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BMO U.S. Aggregate Bond to trade on TSX Jan. 26

2023-01-24 20:19 ET - New Listing

The Toronto Stock Exchange reports that BMO U.S. Aggregate Bond will be listed at 5:01 p.m. on Jan. 25, 2023, for trading at the open on Jan. 26, 2023. According to the TSX, there will be 50,000 Canadian-dollar units, 700,000 Canadian-dollar hedged units and 50,000 U.S.-dollar units of the exchange-traded fund (ETF) issued and outstanding, with no securities reserved for issuance. The Canadian-dollar units will trade under the symbol ZUAG and with Cusip No. 05592U 10 6, the Canadian-dollar hedged units will trade under the symbol ZUAG.F and with Cusip No. 05592U 11 4, and the U.S.-dollar units will trade under the symbol ZUAG.U and with Cusip No. 05592U 12 2.

The TSX reports that the ETF seeks to replicate, to the extent possible, the performance of a United States aggregate bond index, net of expenses. In respect of the hedged units, the ETF will also invest in or use derivative instruments to seek to hedge U.S. currency exposure. According to the TSX, the ETF expects to pay cash distributions on its units on a monthly basis in the currency in which the units are denominated.

As stated in its prospectus dated Jan. 17, 2023, the ETF will issue 50,000 Canadian-dollar units at $30 (Canadian) per unit, 700,000 Canadian-dollar hedged units at $30 (Canadian) per unit and 50,000 U.S.-dollar units at $30 (U.S.) per unit in its initial public offering. It expects to close the offering on Jan. 26, 2023. The ETF's manager and trustee is BMO Asset Management Inc., its transfer agent and registrar is State Street Trust Company Canada at its principal offices in Toronto, and its fiscal year-end is Dec. 31. The designated market-maker is BMO Nesbitt Burns Inc.

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