Algonquin Power & Utilities Corp 6.20% Fixed-to-Floating Rate Subordinated Notes Series-A due July 1, 2079

Coupon is fixed at 6.2% until 7/1/2024 at which point it floats at 3 month Libor plus a spread of 4.01% until 7/1/2029 at which point it resets at 3 month Libor plus 4.26% and from 7/11/2049 until maturity it resets at 3 month Libor plus 5.01%.

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.





AQNB
AQN
NA
05/16/2019
07/01/2024
07/01/2079
14,000,000
0
6.20%
$25.00
No
No
0.388
MAR, JUN, SEP, DEC
15
JAN, APR, JUL, OCT
1
BB+
B
NR