Exchange Bulletin

PineBridge Investment Grade Preferred Securities Fund (PRF.UN) To Trade On Toronto Stock Exchange


June 27, 2014

PineBridge Investment Grade Preferred Securities Fund (the "Fund") - An application has been granted for the original listing in the Industrial category of up to 4,600,000 Units of the Fund, of which up to 4,000,000 Units will be issued and outstanding and up to 600,000 Units will be reserved for issuance upon completion of an initial public offering (the "Offering").

Listing of the Units will become effective at 5:01 p.m. on Thursday, June 26, 2014, in anticipation of the Offering closing on Friday, June 27, 2014. The Units will be posted for trading at the opening on June 27, 2014.

Registration of interests in and transfers of the Units will be made only through non-certificated interests issued under the book-entry only system of CDS Clearing and Depository Services Inc. ("CDS"). Units must be purchased, converted, transferred and surrendered for redemption only through a CDS Participant. Upon purchase of any Units, the owner will receive only the customary confirmation from the registered dealer which is a CDS Participant (from or through which the Units were purchased).

Additional information on the Units may be found in Fund's final prospectus dated May 28, 2014 (the "Prospectus"), which is available at www.SEDAR.com. Capitalized terms not otherwise defined are as defined in the Prospectus.

Stock Symbol: "PRF.UN" CUSIP: 72302R 10 4 Trading Currency: CDN$



Temporary Market Maker: RBC Capital Markets
Other Markets: None.
Head Office Address: 1 First Canadian Place
100 King St. West, 3rd Floor Podium
P.O. Box 150
Toronto, ON
M5X 1H3
Email Address: gloria.lau@bmo.com
Website: www.bmocm.com
Head Office Telephone Number: (866) 864-7760
Fax Number: (416) 359-5727
Investor Relations: Gloria Lau
Tel: (866) 864-7760
Email: admin.dealerservices@bmonb.com

Chief Financial Officer: Peter Hinman
Corporate Secretary: Penelope Muradya
Manager of the Fund: BMO Nesbitt Burns Inc.
Incorporation: The Fund is a closed-end investment fund established as a trust under the laws of the Province of Ontario pursuant to a declaration of trust dated May 28, 2014.
Fiscal Year End: December 31
Nature of Business: The Fund has been created to invest in a global portfolio of securities comprised primarily of Investment Grade preferred securities. The Fund will invest at least 80% of the Total Assets in preferred securities, 75% of the Total Assets in Investment Grade securities and 50% of the Total Assets in securities of U.S. domiciled companies. The Fund will initially invest primarily in preferred securities issued by companies in the financial services sector but will also invest in securities issued by companies in other sectors.
Transfer Agent & Registrar: CST Trust Company, at its principal offices in Toronto.
Redemption Fee: A Unitholder who redeems a Unit on an Annual Redemption Date occurring in 2023 or earlier, or on a Monthly Redemption Date, will be required to pay to the Manager a redemption fee (the "Redemption Fee"). If the redemption occurs on an Annual Redemption Date, the amount of the Redemption Fee will vary based on the Annual Redemption Date on which the Unit is redeemed as described below:

If redeemed on the Annual Redemption Date occurring in:Redemption Fee per Unit:
2016 $1.20
2017 $1.05
2018 $0.90
2019 $0.75
2020 $0.60
2021 $0.45
2022 $0.30
2023 $0.15
After 2023 Nil


If the redemption occurs on a Monthly Redemption Date, the Redemption Fee will be equal to 5% of the Monthly Redemption Amount.

Distributions: The Fund intends to make monthly distributions to Unitholders of record on the last Business Day of each month. Distributions will be paid on a Business Day designated by the Manager that will be on or about the 15th day of the following month. The monthly distributions are initially targeted to be $0.125 per Unit ($1.50 per annum per Unit) representing an annual yield of 6.0% on the $25.00 per Unit issue price. The initial cash distribution of $0.125 is anticipated to be payable on or about September 15, 2014 to Unitholders of record on August 29, 2014, based on an anticipated closing date of June 27, 2014.

The amount of distributions may fluctuate from month to month and there can be no assurance that the Fund will make any distribution in any particular month or months or that the targeted distribution target will be met.

The Fund intends that the monthly distributions will be paid in cash. However, year-end special distributions may be paid in cash and/or Units from time to time.

Public Offering: Pursuant to the terms of the Prospectus, up to a maximum of 4,000,000 Units are being offered to the public by BMO Nesbitt Burns Inc., CIBC World Markets Inc., Scotia Capital Inc., National Bank Financial Inc., TD Securities Inc., Canaccord Genuity Corp., GMP Securities L.P., Raymond James Ltd., Desjardins Securities Inc., Mackie Research Capital Corporation, Manulife Securities Incorporated, Burgeonvest Bick Securities Limited, Dundee Securities Limited, Industrial Alliance Securities Inc. and Laurentian Bank Securities Inc., as agents, at a price of $25.00 per Unit.