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Bank of Montreal Series 25 Non-Cumulative 5-Year Rate Reset Class B Preferred Shares (BMO.PR.Q)
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Bank of Nova Scotia (The) Non-cumulative 5-Year Rate Reset Preferred Shares Series 30 (BNS.PR.Y)
Q: Hello
Very few bank rate reset preferred shares indicate that there is a "NO NVCC" clause. An example are the above noted two preferred shares.
Can you please tell us what the NO NVCC clause means and how these bank rate reset preferred shares differ from ordinary bank rate reset preferred shares?
Thank you
Very few bank rate reset preferred shares indicate that there is a "NO NVCC" clause. An example are the above noted two preferred shares.
Can you please tell us what the NO NVCC clause means and how these bank rate reset preferred shares differ from ordinary bank rate reset preferred shares?
Thank you
