The October edition of Prefletter contains an error on page 9 regarding the yield of SBC.PR.A
On October 12, at a bid price of 10.24, the yield of SBC.PR.A to its maturity 2017-11-29 is 3.99% (expressed with semi-annual compounding). This incorporates all the information in the Brompton press release describing the terms of the extension (reported on PrefBlog), including the new maturity date, the change of dividend to 0.45 p.a., and the non-standard dividend to be paid in January.
I regret the error. The two Assiduous Readers who brought this to my attention, SM & AC, have had their subscriptions extended by one issue.