Amgen Inc. Canadian Depositary Receipt (AMG0)

Profile

https://www.amgen.com

Amgen Inc. Canadian Depositary Receipt (CDR) is a financial instrument that provides Canadian investors with exposure to Amgen Inc., a leading biotechnology company focused on developing innovative human therapeutics. This CAD-hedged CDR represents fractional ownership of Amgen Inc. common stock through a dynamic CDR ratio, allowing investors to purchase economic equivalents of underlying shares at accessible price points, typically starting around CAD$10-$20 per unit. Key features include trading in Canadian dollars on a Canadian exchange, eliminating direct currency conversion costs and minimizing foreign exchange risk via a built-in notional hedge adjusted daily. Investors retain proportional rights to dividends, paid in CAD, and voting eligibility akin to direct shareholders. Designed for ease of access, Amgen Inc. Canadian Depositary Receipt facilitates diversification into global biotechnology without navigating foreign markets, while involving an annual hedging cost of approximately 0.60%. Launched as part of Canada's growing CDR ecosystem since 2021, it enhances portfolio opportunities in high-value U.S. equities.