GWO.PR.T Firm On Good Volume

Great-West Lifeco Inc. has announced:

the completion of its offering of 8,000,000 5.15% Non-Cumulative First Preferred Shares, Series T through a syndicate of underwriters co-led by BMO Capital Markets, CIBC Capital Markets, Scotiabank and TD Securities Inc. for gross proceeds of $200 million. The Series T Shares will be listed for trading on the Toronto Stock Exchange under the symbol “GWO.PR.T”.

GWO.PR.T is a Straight Perpetual, 5.15%, announced 2017-05-09. The issue will be tracked by HIMIPref™ and has been assigned to the DeemedRetractible subindex.

As this issue is not NVCC compliant, it will be analyzed as a DeemedRetractible.

The issue traded 837,263 shares in a range of 24.95-05 before closing at 24.95-96. Vital statistics are:

GWO.PR.T Deemed-Retractible YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2025-01-31
Maturity Price : 25.00
Evaluated at bid price : 24.95
Bid-YTW : 5.21 %

There has been a little flattening in the curve (i.e., a decline of Implied Volatility) in the Implied Volatility for Straights analysis:

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