Changes to the holdings of some campaigns - previous years
Vivendi SA
Affected campaigns
April 2017, June 2017, August 2017, October 2017, December 2017, February 2018, April 2018, June 2018, August 2018, October 2018
Basket of securities
Europe
Impact
Spin-off of Universal Music Group (UMG) by Vivendi SA (VIV)
On September 21, 2021, VIV was spun off into two separate entities, VIV and UMG. To ensure the nature of the basket of securities remains as unchanged as possible, the VIV component was replaced with the following combination: one (1) share of VIV and one (1) share of UMG. These proportions are similar to those established for the spin-off of VIV.
Merck & Co Inc.
Affected campaigns
June 2016, August 2016, October 2016, December 2016 and February 2017
Basket of securities
Healthcare
Impact
On June 3, 2021 Merck & Co Inc. conducted a spin-off of its subsidiary Organon & Co. at a final distribution ratio of 0.10 common shares of Organon & Co. per common share of Merck & Co Inc. held. As a result of this transaction and to preserve as much as possible the nature of the reference basket, the latest was adjusted effective June 3, 2021 as follows: all shares allocated to Organon & Co. were replaced by those of Merck & Co Inc., according to an adjustment factor. Therefore, Merck & Co Inc. remains the relevant company when determining returns on the basket on each valuation date, beginning June 3, 2021.
Pfizer (PFE)
Affected campaigns
December 2015, February 2016, April 2016, June 2016, August 2016, October 2016, December 2016, February 2017, December 2019, February 2020, April 2020, June 2020
Basket of securities
Healthcare, Global Diversified
Impact
On November 17, 2020, PFE was spun off into 2 separate entities, Pfizer (PFE) and Upjohn Inc (UPJ). To ensure the nature of the basket of securities you invested in remains as unchanged as possible, the portion of assets allocated to UPJ was reinvested in PFE. These proportions are similar to those established for the spin-off of UPJ.
NTT Docomo Inc (NTT)
Affected campaigns
December 2018, February 2019, April 2019, June 2019, August 2019, October 2019
Affected campaigns
Global Diversified
Impact
November 20, 2020: A tender offer has been made for NTT Docomo Inc (NTT) by Nippon Telegraph and Telephone Corp (NIP). To ensure the nature of the basket of securities you invested in remains as unchanged as possible, the NTT component was replaced by NIP. The performance on NTT from inception to November 20, 2020 will be applied to NIP.
Siemens AG (SIE)
Affected campaigns
October 2013, December 2013, February 2014, April 2014, June 2014, August 2014, December 2018, February 2019, April 2019, June 2019, August 2019, October 2019
Basket of securities
Global Diversified
Impact
On September 28, 2020, SIE was spun off into two separate entities, Siemens (SIE) and Siemens Energy (ENR). To ensure the nature of the basket of securities you invested in remains as unchanged as possible, the SIE component will be replaced with the following combination: one (1) share of SIE and 1/2 of a share of ENR. These proportions are similar to those established for the spin-off of SIE.
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Agrium Inc.
Potash Corporation of Saskatchewan -
Affected campaigns
October 2014, December 2014, February 2015, April 2015, June 2015, August 2015, October 2015, December 2015, February 2016, April 2016, June 2016, August 2016, October 2016, December 2016, February 2017
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Basket of securities
Global Diversified
-
Impact
On January 2, 2018, Canadian companies Agrium Inc. (AGU CT) and Potash Corporation of Saskatchewan (POT CT) closed their planned merger to form Nutrien Ltd. (NTR CT).
he only basket of securities affected is Global Diversified. The Agrium Inc. (AGU CT) and Potash Corporation of Saskatchewan (POT CT) holdings will be replaced by Nutrien Ltd. (NTR CT) holdings as of January 2, 2018.
- For AGU CT, the adjustment factor applied to the starting price is 0.44843 (1/2.23)
- For POT CT, the adjustment factor applied to the starting price is 2.5 (1/0.4)
McGraw-Hill Financial Inc.
Affected campaigns
June 2016
Baskets of securities
Global Diversified
Impacts
On April 28, 2016, MHFI changed its name to S&P Global Inc. The ticker has been changed to SPGI.
GDZ Suez
Affected campaigns
October 2015
Baskets of securities
Global Diversified
Impacts
On July 31, 2015, GDZ Suez changed name to become Engie. The ticker GDZ FP was replaced by ENGI FP.
Kraft Foods
Affected campaigns
January 2010, October 2012, October 2014, December 2014, February 2015, April 2015
Baskets of securities
Consumer Staples
Global Diversified
Impacts
On July 6, 2015, Kraft Foods (KRFT) merged with Heinz Co (HNZ) to create The Kraft Heinz Co (KHC). To ensure that your investment remains as unchanged as possible, KRFT security will be replaced with KHC security. KRFT security’s return will be considered between the initial index date and July 6, 2015. The extraordinary dividend related to the merger will be reinvested in KHC.
Reed Elsevier NV
Affected campaigns
October 2014, December 2014, February 2015, April 2015, June 2015
Baskets of securities
Global Diversified
Impacts
On June 26, 2015, Reed Elsevier NV changed name to become Relx NV. The ticker (REN NA) remains unchanged.
BHP Billiton
Affected campaigns
April 2013, June 2013, August 2013
Baskets of securities
Global Diversified
Impacts
BHP Billiton completes spin off on May 18, 2015.
At the time of the spin off, the holders of one BHP Billiton share received one BHP Billiton share plus one South 32 (S32) share.
This restructuring will have the following impacts on the Global Diversified basket of securities of our campaigns:
April 2013, June 2013 and August 2013 campaigns
In order to preserve the nature of the basket of securities, the portion of assets allocated to S32 was reinvested in BHP Billiton shares at market closing on May 18.
Reckitt Benckiser Group PLC
Affected campaigns
April 2014, June 2014, August 2014, October 2014, December 2014
Baskets of securities
Consumer Staples
Impacts
On December 23, 2014, Reckitt Benckiser completed the spin-off of its, resulting in the creation of two separate entities: Reckitt Benckiser and Indivior PLC. The demerger has had the following impacts on the Consumer Staples basket of securities for our campaigns:
December 2014 and earlier campaigns
So as not to alter the nature of the basket of securities, each Reckitt Benckiser share has been replaced by the following combination: one Reckitt Benckiser share and one Indivior PLC share. The change is effective December 23, 2014, and will remain in effect until the end of the investment term.
Kimberley Clark Corporation
Affected campaigns
March 2009, January 2010, October 2012, December 2012, February 2013, April 2013, August 2013, October 2013, December 2013, February 2014, April 2014, June 2014, August 2014, October 2014
Baskets of securities
Consumer Staples
Global Diversified
Impacts
Kimberley-Clark Corp. completes spin off on October 31, 2014.
At the time of the spin off, the holders of one Kimberley-Clark Corp. share received one Kimberley-Clark Corp. share plus one-eighth (1/8) of a Halyard Health share.
This restructuring has had the following impacts on the Consumer Staples and Global Diversified baskets of securities of our campaigns:
October 2014 and earlier campaigns
In order to preserve the nature of the baskets of securities, one-eighth (1/8) of the Halyard Health security has been reinvested in the Kimberley-Clark Corp. security based on the October 31, 2014 closing price.
Automatic Data Processing, Inc.
Affected campaigns
October 2014
Baskets of securities
Global Diversified
Impacts
Automatic Data Processing Inc. spins off into 2 separate companies
On October 1, 2014, Automatic Data Processing Inc. spun off into 2 separate companies: Automatic Data Processing Inc. and CDK Group Inc.
Here’s how the restructuring has affected our campaigns’ Global Diversified basket of securities:
October 2014 campaign
To preserve the nature of the basket of securities as much as possible, the Automatic Data Processing Inc. security has been replaced by the following combination: one (1) Automatic Data Processing Inc. security, plus one third (1/3) of the CDK Group Inc. security. These proportions are comparable to those determined at the time of the Automatic Data Processing Inc. spin-off.
H.J. Heinz Company
Affected campaigns
March 2009, January 2010, October 2012, December 2012, February 2013, April 2013
Baskets of securities
Consumer Staples
Impacts
As of February 22, 2013, H.J. Heinz Company’s stock has been replaced with Kellogg Company’s stock.
This change has had the following effects on our Consumer Staples basket of securities campaigns:
April 2013 campaign
H.J. Heinz Company’s stock has been replaced by Kellogg Company’s stock. Total performance will be based on the performance of 10 securities, each of which is weighted at 10%.
Previous campaigns
The following campaigns are affected by this change: March 11, 2009, January 13, 2010, October 10, 2012, December 5, 2012 and February 13, 2013.
To calculate performance upon maturity of the Consumer Staples basket, the performance of H. J. Heinz Company will be used from the initial date until February 21, 2013 inclusive, and the performance of Kellogg Company will be used from February 22, 2013 until maturity.
Abbott Laboratories
Affected campaigns
July 2012, October 2012, December 2012, February 2013
Baskets of securities
Healthcare
Impacts
Abbott Laboratories spun off into two companies on January 2, 2013: Abbott Laboratories and AbbVie Inc..
The restructuring had the following impact on our campaigns' baskets of Healthcare securities:
Campaign of February 13, 2013
Abbott Laboratories has been replaced as follows: Abbott Laboratories (50%) and AbbVie Inc. (50%). The total return will therefore be based on the returns of 11 securities. The weight of each return will be 10%, except for Abbott Laboratories, which will be 5%, and AbbVie Inc., which will be 5%.
Campaigns of July 11, 2012, October 10, 2012 and December 5, 2012
Abbott Laboratories continues to represent 10% of the total weight of the Healthcare basket. After the spin-off, however, the value of the Abbott Laboratories security was replaced by the value of the AbbVie Inc. security plus the Abbott Laboratories security. This security's return at maturity will be calculated as follows:
Return of Abbott Laboratories = [ (1 x Abbott Laboratories maturity + 1 x AbbVie Inc. maturity) / Abbott Laboratories issue ] - 1
Kraft Foods Group Inc.
Affected campaigns
March 2009, January 2010, October 2012, December 2012
Baskets of securities
Consumer Staples
Impacts
Kraft Foods spun off into two companies on October 2, 2012: Kraft Foods Group and Mondelez International.
Since the restructuring, one share of Kraft Foods is equal to one share of Mondelez International plus a 1/3 share of Kraft Foods Group. The restructuring had the following impact on our campaigns' baskets of Consumer Staples securities:
Campaign of December 5, 2012
Kraft Foods has been replaced by General Mills, the parent company behind such well-known brands as Betty Crocker, Cheerios, Häagen-Dazs, Liberté, Lucky Charms, Old El Paso, Pillsbury, Wheaties and Yoplait.
Campaign of October 10, 2012
Kraft Foods has been replaced as follows: Mondelez (65%) and Kraft Foods Group (35%). The total return will therefore be based on the returns of 11 securities. The weight of each return will be 10%, except for Mondelez, which will be 6.5%, and Kraft Foods Group, which will be 3.5%.
Campaigns of March 11, 2009 and January 13, 2010
Kraft Foods continues to represent 10% of the total weight of the Consumer Staples basket. After the spin-off, however, the value of the Kraft Foods security was replaced by the value of the Mondelez security plus 1/3 of the Kraft Foods Group security. This security's return will be calculated as follows:
Return of Kraft Foods = [ (1 x Mondelez + 1/3 x Kraft Foods Group) / Kraft Foods ] - 1