OCBC Bk 5.1%NCPS 100   

5.1% interest

OCBC will be redeeming the preference shares. The last trading day and last cum-dividend day for the preference shares will be on 9 Jul 2013. Preference shareholders will be entitled to redemption proceeds of $100 per preference share and final preferential dividend of $0.54 per preference share ($100 x 5.1% x 39/365), subject to final confirmation by CDP. The redemption amt will be paid on 29 Jul 2013 by the bank to CDP, which will in turn distribute the redemption amount to the preference shareholders.

 

So why is it still trading above 100.54?

 

found this in SGX for your reference:

Oversea-Chinese Banking Corporation Limited (“OCBC Bank”) will be redeeming the Preference Shares, which are
presently listed on the Singapore Exchange Securities Trading Limited (“SGX-ST”), in accordance with Article 7B(4)(a)
of the Articles of Association of OCBC Bank (the “Articles”) on 29 July 2013. Holders of the Preference Shares will
receive the redemption amount (the “Redemption Amount”), which is equal to the liquidation preference of S$100
per Preference Share (the “Redemption Proceeds”), and any accrued but unpaid dividends (the “Final Preferential
Dividend”).
Key Dates
The Preference Shares will be quoted on a “cum-dividend” basis from 11 June 2013 to 9 July 2013.
The last trading day for the Preference Shares on the SGX-ST will be on 9 July 2013. The Preference Shares will cease
trading on the SGX-ST on 10 July 2013 at 9.00am, and will be delisted from the SGX-ST on 30 July 2013 at 9.00am.
The record date to determine entitlement to the Redemption Proceeds as well as the Final Preferential Dividend will
be on 12 July 2013 at 5.00pm.
Redemption Amount
Shareholders on the Register on 12 July 2013 will be entitled to:-
• Redemption Proceeds of SGD100 per Preference Share and
• Subject to final confirmation by The Central Depository (Pte) Limited (“CDP”), a Final Preferential Dividend of
SGD 0.54 per Preference Share (SGD100 x 5.1% x 39/365).
The Redemption Amount will be paid on 29 July 2013. In respect of the Preference Shares held in securities accounts
with the CDP, the Redemption Amount will be paid by the Bank to CDP which will in turn distribute the Redemption
Amount to holders of the Preference Shares.

 

Few days ago, just XD, today CD again, I go to SGX website it have the CD words appear there, but I can not find the details of it.   I guess may be this preference share going to be called back by OCBC bank and the details still not given.  And may be this is the last  CD to be given. Anyone has the answer for it?

 

Thank you very much. The articles on preference share is very informative.

Alligator      ( Date: 29-Sep-2009 11:20) Posted: This link might help your understanding between the two   http://www.moneytalk.sg/2009/01/case-study-of-ocbc-preference-shares.html AnthonyTan      ( Date: 29-Sep-2009 11:08) Posted: OCBC NCPS 100 pay interest of 5.1% annually OCC NCPS 100 oso pay interest of 5.1% annually. Both belong to OCBC Bank. Pl. advise any differences, tks

 

This link might help your understanding between the two

 

http://www.moneytalk.sg/2009/01/case-study-of-ocbc-preference-shares.html

AnthonyTan      ( Date: 29-Sep-2009 11:08) Posted: OCBC NCPS 100 pay interest of 5.1% annually OCC NCPS 100 oso pay interest of 5.1% annually. Both belong to OCBC Bank. Pl. advise any differences, tks

 

OCBC NCPS 100 pay interest of 5.1% annually

OCC NCPS 100 oso pay interest of 5.1% annually.

Both belong to OCBC Bank.

Pl. advise any differences, tks