BAM.PR.R, the new FixedReset 5.40%+230 announced January 5 closed today and was able to close well above par on heavy volume. The issue traded 614,165 shares in a range of 24.95-30 before closing at 25.26-30, 8×61.
Vital statistics are:
BAM.PR.R | FixedReset | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2040-01-14 Maturity Price : 23.17 Evaluated at bid price : 25.26 Bid-YTW : 4.89 % |
BAM.PR.R is tracked by HIMIPref™. It has been added to the FixedResets subindex.
[…] Recent new issue. YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2040-01-18 Maturity Price : 23.19 Evaluated at bid price : 25.30 Bid-YTW : 4.82 % […]
[…] initial fixed-rate period on this issue is six and a half years, just as was the slightly earlier BAM.PR.R new issue. In distinction to other commenters, I feel that the longer term has a lot more to do with the […]