Manulife sets redemption price for 7.768% notes due 2019 at 107.381

By Wendy Van Sickle

Columbus, Ohio, Oct. 3 – Manufacturers Life Insurance Co. said it set the redemption price for its C$600 million of outstanding 7.768% medium-term notes due April 8, 2019 at 107.381.

The company will also pay accrued interest through the redemption date of Oct. 6 for a total redemption price of C$1,112.33 per C$1,000 note.

As previously reported, the company said on Aug. 15 that the notes would be redeemed on Oct. 6 at a redemption price equal to the greater of par and a price based on the yield of a corresponding Government of Canada bond plus 125 basis points.

Manulife is a financial services group based in Toronto.

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