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% until 10/17/2043 then it resets at 3 month Libor plus 4.677% until maturity
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.