On the 22nd of February 2017, Insurance Australia Group Limited (ASX: IAG) announced its intention to redeem the IAG Convertible Preference Shares (ASX: IAGPC) at the next call date (1st of May 2017).
As a result, the notes ceased trading on the ASX on the 8th of April 2017 with the last trading day being the 7th of April 2017.
Holders who are on the register at 7:00pm (Sydney time) on the 11th of April 2017 (Record Date) will be entitled to be paid the redemption proceeds of $100 face value per note together with the final interest payment of $2.0758 ($2.9655 grossed).
Investors should note that new IAGPC buyers do not qualify for franking credits as IAGPC is < 90 days to call date.
