December 7, 2020

Quadravest has announced:

Financial 15 Split Corp. (“Financial 15”) is pleased to announce it has reinstated Class A share dividends at a monthly distribution rate of $0.1257 for each post-consolidation FTN Class A share ($1.5084 annually) and declares $0.05625 for each FTN.PR.A Preferred share ($0.675 annually). The current rate for the Class A shares of $1.5084 is a post-consolidation yield of 17% based on Friday’s pre-consolidation closing price of $3.65. This is an increase in the dividend for the Class A shares from previous guidance. Distributions are payable January 8, 2021 to shareholders on record as at December 31, 2020.

Note that FTN will be trading on a pre-consolidation basis until ‘on or about December 17’.

HIMIPref™ Preferred Indices
These values reflect the December 2008 revision of the HIMIPref™ Indices

Values are provisional and are finalized monthly
Index Mean
Current
Yield
(at bid)
Median
YTW
Median
Average
Trading
Value
Median
Mod Dur
(YTW)
Issues Day’s Perf. Index Value
Ratchet 0.00 % 0.00 % 0 0.00 0 0.6329 % 1,905.0
FixedFloater 0.00 % 0.00 % 0 0.00 0 0.6329 % 3,495.6
Floater 4.49 % 4.55 % 59,475 16.23 2 0.6329 % 2,014.5
OpRet 0.00 % 0.00 % 0 0.00 0 0.2189 % 3,604.6
SplitShare 4.80 % 4.31 % 40,300 3.85 9 0.2189 % 4,304.6
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 0.2189 % 3,358.6
Perpetual-Premium 5.32 % 1.42 % 76,948 0.22 19 0.0783 % 3,200.8
Perpetual-Discount 4.96 % 5.04 % 82,069 15.39 12 -0.3128 % 3,688.6
FixedReset Disc 5.06 % 3.95 % 133,032 17.11 56 0.1208 % 2,300.5
Insurance Straight 5.01 % 4.62 % 91,125 4.94 22 -0.0346 % 3,585.8
FloatingReset 1.96 % 2.06 % 45,750 1.14 3 0.0659 % 1,842.7
FixedReset Prem 5.16 % 3.15 % 200,665 0.70 22 -0.0787 % 2,672.1
FixedReset Bank Non 1.94 % 2.09 % 182,737 1.13 2 0.0803 % 2,870.0
FixedReset Ins Non 5.11 % 3.96 % 80,856 17.13 22 0.3730 % 2,390.1
Performance Highlights
Issue Index Change Notes
SLF.PR.G FixedReset Ins Non -4.64 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-12-07
Maturity Price : 11.50
Evaluated at bid price : 11.50
Bid-YTW : 4.08 %
SLF.PR.C Insurance Straight -4.28 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-12-07
Maturity Price : 23.20
Evaluated at bid price : 23.50
Bid-YTW : 4.72 %
CU.PR.F Perpetual-Discount -4.10 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-12-07
Maturity Price : 22.97
Evaluated at bid price : 23.40
Bid-YTW : 4.81 %
CU.PR.C FixedReset Disc -2.21 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-12-07
Maturity Price : 17.26
Evaluated at bid price : 17.26
Bid-YTW : 4.25 %
BMO.PR.T FixedReset Disc -1.50 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-12-07
Maturity Price : 19.05
Evaluated at bid price : 19.05
Bid-YTW : 3.81 %
BAM.PF.B FixedReset Disc -1.40 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-12-07
Maturity Price : 17.65
Evaluated at bid price : 17.65
Bid-YTW : 4.88 %
IFC.PR.G FixedReset Ins Non 1.02 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-12-07
Maturity Price : 19.75
Evaluated at bid price : 19.75
Bid-YTW : 4.24 %
MFC.PR.L FixedReset Ins Non 1.03 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-12-07
Maturity Price : 17.58
Evaluated at bid price : 17.58
Bid-YTW : 4.06 %
IFC.PR.C FixedReset Ins Non 1.16 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-12-07
Maturity Price : 19.20
Evaluated at bid price : 19.20
Bid-YTW : 4.17 %
MFC.PR.F FixedReset Ins Non 1.18 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-12-07
Maturity Price : 12.00
Evaluated at bid price : 12.00
Bid-YTW : 3.96 %
BAM.PF.E FixedReset Disc 1.22 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-12-07
Maturity Price : 16.60
Evaluated at bid price : 16.60
Bid-YTW : 4.86 %
BIP.PR.E FixedReset Disc 1.23 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-12-07
Maturity Price : 23.04
Evaluated at bid price : 23.90
Bid-YTW : 5.19 %
TRP.PR.G FixedReset Disc 1.23 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-12-07
Maturity Price : 16.40
Evaluated at bid price : 16.40
Bid-YTW : 5.25 %
GWO.PR.R Insurance Straight 1.30 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-12-07
Maturity Price : 24.61
Evaluated at bid price : 24.91
Bid-YTW : 4.81 %
IAF.PR.I FixedReset Ins Non 1.31 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-12-07
Maturity Price : 20.90
Evaluated at bid price : 20.90
Bid-YTW : 4.08 %
SLF.PR.I FixedReset Ins Non 1.33 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-12-07
Maturity Price : 20.57
Evaluated at bid price : 20.57
Bid-YTW : 3.94 %
TRP.PR.E FixedReset Disc 1.50 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-12-07
Maturity Price : 14.92
Evaluated at bid price : 14.92
Bid-YTW : 5.16 %
BIP.PR.F FixedReset Disc 1.61 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-12-07
Maturity Price : 22.92
Evaluated at bid price : 23.91
Bid-YTW : 5.29 %
PWF.PR.P FixedReset Disc 1.72 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-12-07
Maturity Price : 11.80
Evaluated at bid price : 11.80
Bid-YTW : 4.46 %
NA.PR.G FixedReset Disc 1.83 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-12-07
Maturity Price : 21.98
Evaluated at bid price : 22.30
Bid-YTW : 3.93 %
BIP.PR.A FixedReset Disc 2.47 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-12-07
Maturity Price : 18.70
Evaluated at bid price : 18.70
Bid-YTW : 5.39 %
GWO.PR.N FixedReset Ins Non 3.29 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-12-07
Maturity Price : 11.00
Evaluated at bid price : 11.00
Bid-YTW : 4.05 %
Volume Highlights
Issue Index Shares
Traded
Notes
PWF.PR.P FixedReset Disc 64,500 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-12-07
Maturity Price : 11.80
Evaluated at bid price : 11.80
Bid-YTW : 4.46 %
NA.PR.G FixedReset Disc 54,308 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-12-07
Maturity Price : 21.98
Evaluated at bid price : 22.30
Bid-YTW : 3.93 %
TD.PF.I FixedReset Disc 48,674 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-12-07
Maturity Price : 23.61
Evaluated at bid price : 23.95
Bid-YTW : 3.76 %
BAM.PF.G FixedReset Disc 47,500 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-12-07
Maturity Price : 17.35
Evaluated at bid price : 17.35
Bid-YTW : 4.84 %
RY.PR.J FixedReset Disc 45,500 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-12-07
Maturity Price : 21.30
Evaluated at bid price : 21.30
Bid-YTW : 3.80 %
MFC.PR.H FixedReset Ins Non 42,800 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-12-07
Maturity Price : 22.92
Evaluated at bid price : 23.40
Bid-YTW : 3.88 %
There were 27 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
Issue Index Quote Data and Yield Notes
CU.PR.F Perpetual-Discount Quote: 23.40 – 24.70
Spot Rate : 1.3000
Average : 0.7930

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-12-07
Maturity Price : 22.97
Evaluated at bid price : 23.40
Bid-YTW : 4.81 %

SLF.PR.C Insurance Straight Quote: 23.50 – 24.70
Spot Rate : 1.2000
Average : 0.7625

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-12-07
Maturity Price : 23.20
Evaluated at bid price : 23.50
Bid-YTW : 4.72 %

GWO.PR.N FixedReset Ins Non Quote: 11.00 – 12.00
Spot Rate : 1.0000
Average : 0.7193

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-12-07
Maturity Price : 11.00
Evaluated at bid price : 11.00
Bid-YTW : 4.05 %

CM.PR.Q FixedReset Disc Quote: 20.80 – 21.51
Spot Rate : 0.7100
Average : 0.4741

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-12-07
Maturity Price : 20.80
Evaluated at bid price : 20.80
Bid-YTW : 3.93 %

CU.PR.C FixedReset Disc Quote: 17.26 – 18.00
Spot Rate : 0.7400
Average : 0.5434

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-12-07
Maturity Price : 17.26
Evaluated at bid price : 17.26
Bid-YTW : 4.25 %

SLF.PR.G FixedReset Ins Non Quote: 11.50 – 12.18
Spot Rate : 0.6800
Average : 0.5226

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2050-12-07
Maturity Price : 11.50
Evaluated at bid price : 11.50
Bid-YTW : 4.08 %

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