Life & Banc Split Corp.

Structured Finance:Split Shares & Funds

Summary

Life & Banc Split Corp. is a split share corporation that acquired a portfolio of common shares of the six largest Canadian banks and the four largest Canadian life insurance companies by issuing preferred shares and Class A shares. The preferred shares rank in priority to the Class A shares with respect to the payment of dividends and the repayment of capital upon the termination of the corporation.