shares, have the right, at their option, to convert, on June 15, 2019 and on June 15 every five years thereafter any or all of their Preferred Shares Series 13 into an equal number of Non-Cumulative Class A Preferred Shares Series 14 of the Bank. The terms of the Preferred Shares Series 13 and the Preferred Shares Series 14 provide that such shares will automatically and immediately be converted, on a full and permanent basis, into a specified number of common shares of the Bank upon the occurrence of certain trigger events, as such term is defined in the capital adequacy requirements adopted by the Office of the Superintendent of Financial Institutions Canada.
 

Preferred shares series 15

Issued on March 17, 2016, the Bank’s Non-Cumulative Class A Preferred Shares, Series 15 (Non-Viability Contingent Capital (NVCC)) (the Preferred Shares Series 15) will not be redeemable prior to June 15, 2021. Subject to the provisions described in the prospectus supplement dated March 10, 2016 to the Bank’s short form base shelf prospectus dated November 10, 2014, the Bank may redeem, at its option, without consent of the holder, on June 15, 2021 and on June 15 every five years thereafter, all or any part of the then outstanding Preferred Shares Series 15 by the payment of an amount in cash for each such share so redeemed of $25.00 together with all declared and unpaid dividends to, but excluding, the date fixed for redemption. Holders of Preferred Shares Series 15 will, subject to the automatic conversion provisions described below and the right of the Bank to redeem those shares, have the right, at their option, to convert, on June 15, 2021 and on June 15 every five years thereafter any or all of their Preferred Shares Series 15 into an equal number of the Bank’s Non-Cumulative Class A Preferred Shares Series 16 (Non-Viability Contingent Capital (NVCC)) (the Preferred Shares Series 16). The terms of the Preferred Shares Series 15 and the Preferred Shares Series 16 provide that such shares will automatically and immediately be converted, on a full and permanent basis, into a specified number of common shares of the Bank upon the occurrence of certain trigger events, as such term is defined in the capital adequacy requirements adopted by the Office of the Superintendent of Financial Institutions Canada (OSFI) and as such term may be amended or superseded by OSFI from time to time.

decorative Stock summary for Laurentian Bank This link provides access to most public securities documents and information filed by issuers with the thirteen provincial and territorial securities regulatory authorities (
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