Canadian Originated Preferred Securities

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Canadian Originated Preferred Securities

A security that combines aspects of preferred stock and long-term debt issues. It is structured as a bond and pays interest instead of dividends, but provides higher yields than Canadian bonds. COPrS are subordinated to other debt but are ahead of preferred stock. The interest may be stopped for up to five years, but only if dividends for common stock have been stopped first. They are taxable investments.
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Securities and Exchange Commission through the multi-jurisdiction system for the issuance of a Series A Canadian Originated Preferred Security and a Series B Capital Security (the Securities).
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