TORONTO, Sept.19, 2016
/PRNewswire/ - Sun Life Financial Inc. (TSX: SLF) (NYSE: SLF) ("Sun
Life Financial") today announced that 1,080,072 of its 8,000,000
Class A Non-Cumulative Rate Reset Preferred Shares Series 10R (the
"Series 10R Shares") have been elected for conversion on
September 30, 2016, on a one-for-one
basis, into Class A Non-Cumulative Floating Rate Preferred Shares
Series 11QR (the "Series 11QR Shares"). Consequently, on
September 30, 2016, Sun Life
Financial will have 6,919,928 Series 10R Shares and 1,080,072
Series 11QR Shares issued and outstanding. The Series 10R Shares
and Series 11QR Shares will be listed on the Toronto Stock Exchange
under the symbols SLF.PR.H and SL.PR.K, respectively.
Subject to regulatory approval, Sun Life Financial: (i) may
redeem the Series 10R Shares and the Series 11QR Shares in whole or
in part on September 30, 2021 and on
the 30th of September every five years thereafter by the payment of
an amount for each share so redeemed of $25.00, together with all declared and unpaid
dividends to the date fixed for such redemption, and (ii) may
redeem the Series 11QR Shares in whole or in part on any other date
after September 30, 2016 by the
payment of an amount for each share so redeemed of $25.50, together with all declared and unpaid
dividends to the date fixed for such redemption.
The Series 10R Shares and the Series 11QR Shares have not been
and will not be registered under the United States Securities Act
of 1933, as amended, and subject to certain exceptions, may not be
offered, sold or delivered, directly or indirectly, in the United States of America for the account
or benefit of U.S. persons. This release does not constitute an
offer to sell or a solicitation to buy such securities in the
United Sates.
About Sun Life Financial
Sun Life Financial is a leading international financial services
organization providing a diverse range of protection and wealth
products and services to individuals and corporate customers. Sun
Life Financial has operations in a number of markets worldwide,
including Canada, the United States, the United Kingdom, Ireland, Hong
Kong, the Philippines,
Japan, Indonesia, India, China,
Australia, Singapore, Vietnam, Malaysia and Bermuda. As of June 30,
2016, the Sun Life Financial group of companies had total
assets under management of $865
billion. For more information please visit
www.sunlife.com.
Sun Life Financial Inc. trades on the Toronto (TSX), New
York (NYSE) and Philippine (PSE) stock exchanges under the
ticker symbol SLF.
Note to Editors: All figures in Canadian
dollars.
SOURCE Sun Life Financial Inc. - Financial News