CNSX Starts Listing Structured Products

The time is right for a transparent, exchange-traded debt market in Canada 

TORONTO – November 7, 2011 – CNSX Markets Inc. today announced that BAC Canada Finance Company 5 year Extendible Step Up Semi-Annual Pay Medium-Term Notes, Series 1 (the “Notes”) have been posted for trading on the Canadian National Stock Exchange (CNSX). The Notes are trading under symbol BMF.DB.A and the issuer expects to raise up to $20 million. They are currently trading on an “if, as and when issued” basis until November 9, 2011.

The Notes are unsecured and unsubordinated debt securities of BAC Canada Finance Company (formerly Merrill Lynch Canada Finance Company), all amounts payable are unconditionally guaranteed by Bank of America Corporation. The company will pay interest semi-annually during the term of the Notes at an initial rate of 4.00% from and including November 15, 2011 to, but excluding November 15, 2012.

“We believe that this new product represents the start of an exciting new debt market in Canada”, stated Richard Carleton, Interim CEO of CNSX Markets. “Issuers will be able to take advantage of the cost effectiveness of the exchange’s listings process and retail investors will be able to benefit from the transparency of the exchange’s rules in trading these fixed income-based products”, he added.

Stuart Investment Management Limited acted as agent on the offering of the Notes and will use its best efforts to initiate and ensure a secondary market is maintained for the Notes on CNSX.

“This is the first structured product to list on CNSX”, noted William Woods, Managing Director – Listed Market. “Structured products markets are growing rapidly on stock exchanges in America and Europe and CNSX plans to be Canada’s primary exchange for debt securities. CNSX is the ideal exchange to list structured products, investment funds, and debt securities because it has a streamlined listing process, with product specific listing policies designed to facilitate medium term note programmes and other structured products, and the lowest listing fees in Canada”, he added.

For more information about listing on CNSX, please contact

CNSX Markets Inc.
William Woods – Managing Director, Listed Market
T: 416-572-2000 x 2363
E: william.woods@cnsx.ca
OR
James Black (Vancouver): 604-331-1213 x 227
Mark Francis (Calgary): 403-532-7870
Scott Pritchard (Montreal): 514-594-6848
Or visit our website: www.cnsx.ca 
 
 

About CNSX Markets:

CNSX Markets Inc. is a Canadian company that operates two distinct markets: The Canadian National Stock Exchange; and Pure Trading, which provides a high-speed trading venue for stocks listed on Canadian stock exchanges.

CNSX competes for listings and trading by offering lower listing fees and innovative continuous disclosure features designed to minimize regulatory costs while improving the quality of information available to investors. With over 150 securities listed, CNSX is a full service exchange for issuers of various types of securities from all business sectors.

Companies list on CNSX for a variety of reasons; the driving force behind most new listings is CNSX’s optimized listing regime, which combines market integrity and enhanced disclosure with a simplified listings process. This results in a saving of both management’s time and shareholder’s money, in the short and long term.