High Yield & Mortgage Plus Trust (TSX:HYM.UN) said Tuesday it will redeem all of its outstanding redeemable, transferable units on Dec. 31.

HYM will request that the units be delisted from the Toronto Stock Exchange after the close of trading on Dec. 23.

HYM may pay a special distribution to all unitholders of record on Dec. 31, prior to redeeming the units.

The distribution, if any, together with the redemption proceeds for the units, will be paid by HYM on Jan. 5, 2015 through CDS Clearing and Depository Services Inc. It is anticipated that the units will be redeemed at their net asset value per unit on the redemption date, Dec. 31.

As HYN terminating, it will not pay its regular monthly distribution of $0.15625 per unit to unitholders of record on Dec. 31.