Exchange Bulletin
Horizons Enhanced US Large Cap Equity Covered Call ETF (USCL) To Trade On Toronto Stock Exchange
July 4, 2023
Issuer: Horizons Enhanced US Large Cap Equity Covered Call ETF (the "ETF")
| Security | Symbol | Issued and Outstanding Securities | Reserved Securities | Issue Price |
|---|---|---|---|---|
| Class A units (the "Units") | USCL | 100,001 | None | $20.00 |
| Listing category: | Non-Corporate |
| Trading currency: | CAD |
| Transaction: | Initial public offering of the Units (the "Offering") |
| Listing date: | July 5, 2023 (as at 5:01 pm) in anticipation of closing of the Offering. |
| Anticipated closing date: | July 6, 2023 (prior to the opening) |
| Posted for trading date: | July 6, 2023 (at the opening) subject to confirmation of closing of the Offering. |
| Other market(s): | None |
| Designated market maker: | National Bank Financial Inc. |
| Investor relations: | Martin Fabregas Tel.: (416) 601-2508 mfabregas@horizonsetfs.com |
| Incorporation: | The ETF is an open-end mutual fund trust established on June 28, 2023 under the laws of Ontario pursuant to an amended and restated master declaration of trust. The ETF is an "alternative mutual fund" as defined in NI 81-102. |
| Manager: | Horizons ETFs Management (Canada) Inc. |
| Fiscal year end: | December 31 |
| Nature of business: | The ETF seeks to provide, to the extent reasonably possible and net of expenses: (a) exposure to the performance of the large-cap market segment of the U.S. equity market; and (b) high monthly distributions of dividend and call option income. To generate income, the ETF will be exposed to a dynamic covered call option writing program. The ETF will also employ leverage not to exceed the limits on use of leverage described under "Investment Strategies" in the Prospectus (as defined below) through cash borrowing and will generally endeavor to maintain a leverage ratio of approximately 125%. |
| Transfer agent and registrar: | TSX Trust Company at its principal office in Toronto. |
| Distributions: | It is anticipated that the ETF will make distributions to its Unitholders on a monthly basis. |
| Sponsorship: | Not applicable |
| Offering document: | Prospectus dated June 28, 2023 (the "Prospectus") which is available at www.SEDAR.com. Capitalized terms not otherwise defined herein are as defined in the Prospectus. |
| Initial public offering: | 100,001 Units will be issued at a subscription price of $20.00 per Unit. The ETF is authorized to issue an unlimited number of Units. Units of the ETF are being issued and sold on a continuous basis and there is no maximum number of Units that may be issued. |
| TSX contact: | Selma Thaver, Managing Director, TSX Listings |