Canadian Originated Preferred Securities

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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