Sun Life Financial Inc. Announces Intention to Redeem Series 2019-1 Subordinated Unsecured 2.38% Fixed/Floating Debentures

Sun Life Financial Inc. has announced that it intends to redeem all of the outstanding $750 million principal amount of Series 2019-1 Subordinated Unsecured 2.38% Fixed/Floating Debentures in compliance with the redemption provisions attached to Debentures. The redemption will be funded using existing cash and liquid assets.

The Debentures are redeemable at Sun Life's discretion on or after August 13, 2024, at a redemption price equal to the principal amount plus accrued and unpaid interest to the date of redemption. Sun Life plans to redeem the Debentures on August 13, 2024. Notice will be provided to the Debenture holders in accordance with the terms outlined in the Debentures' trust indenture.

After the Debentures are redeemed, interest will cease to accrue from and after the Redemption Date, and Debenture holders will have no rights other than to receive the redemption price.

​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 March 31, 2024, Sun Life had total assets under management of $1.47 trillion.