Prospectus excerpt: The holders of Class A Non-Cumulative Rate Reset Preferred Shares Series 8R (the “Series 8R Shares”) of Sun Life Financial Inc. (“SLF” or the “Corporation”) will be entitled to receive fixed non-cumulative preferential cash dividends, as and when declared by the board of directors of the Corporation (the “Board of Directors”), for the initial period from and including the closing date of this offering to but excluding June 30, 2015 (the “Initial Fixed Rate Period”), payable quarterly on the last day of March, June, September and December in each year, at a per annum rate of 4.35% per share, or $0.271875 per share per quarter. The initial dividend, if declared, will be payable on September 30, 2010 and will be $0.38137 per share, based on the anticipated closing date of the offering hereunder of May 25, 2010 in respect of the period from and including such date of initial issue of Series 8R Shares to but excluding September 30, 2010. See “Details of the Offering”.
For each 5-year period after the Initial Fixed Rate Period (each a “Subsequent Fixed Rate Period”), the holders of Series 8R Shares will be entitled to receive fixed non-cumulative preferential cash dividends, as and when declared by the Board of Directors, payable quarterly on the last day of March, June, September and December in each year, in the amount per share per annum determined by multiplying the Annual Fixed Dividend Rate (as defined herein) applicable to such Subsequent Fixed Rate Period by $25.00. The Annual Fixed Dividend Rate for the ensuing Subsequent Fixed Rate Period will be determined by SLF on the Fixed Rate Calculation Date (as defined herein) and will be equal to the sum of the Government of Canada Yield (as defined herein) on the Fixed Rate Calculation Date plus 1.41%. See “Details of the Offering”.