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TORONTO, Sept. 14, 2012 /CNW/ - Scotia Managed Companies Administration Inc., on behalf of Top 20 U.S. Dividend Trust (the "Fund"), announced today that the Fund has filed a final prospectus with the securities regulatory authorities of all of the provinces and territories of Canada. The Fund will offer Class A Units and Class U Units (collectively the "Units") at a price of $10.00 per Class A Unit and US$10.00 per Class U Unit. Class U Units are designed for investors wishing to make their investment in U.S. dollars. The offering is expected to close on or about October 15, 2012. The Toronto Stock Exchange ("TSX") has conditionally approved the listing the Units under the symbol TUT.UN.
The Fund's investment objectives are to provide unitholders with: (i) stable monthly tax-advantaged distributions; and (ii) the opportunity for capital appreciation. The Fund will obtain economic exposure to an equally-weighted portfolio comprised of the 20 highest yielding equity securities included in the Dow Jones Industrial Average (the "Dow"). The Dow is a price-weighted average index consisting of 30 large and well-known U.S. "blue-chip" companies representing all industries with the exception of transportation and utilities.
The Units are being offered for sale by a syndicate of agents led by Scotiabank and including BMO Capital Markets, National Bank Financial Inc., TD Securities Inc., Canaccord Genuity Corp., Desjardins Securities Inc., GMP Securities L.P., Raymond James Ltd., Dundee Securities Ltd., Mackie Research Capital Corporation, Macquarie Private Wealth Inc., Manulife Securities Incorporated and Union Securities Ltd.
This offering is only made by prospectus. The prospectus contains important detailed information about the securities being offered. Copies of the prospectus may be obtained from any of the above-mentioned agents. Investors should read the prospectus before making an investment decision.
Certain statements included in this news release constitute forward-looking statements. The forward-looking statements are not historical facts but reflect current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. Scotia Managed Companies Administration Inc. undertakes no obligation to update publicly or otherwise revise any forward looking statement whether as a result of new information, future events or other such factors which affect this information, except as required by law. Investment funds are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer. There is no assurance that the Fund will be able to achieve its distribution and capital preservation objectives or that the full amount of a unitholders investment in the Fund will be returned. The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or any applicable exemption from the registration requirements. The press release does not constitute an offer to sell or the solicitation of an offer to buy securities nor will there be any sale of such securities in any state in which such offer, solicitation or sale would be unlawful.
SOURCE: Top 20 U.S. Dividend Trust
For further information:
Top 20 U.S. Dividend Trust
Tel: (416) 863-7801