The dividend rate on the Series B Preferred Stock for the initial quarterly dividend period
ending September 30, 2011 and each of the next nine quarterly dividend periods
the Series B Preferred Stock is outstanding is determined each quarter based on the increase in the Bank's Qualified Small Business Lending.
00% for the Series B Preferred Shares, effective for the eight dividend periods
after March 26, 2013.
45 per share with respect to the first three annual dividend periods
, and at the greater of $.
00% for the dividend periods
ending on or prior to March 26, 2012 and thereafter will be reset by the Fund's Board of Trustees and publicly announced in a notice at least 60 days prior to March 26, 2012 for the four dividend periods
ending March 26, 2013, at least 60 days prior to March 26, 2013 for the eight dividend periods
ending March 26, 2015, and at least 60 days prior to March 26, 2015 for all remaining dividend periods
prior to the mandatory redemption date of March 26, 2018.
Subsequent dividend periods
may vary from seven days to five years.
Under the terms of the redemption, all six million shares will be redeemed at a price equal to the greater of (i) $25 per share or (ii) the sum of the present values of $25 per share and all undeclared dividends for the dividend periods
from the redemption date to and including the dividend payment date on September 15, 2010, discounted to the redemption date on a quarterly basis (assuming a 360-day year consisting of twelve 30-day months) at the treasury rate (as calculated on September 8, 2006), plus 139.
The 1,200 shares of Market Auction Preferred Shares, known as MAPS, are grouped into four series (Series G, H, I, and J) of $75 million each, with initial dividend periods
ranging from seven to ten weeks.
10% per annum; for subsequent dividend periods
, the dividend rate on the shares of APS generally will be based on a rate set at an auction.
The ARPS will be preferred shares of the Trust that entitle their holders to receive cash dividends at a rate that may vary for successive dividend periods
Each preferred share of a term trust will be exchanged for one preferred share of the respective perpetual trust and will have substantially similar terms, including the same dividend periods
and liquidation preferences.
Holders of shares purchased pursuant to the offer will not be entitled to any dividends in respect of any later dividend periods
Thereafter, the dividend rate for each subsequent dividend period
will be reset according to bids, hold orders and sell orders placed by existing and potential holders in an auction.