Algonquin Power & Utilities Series 6.875% Fixed-to-Floating Subordinated Notes 2018-A due 2078

Coupon is fixed at 6.875% until 10/17/2023 at which point it floats at 3 month Libor plus a spread of 3.677% until 10/17/2028 at which point it resets at 3 month Libor plus 3.927% and from 10/17/2043 until maturity it resets at 3 month Libor plus 4.677%.

It should be noted that this note contains a deferment provision on interest rate payments. The corporation may defer interest payments on 1 or more occasions for up to 5 consecutive years. Deferred interest will accrue, compounding on each subsequent interest payment date, until paid. No deferral may extend past the maturity date.





AQNA
AQN
NA
10/17/2018
10/17/2023
10/17/2078
10,000,000
1,500,000
6.875%
$25.00
No
No
0.43
JAN, APR, JUL, OCT
2
JAN, APR, JUL, OCT
17
BB+
B
NR