The company confirmed that the conversion option remains subject to a minimum threshold of one million shares for each series. Should the total count of either series fall below this level following the September 30 deadline, the remaining shares will automatically convert to ensure liquidity. Sun Life expects to provide formal notice to affected registered holders by September 21, 2026.
In section Releases
Sun Life Details Conversion Terms for Series 10R and 11QR Shares
Sun Life Financial will not redeem its Class A Series 10R and Series 11QR preferred shares on September 30, 2026, triggering a conversion window for investors. Shareholders now have until September 16 to decide whether to swap their holdings between the rate-reset and floating-rate series on a one-for-one basis.
Investors planning to participate must coordinate with their brokers before the 5:00 p.m. ET cutoff on September 16. While the current redemption remains off the table, Sun Life retains the right to redeem these shares in the future, specifically on September 30, 2031, and every five years thereafter at a price of $25.00 per share. The company plans to announce the updated dividend rates for both series on August 31, 2026.
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