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Endurance Specialty Holdings Ltd, 6.35% Dep Shares Non-cumul Preferred Shares C
Ticker Symbol: ENH-C*     CUSIP: 29267H406     Exchange: NYSE
Security Type:   Traditional Preferred Stock
* NOTE: This security is no longer trading as of 10/23/17

Security has been Called for:  Monday, October 23, 2017

From the form 6-K filed with the SEC on 10/6/2017 -- In connection with the liquidation of Endurance Specialty Holdings Ltd. (in Members’ Voluntary Liquidation) (the “Company”), following the transfer of substantially all of the Company’s assets and liabilities to its affiliate, Sompo International Holdings Ltd., on September 27, 2017, the Company today issued a notice of the distribution of the liquidation preference of $25,000 per share (the “Liquidation Preference”) on all 9,200 shares outstanding of its 6.350% Non-Cumulative Preferred Shares, Series C (the “Series C Preferred Shares”) on October 23, 2017, in full satisfaction of the Company’s obligations under the Series C Preferred Shares. The holders of the depositary receipts, each representing a 1/1000th interest in a Series C Preferred Share (the “Depositary Shares”), will receive a distribution of $25.00 per Depositary Share. In addition, the Board of Directors of the Company has declared a dividend on the Series C Preferred Shares of $167.5694 per Series C Preferred Share ($0.1675694 per Depositary Share), which represents the dividend amount on the Series C Preferred Shares from and including September 15th to but excluding October 23rd (the “Dividend”). The Dividend is payable on October 23, 2017 to holders of the Series C Preferred Shares (and Depositary Shares) on such date. The notice to holders of the Series C Preferred Shares (and the Depositary Shares), specifying the terms, conditions and procedures for the distribution of the Liquidation Preference and the Dividend for the Series C Preferred Shares, is available through The Depository Trust Company and the Company’s distribution agent, Computershare Trust Company, N.A. and Computershare Inc. ____________ Mar 28, 2017 -- SOMPO Holdings Completes Acquisition of Endurance Specialty Holdings; and Launches Sompo International, to be its first fully integrated global commercial insurance and reinsurance platform. The total consideration for the acquisition is US$ 6.3 bn. The terms of the merger state each preferred share issued and outstanding immediately prior to the effective time will continue as a preferred share of Endurance as the surviving company following the merger and the relative rights, terms and conditions of each such preferred share will remain unchanged.

QUANTUMONLINE.COM SECURITY DESCRIPTION:  Endurance Specialty Holdings Ltd., Depositary Shares each representing a 1/1,000th Interest in a share of 6.35% Non-Cumulative Preferred Shares, Series C, liquidation preference $25 per depositary share, redeemable at the issuer's option on or after 12/15/2020 at $25 per depositary share plus declared and unpaid dividends, and with no stated maturity. Cumulative distributions of 6.35% per annum ($1.5875 per annum or $0.396875 per quarter) will be paid quarterly on 3/15, 6/15, 9/15 & 12/15 to holders of record on the record date that will be the 15th calendar day prior to the payment date or on the record date fixed by the board, not more than 60 days or less than 10 days prior to the payment date (NOTE: the ex-dividend date is at least 2 business days prior to the record date). The dividends are non-cumulative and if the board of directors does not declare a dividend or the company fails to pay a dividend declared by the board for any quarterly dividend period, the holder will not be entitled to receive any dividend for that quarterly period and the undeclared or unpaid dividend will not accumulate. This security is possibly subject to an early call as a result of the occurrence of a change of control event, a capital disqualification event or a change in tax law event (see the prospectus for further information). Dividends paid by these preferred shares are eligible for the preferential income tax rate of 15% to a maximum of 20% depending on the holder's tax bracket (and under IRS specified holding restrictions) but, since they are issued by a foreign company, are NOT eligible for the dividends received deduction for corporate holders (see page 53 of the prospectus for further information). This security was rated as Ba1 by Moody’s and BBB- by S&P at the date of its IPO. In regard to the payment of dividends and upon liquidation, the preferred shares rank junior to the company's senior debt, equally with other preferreds of the company, and senior to the common shares of the company. See the IPO prospectus for further information on the preferred stock by clicking on the ‘Link to IPO Prospectus’ provided below.
Stock
Exchange
Cpn Rate
Ann Amt
LiqPref
CallPrice
Call Date
Matur Date
Moodys/S&P
Dated
Distribution Dates 15%
Tax Rate
NYSE
Chart
6.35%
$1.5875
$25.00
$25.00
Called for
10/23/17
n.a.
Ba1 BBB-
11/21/2015
3/15, 6/15, 9/15 & 12/15
Click for MW ExDiv Date
Click for Yahoo ExDiv Date
YES

Goto Parent Company's Record (ENH)

IPO - 11/18/2015 - 8.00 Million Shares @ $25.00/share.    Link to IPO Prospectus
Previous Ticker Symbol: ENHFF    Changed: 11/25/15
Market Value $ 200 Million

Yahoo News Summary for ENH-C*
YAHOO! Profile for ENH-C*
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MSN Company Report for ENH-C*

Company's Online Information Links
HOME PAGE:     http://www.endurance.bm/
Company's Investor Relations Information Goto Investor Relations Information
Company's Online News Releases Goto News Releases
Online Company Profile Goto Online Profile

Company's Online SEC EDGAR Filings
Company's SEC EDGAR Filings Goto SEC Filings

Company's Email Address Links
Email Address investorrelations@endurance.bm
Email Contact Form on Website Goto Email Form

Foreign Address and Phone Numbers
Address:   Waterloo House, 100 Pitts Bay Road, Pembroke HM 08, Bermuda
Main Phone Number 441-278-0400
Fax Number 441-278-0401
Inv Rel Phone Number 441-278-0988

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