Common Shares: VBNK
- The Common Shares of VersaBank are listed for trading on the TSX under the symbol VBNK and on the Nasdaq Global Select Market (the “Nasdaq”) under the symbol VBNK.
- See our Stock Performance on Big Charts Canada.
Notes Payable: $5,000,000
US Notes Payable: US$75,000,000
Bank’s Series 1 Preferred Shares: VBNK.PR.A
- Series 1 Non-Cumulative 5 Year Rate Reset Preferred Shares
- Convertible, on October 31, 2024 and on October 31 every 5 years thereafter, into an equal number of Series 2 Non-Cumulative Floating Rate Preferred Shares. Further details regarding post October 31, 2024 dividends, holders’ option to convert to Series 2 Preferred Shares, and automatic conversion upon the occurrence of a Trigger Event are set out in the final prospectus dated October 22, 2014.
- Dividends, for the five year period commencing on November 1, 2019, are at a rate of 6.772% per annum, payable quarterly on the last day of January, April, July and October (or next business day) to and including October 31, 2024. Thereafter, the dividend rate will reset every 5 years at a level of 543 basis points over the 5 year Government of Canada bond yield.
- Redeemable by the Bank, subject to regulatory approval, on October 31, 2024, and on October 31 every 5 years thereafter, at a price of $10.00 per share together with all declared and unpaid dividends.
NOTE: The above information is of a summary nature only. Specific terms and conditions of the securities are based on the securities offering documents. Users of this website should read the original offering documentation before making any investment decisions.