Please replace the release issued June 21 at 10:00am ET with the following corrected version due to multiple revisions.
The updated release reads:
PRINCIPAL® ANNOUNCES CHANGES TO ACTIVE INCOME ETF
Principal® announced today plans to change the name of the Principal Active Income ETF (ticker: YLD) as a result of a standard review of its exchange-traded product offering. Effective September 1, 2021, the ETF will be renamed the Principal Active High Yield ETF, and its objective will seek to provide a high level of current income.
In addition to the name change, Principal will also execute a stock split for the Principal Active Income ETF according to the chart below (the record and pay dates replace dates originally announced on June 21). Shares of the Principal Active High Yield ETF will begin trading on a split-adjusted basis on August 31, 2021.
ETF Name | Ticker | Forward
| Record Date | Pay Date |
Principal Active Income ETF (t/b/k/a Principal Active High Yield ETF) | YLD | 2 for 1 | August 27, 2021 |
August 30, 2021,
|
As a result of the stock split, shareholders will receive a proportional number of the ETF with the same aggregate dollar value for each share of the fund currently held. Thus, the total dollar value of an investment in the ETF will be unchanged, and each shareholder will continue to own the same percentage (by value) of the ETF immediately following the stock split as it did immediately prior to the stock split. The stock split will not be a taxable event, nor does it have an impact on any ETF’s holdings or its performance.
No shareholder action is required either prior to or as a result of the name change or stock split. The fund ticker and CUSIP will remain the same.
About Principal Financial Group®
Principal Financial Group® (Nasdaq: PFG) is a global financial company with 17,000 employees1 passionate about improving the wealth and well-being of people and businesses. In business for more than 140 years, we’re helping more than 34 million customers2 plan, insure, invest, and retire, while working to support the communities where we do business, improve our planet, and build a diverse, inclusive workforce. Principal® is proud to be recognized as one of the World’s Most Ethical Companies3, a member of the Bloomberg Gender Equality Index, and a Top 10 “Best Places to Work in Money Management4.” Learn more about Principal and our commitment to sustainability, inclusion, and purpose at principal.com.
Principal, Principal and symbol design and Principal Financial Group are trademarks and service marks of Principal Financial Services, Inc., a member of the Principal Financial Group. © 2021 Principal Financial Services, Inc.
1 As December 31, 2020
2 As December 31, 2020
3 Ethisphere Institute, 2021
4 Pensions & Investments, 2020
View source version on businesswire.com: https://www.businesswire.com/news/home/20210621005061/en/
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