Sun Life sets 5.519% rate on 8M Series 10R prefs

All Series 11QR preferred shares will be converted into Series 10R, which will total 8,000,000 shares and carry a 5.519% reset dividend rate starting September 30, 2026.

Rhea-AI Filing Summary

Sun Life Financial Inc. (SLF) reported the results of the conversion privilege for its Class A preferred shares Series 10R and Series 11QR effective September 30, 2026. Holders elected to convert 1,400 of 6,838,672 Series 10R Shares into Series 11QR Shares and 621,829 of 1,161,328 Series 11QR Shares into Series 10R Shares on a one-for-one basis. Because fewer than 1,000,000 Series 11QR Shares would have remained outstanding, Sun Life will automatically convert all remaining Series 11QR Shares into Series 10R Shares and Series 10R holders will not be entitled to convert into Series 11QR. As a result, on September 30, 2026, Sun Life will have 8,000,000 Series 10R Shares outstanding and no Series 11QR Shares. From September 30, 2026 to September 30, 2031, Series 10R Shares will pay a 5.519% annual non-cumulative dividend, or $0.344938 per share per quarter, and may be redeemed at $25.00 per share on September 30, 2031 and every fifth year thereafter, subject to regulatory approval.

Key Figures

Series 10R Shares elected for conversion: 1,400 shares Series 11QR Shares elected for conversion: 621,829 shares Series 10R Shares outstanding after conversion: 8,000,000 shares +5 more

8 metrics

Series 10R Shares elected for conversion 1,400 shares Series 10R Shares elected to convert into Series 11QR on September 30, 2026

Series 11QR Shares elected for conversion 621,829 shares Series 11QR Shares elected to convert into Series 10R on September 30, 2026

Series 10R Shares outstanding after conversion 8,000,000 shares Issued and outstanding on September 30, 2026 after automatic conversions

Series 10R dividend rate 5.519% per annum Dividend rate for the period from September 30, 2026 to September 30, 2031

Series 10R quarterly dividend $0.344938 per share Non-cumulative preferential cash dividend per quarter during the 2026–2031 rate reset period

Series 10R redemption price $25.00 per share Cash amount per share payable on redemption dates starting September 30, 2031, plus declared and unpaid dividends

Spread over Government of Canada Yield 2.17% Spread added to Government of Canada Yield to set the 5-year Series 10R dividend rate

Assets under management $1.70 trillion Sun Life total assets under management as of June 30, 2026, in Canadian dollars

Key Terms

Non-cumulative preferential cash dividends, Government of Canada Yield, Insurance Companies Act (Canada), Rate Reset Preferred Shares, +2 more

6 terms

Non-cumulative preferential cash dividends financial

"holders of Series 10R Shares will be entitled to receive non-cumulative preferential cash dividends"

Government of Canada Yield financial

"being equal to the sum of the Government of Canada Yield, as defined"

The Government of Canada yield is the annual return investors receive from lending money to the Canadian federal government through its bonds and treasury notes; it’s shown as a percentage and moves as buyers and sellers trade those securities. Investors use it like a baseline interest rate—similar to a bank’s advertised savings rate—for valuing other investments, setting borrowing costs and gauging overall economic confidence, because government bonds are seen as very low-risk.

Insurance Companies Act (Canada) regulatory

"subject to the Insurance Companies Act (Canada)"

Rate Reset Preferred Shares financial

"Class A Non-cumulative Rate Reset Preferred Shares Series 10R"

Floating Rate Preferred Shares financial

"Class A Non-cumulative Floating Rate Preferred Shares Series 11QR"

assets under management financial

"As of June 30, 2026, Sun Life had total assets under management of $1.70 trillion"

Assets under management (AUM) is the total value of all the investments that a financial company or fund is responsible for overseeing on behalf of its clients. It’s like a big bucket that shows how much money the firm is managing for people or organizations. A higher AUM often indicates a larger, more trusted company, and it can influence how much money they earn and the services they can offer.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Sun Life (SLF) announce about the Series 10R and 11QR preferred shares?

Sun Life announced conversion results for its preferred shares. On September 30, 2026, all Series 11QR Shares will be converted into Series 10R Shares, leaving 8,000,000 Series 10R Shares outstanding and no Series 11QR Shares.

How many Sun Life (SLF) preferred shares are being converted between Series 10R and 11QR?

Holders elected to convert 1,400 of 6,838,672 Series 10R Shares into Series 11QR Shares and 621,829 of 1,161,328 Series 11QR Shares into Series 10R Shares, all on a one-for-one basis effective September 30, 2026.

What will be the dividend rate on Sun Life’s (SLF) Series 10R preferred shares after September 30, 2026?

From September 30, 2026 to September 30, 2031, Series 10R Shares will pay a 5.519% annual non-cumulative dividend, equal to $0.344938 per share per quarter, based on the Government of Canada Yield plus 2.17%.

Can Sun Life (SLF) redeem the Series 10R preferred shares, and at what price?

Subject to regulatory approval, Sun Life may redeem all or part of the Series 10R Shares on September 30, 2031 and every fifth year thereafter at $25.00 per share, plus any declared and unpaid dividends on the redemption date.

How many Series 10R preferred shares of Sun Life (SLF) will be outstanding after the conversions?

After the conversions on September 30, 2026, Sun Life will have 8,000,000 Series 10R Shares issued and outstanding and no Series 11QR Shares outstanding.

What is the size of Sun Life’s (SLF) assets under management mentioned in this report?

As of June 30, 2026, Sun Life reported total assets under management of $1.70 trillion, with all figures stated in Canadian dollars.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 6-K: How Foreign Companies Report to the SEC →

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Available on EDGAR 09/22/2026 - 06:01 AM Accepted by SEC EDGAR 09/21/2026 - 05:52 PM Learn about SEC filing dates

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 6-K

Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16
under the Securities Exchange Act of 1934

For the month of September 2026 Commission File Number: 001-15014

SUN LIFE FINANCIAL INC.

(Translation of registrant's name into English)

1 York Street, 31st Floor, Toronto, Ontario, M5J 0B6

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☐ Form 40-F ☒

Exhibits		Description
99.1		News Release dated September 21, 2026

SIGNATURE

Pursuant to the requirement of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. 

		Sun Life Financial Inc. (Registrant)
Date: September 21, 2026		By:		/s/ “Kevin Armitage”
				Kevin Armitage
				AVP & Managing Counsel, Corporate Legal

Exhibit 99.1

 

Sun Life Reports Results of Conversion Privilege of Class A Non-Cumulative Rate Reset Preferred Shares Series 10R and Class A Non-Cumulative Floating Rate Preferred Shares Series 11QR

TORONTO, Sept. 21, 2026 /CNW/ -- Sun Life Financial Inc. (TSX: SLF) (NYSE: SLF) ("Sun Life") today announced that 1,400 of its 6,838,672 Class A Non-cumulative Rate Reset Preferred Shares Series 10R (the "Series 10R Shares") have been elected for conversion on September 30, 2026, on a one-for-one basis, into Class A Non-cumulative Floating Rate Preferred Shares Series 11QR (the "Series 11QR Shares"), and 621,829 of its 1,161,328 Series 11QR Shares have been elected for conversion on September 30, 2026 on a one-for-one basis into Series 10R Shares.

Since there would be less than 1,000,000 Series 11QR Shares outstanding on September 30, 2026, after taking into account all such election notices received by the September 16, 2026 deadline for conversion, (i) Sun Life will automatically convert all remaining Series 11QR Shares into Series 10R Shares, on a one-for-one basis, on September 30, 2026, and (ii) the holders of Series 10R Shares are not entitled to convert their Series 10R Shares into Series 11QR Shares.

Consequently, on September 30, 2026, Sun Life will have 8,000,000 Series 10R Shares issued and outstanding and nil Series 11QR Shares issued and outstanding. The Series 10R Shares are listed on the Toronto Stock Exchange under the symbol SLF.PR.H.

As announced by Sun Life on August 31, 2026, commencing as of September 30, 2026, holders of Series 10R Shares will be entitled to receive non-cumulative preferential cash dividends on a quarterly basis, as and when declared by the Board of Directors of Sun Life and subject to the Insurance Companies Act (Canada). The dividend rate for the five-year period commencing on September 30, 2026 to but excluding September 30, 2031 will be 5.519% per annum or $0.344938 per share per quarter, being equal to the sum of the Government of Canada Yield, as defined in the terms of the Series 10R Shares, on Monday, August 31, 2026 plus 2.17%, as determined in accordance with the terms of the Series 10R Shares.

Subject to regulatory approval, Sun Life may redeem all or any part of the outstanding Series 10R Shares, at Sun Life's option, by the payment of an amount in cash for each share so redeemed of $25.00, together with all declared and unpaid dividends to the date fixed for redemption, on September 30, 2031 and on September 30 in every fifth year thereafter.

The Series 10R Shares and the Series 11QR Shares have not been and will not be registered under the United States Securities Act of 1933, as amended, and subject to certain exceptions, may not be offered, sold or delivered, directly or indirectly, in the United States of America for the account or benefit of U.S. persons. This release does not constitute an offer to sell or a solicitation to buy such securities in the United States.

About Sun Life

Sun Life is a leading international financial services organization providing asset management, wealth, insurance and health solutions to individual and institutional Clients. Sun Life has operations in a number of markets worldwide, including Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia and Bermuda. As of June 30, 2026, Sun Life had total assets under management of $1.70 trillion. For more information, please visit sunlife.com. 

Sun Life Financial Inc. trades on the Toronto (TSX), New York (NYSE) and Philippine (PSE) stock exchanges under the ticker symbol SLF.

Note to editors: All figures in Canadian dollars

To contact Sun Life media relations, please email Media.Relations@sunlife.com

To contact Sun Life investor relations, please email Investor_Relations@sunlife.com 

View original content to download multimedia:https://www.prnewswire.com/news-releases/sun-life-reports-results-of-conversion-privilege-of-class-a-non-cumulative-rate-reset-preferred-shares-series-10r-and-class-a-non-cumulative-floating-rate-preferred-shares-series-11qr-302885208.html

SOURCE Sun Life Financial Inc. - Financial News

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/September2026/21/c9081.html

%CIK: 0001097362

CO: Sun Life Financial Inc. - Financial News

CNW 17:01e 21-SEP-26

Filing Exhibits & Attachments

2 documents

Press Releases

• EX-991 NEWS RELEASE DATED SEPTEMBER 21, 2026 6.9 KB
• EX-991 PRINTER FRIENDLY VERSION 144.9 KB