Redwood Asset Management Announces First Ever ETF Exchange Offer for the Redwood Canadian Preferred Share Fund

Redwood Asset Management Inc. (“Redwood”) is pleased to offer an exchange offering for the ETF units of the Redwood Canadian Preferred Share Fund (the “ETF”, or “the Fund”). Investors have until September 15, 2017 to tender their preferred shares and other accepted securities in exchange for units of the Fund. The offering, which closes on September 22, 2017, is the first of its kind in Canada, and is another example in Redwood’s focus on delivering innovative solutions to Canadian investors. The Fund trades under the ticker symbol RPS on the NEO Exchange.

“We are excited to offer this opportunity to Canadian investors. With the recent appreciation in preferred shares, we believe that exchanging select preferred shares and ETFs for units in our actively managed ETF provides investors with the ability to continue to participate in the space while protecting recent gains,” said Mr. Shippen. “This ETF exchange offering will allow investors who have participated in the preferred share market to exchange their individual securities for a diversified, actively managed basket of preferred shares that we believe hold superior risk/reward opportunities.”

The number of ETF Units that may be purchased in-kind by tendering eligible securities of Exchange Eligible Issuers will be determined by dividing the weighted average trading price of the security during the period of five consecutive trading days ending on September 15, 2017 (the “Pricing Period”), as adjusted to reflect any distributions that will not be received by the Fund declared by any Exchange Eligible Issuer, by the net asset value of the Fund on the last day of the Pricing Period. The Exchange Ratio for any securities that do not trade in Canadian dollars will be determined by converting the weighted average trading price on the applicable exchange of the securities into Canadian dollars based on the 4:00 p.m. rate of exchange on the last day of the Pricing Period. Holders of securities of Exchange Eligible Issuers (“Exchange Eligible Holders”) who deposited securities pursuant to the Exchange Option will continue to be holders of record up to but not including the date of the closing of this Offering, and will be entitled to receive distributions in respect of Exchange Eligible Issuers securities up to but not including this date. Each Exchange Ratio will be rounded down to five decimal places. The Fund will not issue fractional Units pursuant to the Exchange Option. Entitlement to fractional Units will be determined on the basis of the aggregate number of securities of each Exchange Eligible Issuer acquired pursuant to the Exchange Option and the Fund will issue to CDS cash in lieu thereof. Allocations by CDS of cash in lieu of fractional Units to participants in CDS will be at the discretion of CDS and the allocation of cash in lieu of fractional Units to purchasers who have authorized the deposit of securities of Exchange Eligible Issuers through CDS will be at the discretion of the CDS participants.

The investment objective of the Fund is principally to provide a consistent stream of income with potential for capital appreciation by investing in Canadian income producing securities and Canadian equities.

The table below sets out the Exchange Eligible Issuers and the securities which may be accepted by the Fund pursuant to the Exchange Option, including the name of the Exchange Eligible Issuer, the ticker symbol for each eligible security, its CUSIP number, and its ISIN.

 

 

Name Ticker Symbol CUSIP ISIN
AltaGas Ltd ALA K 021361837 CA0213618378
AltaGas Ltd ALA E 021361803 CA0213618030
AltaGas Ltd ALA G 021361886 CA0213618865
AltaGas Ltd ALA U 021361506 CA0213615069
AltaGas Ltd ALA A 021361209 CA0213612090
AltaGas Ltd ALA I 021361852 CA0213618527
AltaGas Ltd ALA B 021361308 CA0213613080
Bank of Montreal BMO C 06368A209 CA06368A2092
Bank of Montreal BMO D 06367X887 CA06367X8879
Bank of Montreal BMO B 06367X705 CA06367X7053
Bank of Montreal BMO T 063679609 CA0636796090
Bank of Montreal BMO S 063679401 CA0636794012
Bank of Montreal BMO W 063679880 CA0636798807
Bank of Montreal BMO Q 063679203 CA0636792032
Bank of Montreal BMO M 063671788 CA0636717880
Bank of Montreal BMO Y 06367X200 CA06367X2005
Bank of Montreal BMO R 063671770 CA0636717708
Bank of Montreal BMO Z 06367X408 CA06367X4084
Bank of Nova Scotia/The BNS H 064151111 CA0641511112
Bank of Nova Scotia/The BNS G 064151202 CA0641512029
Bank of Nova Scotia/The BNS R 064149693 CA0641496934
Bank of Nova Scotia/The BNS E 064149552 CA0641495522
Bank of Nova Scotia/The BNS Q 064149727 CA0641497270
Bank of Nova Scotia/The BNS Z 064149610 CA0641496108
Bank of Nova Scotia/The BNS P 064149743 CA0641497437
Bank of Nova Scotia/The BNS Y 064149636 CA0641496363
Bank of Nova Scotia/The BNS B 064149719 CA0641497197
Bank of Nova Scotia/The BNS D 064149628 CA0641496280
Bank of Nova Scotia/The BNS A 064149735 CA0641497353
Bank of Nova Scotia/The BNS C 064149685 CA0641496850
BCE Inc BCE K 05534B679 CA05534B6796
BCE Inc BCE A 05534B794 CA05534B7943
BCE Inc BCE L 05534B661 CA05534B6614
BCE Inc BCE M 05534B646 CA05534B6465
BCE Inc BCE N 05534B638 CA05534B6382
BCE Inc BCE O 05534B620 CA05534B6200
BCE Inc BCE R 05534B703 CA05534B7034
BCE Inc BCE I 05534B711 CA05534B7117
BCE Inc BCE Q 05534B596 CA05534B5962
BCE Inc BCE F 05534B745 CA05534B7455
BCE Inc BCE C 05534B786 CA05534B7869
BCE Inc BCE Y 05534B851 CA05534B8511
BCE Inc BCE G 05534B737 CA05534B7372
BCE Inc BCE T 05534B810 CA05534B8107
BCE Inc BCE D 05534B687 CA05534B6879
BCE Inc BCE B 05534B695 CA05534B6952
BCE Inc BCE H 05534B729 CA05534B7299
BCE Inc BCE E 05534B752 CA05534B7521
BCE Inc BCE J 05534B653 CA05534B6531
BCE Inc BCE S 05534B869 CA05534B8693
Bombardier Inc BBD B 097751507 CA0977515075
Bombardier Inc BBD D 097751606 CA0977516065
Bombardier Inc BBD C 097751705 CA0977517055
Brookfield Asset Management Inc BAM X 112585690 CA1125856908
Brookfield Asset Management Inc BAM FI 112585450 CA1125854507
Brookfield Asset Management Inc BAM T 112585724 CA1125857245
Brookfield Asset Management Inc BAM FA 112585641 CA1125856411
Brookfield Asset Management Inc BAM R 112585740 CA1125857401
Brookfield Asset Management Inc BAM FB 112585625 CA1125856254
Brookfield Asset Management Inc BAM FF 112585534 CA1125855348
Brookfield Asset Management Inc BAM FG 112585518 CA1125855181
Brookfield Asset Management Inc BAM Z 112585666 CA1125856668
Brookfield Asset Management Inc BAM FH 112585484 CA1125854846
Brookfield Asset Management Inc BAM FE 112585559 CA1125855595
Brookfield Asset Management Inc BAM G 112585609 CA1125856098
Brookfield Asset Management Inc BAM K 112585872 CA1125858722
Brookfield Asset Management Inc BAM B 112585203 CA1125852030
Brookfield Asset Management Inc BAM C 112585401 CA1125854010
Brookfield Asset Management Inc BAM FC 112585591 CA1125855918
Brookfield Asset Management Inc BAM M 112585831 CA1125858318
Brookfield Asset Management Inc BAM FD 112585567 CA1125855678
Brookfield Asset Management Inc BAM N 112585823 CA1125858235
Brookfield Asset Management Inc BAM E 112585500 CA1125855009
Brookfield Office Properties Inc BPO G 112900626 CA1129006260
Brookfield Office Properties Inc BPO E 112900642 CA1129006427
Brookfield Office Properties Inc BPO P 112900816 CA1129008167
Brookfield Office Properties Inc BPO T 112900766 CA1129007664
Brookfield Office Properties Inc BPO N 112900832 CA1129008324
Brookfield Office Properties Inc BPO A 112900683 CA1129006831
Brookfield Office Properties Inc BPO C 112900667 CA1129006674
Brookfield Office Properties Inc BPO R 112900782 CA1129007821
Brookfield Office Properties Inc BPO Y 112900717 CA1129007177
Brookfield Renewable Power Preferred Equity Inc BRF A 11283Q206 CA11283Q2062
Brookfield Renewable Power Preferred Equity Inc BRF C 11283Q404 CA11283Q4043
Brookfield Renewable Power Preferred Equity Inc BRF B 11283Q305 CA11283Q3052
Canadian Imperial Bank of Commerce CM R 136070208 CA1360702080
Canadian Imperial Bank of Commerce CM O 136069440 CA1360694402
Canadian Imperial Bank of Commerce CM P 136069424 CA1360694246
Canadian Utilities Ltd CU C 136717691 CA1367176916
Canadian Utilities Ltd CU I 136717626 CA1367176262
Canadian Utilities Ltd CU D 136717675 CA1367176759
Canadian Utilities Ltd CU G 136717642 CA1367176429
Canadian Utilities Ltd CU F 136717659 CA1367176593
Canadian Utilities Ltd CU H 136717634 CA1367176346
Capital Power Corp CPX G 14042M888 CA14042M8887
Capital Power Corp CPX E 14042M706 CA14042M7061
Capital Power Corp CPX C 14042M508 CA14042M5081
Capital Power Corp CPX A 14042M300 CA14042M3003
ECN Capital Corp ECN C 26829L602 CA26829L6026
ECN Capital Corp ECN A 26829L404 CA26829L4047
Element Fleet Management Corp EFN I 286181664 CA2861816643
Element Fleet Management Corp EFN E 286181813 CA2861818136
Element Fleet Management Corp EFN G 286181789 CA2861817898
Element Fleet Management Corp EFN A 286181870 CA2861818706
Element Fleet Management Corp EFN C 286181839 CA2861818391
Emera Inc EMA C 290876507 CA2908765076
Emera Inc EMA F 290876804 CA2908768047
Emera Inc EMA A 290876309 CA2908763097
Empire Life Insurance Co/The EML A 291839207 CA2918392077
Enbridge Inc ENB B 29250N709 CA29250N7099
Enbridge Inc ENB N 29250N774 CA29250N7743
Enbridge Inc ENB Y 29250N683 CA29250N6836
Enbridge Inc ENB F 29250N865 CA29250N8659
Enbridge Inc ENB P 29250N758 CA29250N7586
Enbridge Inc ENB H 29250N840 CA29250N8402
Enbridge Inc ENB T 29250N733 CA29250N7339
Enbridge Inc ENB D 29250N881 CA29250N8816
Enbridge Inc ENB J 29250N642 CA29250N6422
Enbridge Inc ENB FC 29250N592 CA29250N5929
Enbridge Inc ENB FU 29250N790 CA29250N7909
Enbridge Inc ENB FI 29250N535 CA29250N5358
Enbridge Inc ENB V 29250N717 CA29250N7172
Enbridge Inc ENB FA 29250N626 CA29250N6265
Enbridge Inc ENB FG 29250N550 CA29250N5507
Enbridge Inc ENB FE 29250N576 CA29250N5762
Enbridge Inc ENB U 29250N824 CA29250N8246
Enbridge Inc ENB FV 29250N667 CA29250N6679
Enbridge Inc ENB A 29250N204 CA29250N2041
Fairfax Financial Holdings Ltd FFH K 303901821 CA3039018211
Fairfax Financial Holdings Ltd FFH I 303901847 CA3039018476
Fairfax Financial Holdings Ltd FFH M 303901797 CA3039017973
Fairfax Financial Holdings Ltd FFH G 303901862 CA3039018625
Fairfax Financial Holdings Ltd FFH C 303901508 CA3039015084
Fairfax Financial Holdings Ltd FFH E 303901888 CA3039018880
Fairfax Financial Holdings Ltd FFH F 303901870 CA3039018708
Fairfax Financial Holdings Ltd FFH H 303901854 CA3039018542
Fairfax Financial Holdings Ltd FFH D 303901607 CA3039016074
Fortis Inc/Canada FTS M 349553768 CA3495537688
Fortis Inc/Canada FTS K 349553784 CA3495537845
Fortis Inc/Canada FTS H 349553826 CA3495538264
Fortis Inc/Canada FTS G 349553834 CA3495538348
Fortis Inc/Canada FTS J 349553792 CA3495537928
Fortis Inc/Canada FTS F 349553867 CA3495538678
George Weston Ltd WN C 961148863 CA9611488631
George Weston Ltd WN A 961148889 CA9611488896
George Weston Ltd WN E 961148848 CA9611488482
George Weston Ltd WN D 961148855 CA9611488557
Great-West Lifeco Inc GWO N 39138C791 CA39138C7917
Great-West Lifeco Inc GWO T 39138C726 CA39138C7263
Great-West Lifeco Inc GWO H 39138C874 CA39138C8741
Great-West Lifeco Inc GWO I 39138C866 CA39138C8667
Great-West Lifeco Inc GWO G 39138C882 CA39138C8824
Great-West Lifeco Inc GWO Q 39138C767 CA39138C7677
Great-West Lifeco Inc GWO R 39138C759 CA39138C7594
Great-West Lifeco Inc GWO P 39138C775 CA39138C7750
Great-West Lifeco Inc GWO S 39138C734 CA39138C7347
Great-West Lifeco Inc GWO F 39138C809 CA39138C8097
Great-West Lifeco Inc GWO M 39138C817 CA39138C8170
Great-West Lifeco Inc GWO L 39138C825 CA39138C8253
Husky Energy Inc HSE C 448055400 CA4480554001
Husky Energy Inc HSE G 448055806 CA4480558069
Husky Energy Inc HSE A 448055202 CA4480552021
Husky Energy Inc HSE E 448055608 CA4480556089
Husky Energy Inc HSE B 448055301 CA4480553011
Industrial Alliance Insurance & Financial Services Inc IAG G 455871806 CA4558718066
Industrial Alliance Insurance & Financial Services Inc IAG A 455871301 CA4558713018
Intact Financial Corp IFC A 45823T304 CA45823T3047
Intact Financial Corp IFC C 45823T601 CA45823T6016
Intact Financial Corp IFC E 45823T809 CA45823T8095
Kinder Morgan Corp KML A 494549306 CA4945493068
Manulife Financial Corp MFC R 56501R635 CA56501R6352
Manulife Financial Corp MFC I 56501R783 CA56501R7830
Manulife Financial Corp MFC H 56501R817 CA56501R8176
Manulife Financial Corp MFC O 56501R650 CA56501R6501
Manulife Financial Corp MFC M 56501R692 CA56501R6923
Manulife Financial Corp MFC F 56501R858 CA56501R8580
Manulife Financial Corp MFC G 56501R833 CA56501R8333
Manulife Financial Corp MFC N 56501R676 CA56501R6766
Manulife Financial Corp MFC K 56501R742 CA56501R7426
Manulife Financial Corp MFC L 56501R726 CA56501R7269
Manulife Financial Corp MFC J 56501R767 CA56501R7673
Manulife Financial Corp MFC P 56501R841 CA56501R8416
Manulife Financial Corp MFC B 56501R403 CA56501R4035
Manulife Financial Corp MFC C 56501R502 CA56501R5024
National Bank of Canada NA C 633067228 CA6330672289
National Bank of Canada NA X 633067269 CA6330672693
National Bank of Canada NA W 633067285 CA6330672859
National Bank of Canada NA S 633067319 CA6330673196
National Bank of Canada NA A 633067244 CA6330672446
National Bank of Canada NA Q 633067335 CA6330673352
Northland Power Inc NPI C 666511605 CA6665116050
Northland Power Inc NPI A 666511308 CA6665113081
Northland Power Inc NPI B 666511506 CA6665115060
Partners Value Split Corp PVS B 70214J301 CA70214J3010
Partners Value Split Corp PVS D 70214J608 CA70214J6088
Partners Value Split Corp PVS E 70214J707 CA70214J7078
Pembina Pipeline Corp PPL M 706327855 CA7063278559
Pembina Pipeline Corp PPL E 706327111 CA7063271117
Pembina Pipeline Corp PPL A 706327202 CA7063272024
Pembina Pipeline Corp PPL K 706327871 CA7063278716
Pembina Pipeline Corp PPL I 706327806 CA7063278062
Pembina Pipeline Corp PPL G 706327608 CA7063276082
Pembina Pipeline Corp PPL C 706327400 CA7063274004
Power Corp of Canada POW D 739239861 CA7392398615
Power Corp of Canada POW B 739239804 CA7392398045
Power Corp of Canada POW C 739239879 CA7392398797
Power Corp of Canada POW A 739239887 CA7392398870
Power Corp of Canada POW G 739239853 CA7392398532
Power Financial Corp PWF P 73927C779 CA73927C7796
Power Financial Corp PWF T 73927C738 CA73927C7382
Power Financial Corp PWF A 73927C209 CA73927C2094
Power Financial Corp PWF Z 73927C712 CA73927C7127
Power Financial Corp PWF K 73927C837 CA73927C8372
Power Financial Corp PWF S 73927C746 CA73927C7465
Power Financial Corp PWF I 73927C845 CA73927C8455
Power Financial Corp PWF L 73927C829 CA73927C8299
Power Financial Corp PWF R 73927C753 CA73927C7531
Power Financial Corp PWF O 73927C787 CA73927C7879
Power Financial Corp PWF F 73927C886 CA73927C8869
Power Financial Corp PWF E 73927C803 CA73927C8034
Power Financial Corp PWF G 73927C878 CA73927C8786
Power Financial Corp PWF Q 73927C761 CA73927C7614
Royal Bank of Canada RY R 78013N274 CA78013N2749
Royal Bank of Canada RY Z 78012G411 CA78012G4117
Royal Bank of Canada RY Q 78013L211 CA78013L2113
Royal Bank of Canada RY H 78012H567 CA78012H5675
Royal Bank of Canada RY J 78012Q112 CA78012Q1129
Royal Bank of Canada RY I 78010A416 CA78010A4164
Royal Bank of Canada RY M 78012T470 CA78012T4708
Royal Bank of Canada RY L 78010A333 CA78010A3331
Royal Bank of Canada RY C 780102604 CA7801026047
Royal Bank of Canada RY G 780102554 CA7801025544
Royal Bank of Canada RY F 780102653 CA7801026534
Royal Bank of Canada RY A 780085445 CA7800854456
Royal Bank of Canada RY E 780102760 CA7801027607
Royal Bank of Canada RY B 780085247 CA7800852476
Royal Bank of Canada RY D 780102844 CA7801028449
Royal Bank of Canada RY W 780085502 CA7800855024
Royal Bank of Canada RY O 78013K601 CA78013K6016
Royal Bank of Canada RY S 78013G402 CA78013G4025
Royal Bank of Canada RY N 78013J455 CA78013J4550
Sun Life Financial Inc SLF I 866796832 CA8667968322
Sun Life Financial Inc SLF H 866796865 CA8667968652
Sun Life Financial Inc SLF G 866796881 CA8667968819
Sun Life Financial Inc SLF J 866796873 CA8667968736
Sun Life Financial Inc SLF A 866796204 CA8667962044
Sun Life Financial Inc SLF E 866796600 CA8667966003
Sun Life Financial Inc SLF D 866796501 CA8667965013
Sun Life Financial Inc SLF B 866796303 CA8667963034
Sun Life Financial Inc SLF C 866796402 CA8667964024
Toronto-Dominion Bank/The TD FI 891160640 CA8911606405
Toronto-Dominion Bank/The TD FH 891160665 CA8911606652
Toronto-Dominion Bank/The TD FC 891145658 CA8911456587
Toronto-Dominion Bank/The TD FA 891145690 CA8911456900
Toronto-Dominion Bank/The TD FG 891145575 CA8911455753
Toronto-Dominion Bank/The TD FB 891145674 CA8911456744
Toronto-Dominion Bank/The TD FE 891145617 CA8911456173
Toronto-Dominion Bank/The TD FD 891145633 CA8911456330
Toronto-Dominion Bank/The TD S 891145609 CA8911456090
Toronto-Dominion Bank/The TD Y 891145708 CA8911457080
Toronto-Dominion Bank/The TD T 891145724 CA8911457247
Toronto-Dominion Bank/The TD Z 891145716 CA8911457163
Toronto-Dominion Bank/The TD FF 891145583 CA8911455837
TransAlta Corp TA D 89346D768 CA89346D7687
TransAlta Corp TA H 89346D727 CA89346D7273
TransAlta Corp TA F 89346D735 CA89346D7356
TransAlta Corp TA J 89346D677 CA89346D6770
TransCanada Corp TRP K 89353D792 CA89353D7927
TransCanada Corp TRP D 89353D883 CA89353D8834
TransCanada Corp TRP J 89353D826 CA89353D8263
TransCanada Corp TRP E 89353D867 CA89353D8677
TransCanada Corp TRP A 89353D404 CA89353D4049
TransCanada Corp TRP B 89353D503 CA89353D5038
TransCanada Corp TRP G 89353D842 CA89353D8420
TransCanada Corp TRP C 89353D701 CA89353D7018
TransCanada Corp TRP F 89353D305 CA89353D3058
TransCanada Corp TRP H 89353D602 CA89353D6028
Valener Inc VNR A 91912H207 CA91912H2072
Westcoast Energy Inc W M 95751D128 CA95751D1289
Westcoast Energy Inc W K 95751D847 CA95751D8474
Westcoast Energy Inc W J 95751D862 CA95751D8623
Horizons Active Floating Rate Preferred Share ETF HFP CN 44052A201 CA44052A2011
PowerShares Canadian Preferred Index ETF PPS CN 73937J103 CA73937J1030
RBC Canadian Preferred Share ETF RPF CN 74934A103 CA74934A1030
Horizons Active Preferred Share ETF HPR CN 44051D107 CA44051D1078
BMO Laddered Preferred Share Index ETF ZPR CN 05581T102 CA05581T1021
iShares S&P/TSX Canadian Preferred Share Index ETF CPD CN 46431G205 CA46431G2053
iShares S&P/TSX North American Preferred Stock Index ETF XPF CN 46431J100 CA46431J1003
Lysander-Slater Preferred Share ActivETF PR CN 552374100 CA5523741000
First Asset Preferred Share ETF FPR CN 31866C101 CA31866C1014
Dynamic iShares Active Preferred Shares ETF DXP CN 26800U100 CA26800U1003
Desjardins Canadian Preferred Share Index ETF DCP CN 25058Y103 CA25058Y1034
iShares US Preferred Stock ETF PFF 464288687 US4642886877

 

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