Issue Comments

BIP.PR.A To Be Redeemed

Brookfield Infrastructure Partners L.P. has announced:

that it intends to redeem all of its outstanding Cumulative Class A Preferred Limited Partnership Units, Series 1 (the “Series 1 Preferred Units”) (TSX: BIP.PR.A) for cash on June 30, 2025. The redemption price for each Series 1 Preferred Unit will be C$25.00. Holders of Series 1 Preferred Units of record as of May 30, 2025 will receive the previously declared final quarterly distribution of C$0.248375 per Series 1 Preferred Unit.

BIP.PR.A is a FixedReset, 4.50%+356, that commenced trading 2015-3-12 after being announced 2015-3-4. The issue reset to 3.974% effective 2020-7-1 and there was no conversion. It is tracked by HIMIPref™ and is assigned to the FixedResets (Discount) subindex.

Note that the tax treatment of distributions on BIP.PR.A are complex and change annually.

Market Action

May 27, 2025

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 0.4666 % 2,170.8
FixedFloater 0.00 % 0.00 % 0 0.00 0 0.4666 % 4,225.8
Floater 7.10 % 7.50 % 58,247 11.86 3 0.4666 % 2,435.4
OpRet 0.00 % 0.00 % 0 0.00 0 0.4032 % 3,646.4
SplitShare 4.80 % 4.30 % 85,135 2.59 8 0.4032 % 4,354.6
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 0.4032 % 3,397.6
Perpetual-Premium 0.00 % 0.00 % 0 0.00 0 -0.3697 % 2,911.0
Perpetual-Discount 5.91 % 6.04 % 50,336 13.81 33 -0.3697 % 3,174.3
FixedReset Disc 5.58 % 6.33 % 122,248 12.85 50 0.4133 % 2,852.8
Insurance Straight 5.80 % 5.91 % 59,072 13.98 21 1.0591 % 3,120.8
FloatingReset 5.60 % 5.72 % 34,889 14.22 3 0.0763 % 3,634.0
FixedReset Prem 6.37 % 5.27 % 116,645 3.41 8 0.2208 % 2,603.9
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 0.4133 % 2,916.1
FixedReset Ins Non 5.29 % 5.83 % 60,851 13.99 14 -0.2749 % 2,915.7
Performance Highlights
Issue Index Change Notes
CU.PR.F Perpetual-Discount -15.43 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 19.35
Evaluated at bid price : 19.35
Bid-YTW : 5.85 %
SLF.PR.H FixedReset Ins Non -7.88 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 18.70
Evaluated at bid price : 18.70
Bid-YTW : 6.62 %
PWF.PR.F Perpetual-Discount -3.64 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 21.20
Evaluated at bid price : 21.20
Bid-YTW : 6.27 %
GWO.PR.S Insurance Straight -2.09 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 21.78
Evaluated at bid price : 22.03
Bid-YTW : 6.06 %
ENB.PR.B FixedReset Disc -1.67 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 18.30
Evaluated at bid price : 18.30
Bid-YTW : 7.29 %
GWO.PR.T Insurance Straight -1.38 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 21.45
Evaluated at bid price : 21.45
Bid-YTW : 6.12 %
SLF.PR.C Insurance Straight -1.23 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 20.05
Evaluated at bid price : 20.05
Bid-YTW : 5.65 %
BIP.PR.E FixedReset Disc 1.02 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 23.32
Evaluated at bid price : 24.75
Bid-YTW : 6.16 %
BN.PF.F FixedReset Disc 1.02 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 21.50
Evaluated at bid price : 21.78
Bid-YTW : 6.77 %
NA.PR.C FixedReset Prem 1.06 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2027-11-15
Maturity Price : 25.00
Evaluated at bid price : 26.70
Bid-YTW : 4.23 %
PWF.PF.A Perpetual-Discount 1.07 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 18.95
Evaluated at bid price : 18.95
Bid-YTW : 6.01 %
IFC.PR.K Insurance Straight 1.07 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 22.45
Evaluated at bid price : 22.74
Bid-YTW : 5.86 %
BIP.PR.F FixedReset Disc 1.07 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 23.11
Evaluated at bid price : 24.51
Bid-YTW : 6.15 %
IFC.PR.F Insurance Straight 1.10 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 22.72
Evaluated at bid price : 23.08
Bid-YTW : 5.83 %
PVS.PR.J SplitShare 1.17 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2028-02-29
Maturity Price : 25.00
Evaluated at bid price : 25.05
Bid-YTW : 4.30 %
ENB.PR.H FixedReset Disc 1.25 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 20.25
Evaluated at bid price : 20.25
Bid-YTW : 6.55 %
MFC.PR.K FixedReset Ins Non 1.26 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 22.98
Evaluated at bid price : 24.10
Bid-YTW : 5.53 %
GWO.PR.Y Insurance Straight 1.31 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 19.40
Evaluated at bid price : 19.40
Bid-YTW : 5.91 %
FTS.PR.G FixedReset Disc 1.34 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 22.18
Evaluated at bid price : 22.63
Bid-YTW : 5.83 %
PWF.PR.K Perpetual-Discount 1.37 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 20.73
Evaluated at bid price : 20.73
Bid-YTW : 6.05 %
BN.PR.Z FixedReset Disc 1.80 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 22.26
Evaluated at bid price : 22.65
Bid-YTW : 6.64 %
FTS.PR.K FixedReset Disc 1.90 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 21.40
Evaluated at bid price : 21.40
Bid-YTW : 5.97 %
PWF.PR.P FixedReset Disc 1.97 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 16.60
Evaluated at bid price : 16.60
Bid-YTW : 6.67 %
MFC.PR.B Insurance Straight 2.03 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 20.10
Evaluated at bid price : 20.10
Bid-YTW : 5.80 %
MFC.PR.C Insurance Straight 2.20 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 20.00
Evaluated at bid price : 20.00
Bid-YTW : 5.64 %
PVS.PR.K SplitShare 2.33 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2029-05-31
Maturity Price : 25.00
Evaluated at bid price : 25.00
Bid-YTW : 4.44 %
GWO.PR.L Insurance Straight 2.62 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 23.59
Evaluated at bid price : 23.86
Bid-YTW : 6.02 %
ENB.PF.C FixedReset Disc 2.87 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 19.70
Evaluated at bid price : 19.70
Bid-YTW : 7.07 %
CCS.PR.C Insurance Straight 3.29 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 21.75
Evaluated at bid price : 22.00
Bid-YTW : 5.77 %
GWO.PR.G Insurance Straight 5.42 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 21.92
Evaluated at bid price : 22.16
Bid-YTW : 5.96 %
SLF.PR.E Insurance Straight 7.88 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 20.39
Evaluated at bid price : 20.39
Bid-YTW : 5.62 %
Volume Highlights
Issue Index Shares
Traded		 Notes
BN.PF.G FixedReset Disc 216,400 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 20.88
Evaluated at bid price : 20.88
Bid-YTW : 6.97 %
BN.PF.B FixedReset Disc 193,000 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 21.58
Evaluated at bid price : 21.85
Bid-YTW : 6.64 %
TD.PF.A FixedReset Disc 184,701 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 22.72
Evaluated at bid price : 23.79
Bid-YTW : 5.36 %
TD.PF.I FixedReset Prem 155,239 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2027-10-31
Maturity Price : 25.00
Evaluated at bid price : 25.62
Bid-YTW : 5.44 %
BN.PR.T FixedReset Disc 114,200 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 18.19
Evaluated at bid price : 18.19
Bid-YTW : 7.04 %
BN.PR.R FixedReset Disc 102,400 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 18.45
Evaluated at bid price : 18.45
Bid-YTW : 6.95 %
There were 25 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
See TMX DataLinx: ‘Last’ != ‘Close’ and the posts linked therein for an idea of why these quotes are so horrible.
Issue Index Quote Data and Yield Notes
PWF.PR.P FixedReset Disc Quote: 16.60 – 24.68
Spot Rate : 8.0800
Average : 4.3407

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 16.60
Evaluated at bid price : 16.60
Bid-YTW : 6.67 %
CU.PR.F Perpetual-Discount Quote: 19.35 – 23.88
Spot Rate : 4.5300
Average : 3.2220

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 19.35
Evaluated at bid price : 19.35
Bid-YTW : 5.85 %
PWF.PF.A Perpetual-Discount Quote: 18.95 – 20.43
Spot Rate : 1.4800
Average : 0.9495

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 18.95
Evaluated at bid price : 18.95
Bid-YTW : 6.01 %
SLF.PR.G FixedReset Ins Non Quote: 17.22 – 18.60
Spot Rate : 1.3800
Average : 0.9309

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 17.22
Evaluated at bid price : 17.22
Bid-YTW : 6.33 %
TD.PF.D FixedReset Disc Quote: 24.83 – 25.83
Spot Rate : 1.0000
Average : 0.6132

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 23.91
Evaluated at bid price : 24.83
Bid-YTW : 5.72 %
PWF.PR.F Perpetual-Discount Quote: 21.20 – 22.25
Spot Rate : 1.0500
Average : 0.6876

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-27
Maturity Price : 21.20
Evaluated at bid price : 21.20
Bid-YTW : 6.27 %
Market Action

May 26, 2025

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 0.3858 % 2,160.7
FixedFloater 0.00 % 0.00 % 0 0.00 0 0.3858 % 4,206.2
Floater 7.13 % 7.50 % 59,108 11.87 3 0.3858 % 2,424.0
OpRet 0.00 % 0.00 % 0 0.00 0 0.1496 % 3,631.7
SplitShare 4.82 % 3.65 % 59,714 0.75 8 0.1496 % 4,337.1
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 0.1496 % 3,384.0
Perpetual-Premium 0.00 % 0.00 % 0 0.00 0 0.0612 % 2,921.8
Perpetual-Discount 5.88 % 6.05 % 49,163 13.81 33 0.0612 % 3,186.1
FixedReset Disc 5.60 % 6.36 % 120,123 12.89 50 0.2856 % 2,841.0
Insurance Straight 5.86 % 5.96 % 59,239 13.88 21 -0.1873 % 3,088.1
FloatingReset 5.60 % 5.71 % 33,406 14.24 3 0.3063 % 3,631.3
FixedReset Prem 6.39 % 5.49 % 117,640 3.41 8 0.3034 % 2,598.2
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 0.2856 % 2,904.1
FixedReset Ins Non 5.27 % 5.87 % 60,691 14.02 14 1.0182 % 2,923.8
Performance Highlights
Issue Index Change Notes
GWO.PR.G Insurance Straight -4.97 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-26
Maturity Price : 21.02
Evaluated at bid price : 21.02
Bid-YTW : 6.30 %
SLF.PR.D Insurance Straight -3.43 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-26
Maturity Price : 19.45
Evaluated at bid price : 19.45
Bid-YTW : 5.82 %
GWO.PR.L Insurance Straight -2.72 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-26
Maturity Price : 22.98
Evaluated at bid price : 23.25
Bid-YTW : 6.18 %
ENB.PF.C FixedReset Disc -1.90 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-26
Maturity Price : 19.15
Evaluated at bid price : 19.15
Bid-YTW : 7.27 %
PWF.PR.K Perpetual-Discount -1.30 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-26
Maturity Price : 20.45
Evaluated at bid price : 20.45
Bid-YTW : 6.13 %
MFC.PR.B Insurance Straight -1.30 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-26
Maturity Price : 19.70
Evaluated at bid price : 19.70
Bid-YTW : 5.92 %
IFC.PR.I Insurance Straight -1.29 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-26
Maturity Price : 22.60
Evaluated at bid price : 23.00
Bid-YTW : 5.96 %
BN.PR.Z FixedReset Disc -1.16 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-26
Maturity Price : 21.97
Evaluated at bid price : 22.25
Bid-YTW : 6.76 %
IFC.PR.E Insurance Straight -1.08 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-26
Maturity Price : 22.35
Evaluated at bid price : 22.80
Bid-YTW : 5.78 %
PWF.PF.A Perpetual-Discount -1.06 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-26
Maturity Price : 18.75
Evaluated at bid price : 18.75
Bid-YTW : 6.08 %
POW.PR.C Perpetual-Discount 1.05 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-26
Maturity Price : 23.91
Evaluated at bid price : 24.15
Bid-YTW : 6.09 %
ENB.PR.T FixedReset Disc 1.08 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-26
Maturity Price : 20.64
Evaluated at bid price : 20.64
Bid-YTW : 6.90 %
BN.PR.K Floater 1.20 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-26
Maturity Price : 11.80
Evaluated at bid price : 11.80
Bid-YTW : 7.50 %
FTS.PR.M FixedReset Disc 1.32 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-26
Maturity Price : 21.44
Evaluated at bid price : 21.44
Bid-YTW : 6.36 %
MFC.PR.F FixedReset Ins Non 1.35 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-26
Maturity Price : 16.50
Evaluated at bid price : 16.50
Bid-YTW : 6.35 %
BN.PF.E FixedReset Disc 1.74 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-26
Maturity Price : 19.25
Evaluated at bid price : 19.25
Bid-YTW : 7.12 %
SLF.PR.C Insurance Straight 1.75 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-26
Maturity Price : 20.30
Evaluated at bid price : 20.30
Bid-YTW : 5.58 %
GWO.PR.H Insurance Straight 2.41 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-26
Maturity Price : 20.84
Evaluated at bid price : 20.84
Bid-YTW : 5.92 %
IFC.PR.K Insurance Straight 3.21 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-26
Maturity Price : 22.17
Evaluated at bid price : 22.50
Bid-YTW : 5.92 %
BN.PF.B FixedReset Disc 3.57 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-26
Maturity Price : 21.42
Evaluated at bid price : 21.75
Bid-YTW : 6.67 %
IFC.PR.F Insurance Straight 3.77 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-26
Maturity Price : 22.57
Evaluated at bid price : 22.83
Bid-YTW : 5.89 %
MFC.PR.L FixedReset Ins Non 5.95 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-26
Maturity Price : 21.86
Evaluated at bid price : 22.25
Bid-YTW : 5.89 %
MFC.PR.M FixedReset Ins Non 7.33 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-26
Maturity Price : 22.12
Evaluated at bid price : 22.70
Bid-YTW : 5.87 %
Volume Highlights
Issue Index Shares
Traded		 Notes
SLF.PR.D Insurance Straight 143,000 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-26
Maturity Price : 19.45
Evaluated at bid price : 19.45
Bid-YTW : 5.82 %
ENB.PR.T FixedReset Disc 122,000 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-26
Maturity Price : 20.64
Evaluated at bid price : 20.64
Bid-YTW : 6.90 %
FTS.PR.G FixedReset Disc 114,000 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-26
Maturity Price : 21.97
Evaluated at bid price : 22.33
Bid-YTW : 5.91 %
BN.PF.B FixedReset Disc 113,000 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-26
Maturity Price : 21.42
Evaluated at bid price : 21.75
Bid-YTW : 6.67 %
MFC.PR.I FixedReset Ins Non 105,000 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-26
Maturity Price : 23.29
Evaluated at bid price : 24.45
Bid-YTW : 5.89 %
PWF.PR.L Perpetual-Discount 102,000 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-26
Maturity Price : 21.10
Evaluated at bid price : 21.10
Bid-YTW : 6.12 %
GWO.PR.H Insurance Straight 101,000 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-26
Maturity Price : 20.84
Evaluated at bid price : 20.84
Bid-YTW : 5.92 %
There were 26 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
See TMX DataLinx: ‘Last’ != ‘Close’ and the posts linked therein for an idea of why these quotes are so horrible.
Issue Index Quote Data and Yield Notes
BN.PF.G FixedReset Disc Quote: 20.75 – 23.95
Spot Rate : 3.2000
Average : 1.7348

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-26
Maturity Price : 20.75
Evaluated at bid price : 20.75
Bid-YTW : 7.01 %
NA.PR.C FixedReset Prem Quote: 26.42 – 27.42
Spot Rate : 1.0000
Average : 0.5739

YTW SCENARIO
Maturity Type : Call
Maturity Date : 2027-11-15
Maturity Price : 25.00
Evaluated at bid price : 26.42
Bid-YTW : 4.69 %
GWO.PR.G Insurance Straight Quote: 21.02 – 22.25
Spot Rate : 1.2300
Average : 0.8089

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-26
Maturity Price : 21.02
Evaluated at bid price : 21.02
Bid-YTW : 6.30 %
MFC.PR.C Insurance Straight Quote: 19.57 – 20.55
Spot Rate : 0.9800
Average : 0.6094

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-26
Maturity Price : 19.57
Evaluated at bid price : 19.57
Bid-YTW : 5.76 %
SLF.PR.E Insurance Straight Quote: 18.90 – 21.20
Spot Rate : 2.3000
Average : 1.9515

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-26
Maturity Price : 18.90
Evaluated at bid price : 18.90
Bid-YTW : 6.06 %
GWO.PR.L Insurance Straight Quote: 23.25 – 24.10
Spot Rate : 0.8500
Average : 0.5393

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-26
Maturity Price : 22.98
Evaluated at bid price : 23.25
Bid-YTW : 6.18 %
Market Action

May 23, 2025

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 -0.1376 % 2,152.4
FixedFloater 0.00 % 0.00 % 0 0.00 0 -0.1376 % 4,190.0
Floater 7.16 % 7.53 % 57,756 11.84 3 -0.1376 % 2,414.7
OpRet 0.00 % 0.00 % 0 0.00 0 -0.8502 % 3,626.3
SplitShare 4.82 % 3.93 % 60,101 0.75 8 -0.8502 % 4,330.6
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 -0.8502 % 3,378.9
Perpetual-Premium 0.00 % 0.00 % 0 0.00 0 0.5256 % 2,920.0
Perpetual-Discount 5.89 % 6.04 % 49,017 13.83 33 0.5256 % 3,184.1
FixedReset Disc 5.56 % 6.42 % 118,482 12.91 51 0.2811 % 2,832.9
Insurance Straight 5.85 % 5.98 % 60,154 13.86 21 -0.3113 % 3,093.9
FloatingReset 5.63 % 5.76 % 32,595 14.18 3 -0.0153 % 3,620.2
FixedReset Prem 6.41 % 5.47 % 118,435 3.41 8 0.2607 % 2,590.3
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 0.2811 % 2,895.8
FixedReset Ins Non 5.33 % 5.86 % 61,400 14.06 14 0.6757 % 2,894.3
Performance Highlights
Issue Index Change Notes
SLF.PR.E Insurance Straight -7.58 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 18.90
Evaluated at bid price : 18.90
Bid-YTW : 6.06 %
CCS.PR.C Insurance Straight -2.29 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 21.30
Evaluated at bid price : 21.30
Bid-YTW : 5.97 %
PVS.PR.K SplitShare -2.28 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2029-05-31
Maturity Price : 25.00
Evaluated at bid price : 24.43
Bid-YTW : 5.06 %
BN.PF.E FixedReset Disc -1.97 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 18.92
Evaluated at bid price : 18.92
Bid-YTW : 7.21 %
PVS.PR.J SplitShare -1.75 % YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2028-02-29
Maturity Price : 25.00
Evaluated at bid price : 24.65
Bid-YTW : 4.90 %
GWO.PR.H Insurance Straight -1.64 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 20.35
Evaluated at bid price : 20.35
Bid-YTW : 6.07 %
CU.PR.C FixedReset Disc -1.44 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 20.57
Evaluated at bid price : 20.57
Bid-YTW : 6.44 %
PWF.PR.S Perpetual-Discount -1.09 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 20.04
Evaluated at bid price : 20.04
Bid-YTW : 6.06 %
MFC.PR.C Insurance Straight -1.06 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 19.55
Evaluated at bid price : 19.55
Bid-YTW : 5.77 %
ENB.PR.P FixedReset Disc 1.12 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 19.87
Evaluated at bid price : 19.87
Bid-YTW : 6.99 %
ENB.PF.G FixedReset Disc 1.13 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 19.62
Evaluated at bid price : 19.62
Bid-YTW : 7.07 %
ENB.PR.F FixedReset Disc 1.16 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 19.23
Evaluated at bid price : 19.23
Bid-YTW : 7.10 %
PWF.PR.P FixedReset Disc 1.25 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 16.21
Evaluated at bid price : 16.21
Bid-YTW : 6.78 %
ENB.PR.B FixedReset Disc 1.25 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 18.63
Evaluated at bid price : 18.63
Bid-YTW : 7.12 %
POW.PR.G Perpetual-Discount 1.30 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 23.09
Evaluated at bid price : 23.35
Bid-YTW : 6.07 %
IFC.PR.I Insurance Straight 1.30 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 22.86
Evaluated at bid price : 23.30
Bid-YTW : 5.87 %
ENB.PF.K FixedReset Disc 1.39 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 23.03
Evaluated at bid price : 24.05
Bid-YTW : 6.31 %
FTS.PR.K FixedReset Disc 1.45 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 20.95
Evaluated at bid price : 20.95
Bid-YTW : 6.07 %
ENB.PR.N FixedReset Disc 1.75 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 21.77
Evaluated at bid price : 22.08
Bid-YTW : 6.60 %
TD.PF.I FixedReset Prem 1.79 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2027-10-31
Maturity Price : 25.00
Evaluated at bid price : 25.55
Bid-YTW : 5.54 %
MFC.PR.J FixedReset Ins Non 1.82 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 23.28
Evaluated at bid price : 24.65
Bid-YTW : 5.62 %
GWO.PR.I Insurance Straight 2.89 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 19.55
Evaluated at bid price : 19.55
Bid-YTW : 5.85 %
MFC.PR.I FixedReset Ins Non 5.62 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 23.28
Evaluated at bid price : 24.43
Bid-YTW : 5.86 %
CU.PR.F Perpetual-Discount 17.33 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 22.63
Evaluated at bid price : 22.88
Bid-YTW : 4.92 %
Volume Highlights
Issue Index Shares
Traded		 Notes
ENB.PF.G FixedReset Disc 118,000 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 19.62
Evaluated at bid price : 19.62
Bid-YTW : 7.07 %
ENB.PF.A FixedReset Disc 99,100 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 19.85
Evaluated at bid price : 19.85
Bid-YTW : 7.08 %
BN.PF.G FixedReset Disc 91,200 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 20.80
Evaluated at bid price : 20.80
Bid-YTW : 6.95 %
ENB.PR.Y FixedReset Disc 54,000 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 18.72
Evaluated at bid price : 18.72
Bid-YTW : 7.08 %
CU.PR.C FixedReset Disc 53,900 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 20.57
Evaluated at bid price : 20.57
Bid-YTW : 6.44 %
ENB.PF.C FixedReset Disc 47,300 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 19.52
Evaluated at bid price : 19.52
Bid-YTW : 7.10 %
There were 13 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
See TMX DataLinx: ‘Last’ != ‘Close’ and the posts linked therein for an idea of why these quotes are so horrible.
Issue Index Quote Data and Yield Notes
FTS.PR.K FixedReset Disc Quote: 20.95 – 22.84
Spot Rate : 1.8900
Average : 1.0976

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 20.95
Evaluated at bid price : 20.95
Bid-YTW : 6.07 %
SLF.PR.E Insurance Straight Quote: 18.90 – 21.20
Spot Rate : 2.3000
Average : 1.5694

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 18.90
Evaluated at bid price : 18.90
Bid-YTW : 6.06 %
MFC.PR.M FixedReset Ins Non Quote: 21.15 – 22.98
Spot Rate : 1.8300
Average : 1.4668

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 21.15
Evaluated at bid price : 21.15
Bid-YTW : 6.31 %
SLF.PR.C Insurance Straight Quote: 19.95 – 21.45
Spot Rate : 1.5000
Average : 1.1372

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 19.95
Evaluated at bid price : 19.95
Bid-YTW : 5.67 %
IFC.PR.C FixedReset Ins Non Quote: 23.12 – 24.12
Spot Rate : 1.0000
Average : 0.6523

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-23
Maturity Price : 22.67
Evaluated at bid price : 23.12
Bid-YTW : 5.84 %
PVS.PR.K SplitShare Quote: 24.43 – 25.65
Spot Rate : 1.2200
Average : 0.9099

YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2029-05-31
Maturity Price : 25.00
Evaluated at bid price : 24.43
Bid-YTW : 5.06 %
Market Action

May 22, 2025

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 -0.2744 % 2,155.4
FixedFloater 0.00 % 0.00 % 0 0.00 0 -0.2744 % 4,195.8
Floater 7.15 % 7.53 % 59,752 11.84 3 -0.2744 % 2,418.1
OpRet 0.00 % 0.00 % 0 0.00 0 -0.1530 % 3,657.4
SplitShare 4.78 % 3.28 % 59,741 0.76 8 -0.1530 % 4,367.7
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 -0.1530 % 3,407.9
Perpetual-Premium 0.00 % 0.00 % 0 0.00 0 0.8459 % 2,904.7
Perpetual-Discount 5.92 % 6.04 % 49,405 13.85 33 0.8459 % 3,167.5
FixedReset Disc 5.58 % 6.41 % 109,666 12.94 51 0.1811 % 2,825.0
Insurance Straight 5.83 % 5.98 % 60,986 13.85 21 0.3189 % 3,103.5
FloatingReset 5.63 % 5.75 % 32,031 14.18 3 -0.0459 % 3,620.7
FixedReset Prem 6.42 % 5.53 % 118,310 13.64 8 -0.2168 % 2,583.6
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 0.1811 % 2,887.7
FixedReset Ins Non 5.36 % 5.99 % 61,826 14.06 14 -0.7499 % 2,874.9
Performance Highlights
Issue Index Change Notes
MFC.PR.M FixedReset Ins Non -5.37 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-22
Maturity Price : 21.15
Evaluated at bid price : 21.15
Bid-YTW : 6.31 %
MFC.PR.I FixedReset Ins Non -5.01 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-22
Maturity Price : 22.61
Evaluated at bid price : 23.13
Bid-YTW : 6.23 %
BN.PF.B FixedReset Disc -3.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-22
Maturity Price : 21.00
Evaluated at bid price : 21.00
Bid-YTW : 6.90 %
GWO.PR.I Insurance Straight -1.81 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-22
Maturity Price : 19.00
Evaluated at bid price : 19.00
Bid-YTW : 6.03 %
SLF.PR.C Insurance Straight -1.58 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-22
Maturity Price : 19.95
Evaluated at bid price : 19.95
Bid-YTW : 5.67 %
TD.PF.I FixedReset Prem -1.57 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-22
Maturity Price : 23.52
Evaluated at bid price : 25.10
Bid-YTW : 5.92 %
MFC.PR.J FixedReset Ins Non -1.38 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-22
Maturity Price : 23.10
Evaluated at bid price : 24.21
Bid-YTW : 5.74 %
PWF.PR.A Floater -1.30 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-22
Maturity Price : 12.88
Evaluated at bid price : 12.88
Bid-YTW : 6.79 %
SLF.PR.D Insurance Straight -1.23 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-22
Maturity Price : 20.00
Evaluated at bid price : 20.00
Bid-YTW : 5.66 %
CU.PR.F Perpetual-Discount 1.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-22
Maturity Price : 19.50
Evaluated at bid price : 19.50
Bid-YTW : 5.80 %
MFC.PR.C Insurance Straight 1.07 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-22
Maturity Price : 19.76
Evaluated at bid price : 19.76
Bid-YTW : 5.70 %
IFC.PR.E Insurance Straight 1.10 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-22
Maturity Price : 22.73
Evaluated at bid price : 23.05
Bid-YTW : 5.72 %
PVS.PR.G SplitShare 1.22 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2025-06-21
Maturity Price : 25.00
Evaluated at bid price : 25.20
Bid-YTW : -7.28 %
SLF.PR.H FixedReset Ins Non 1.25 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-22
Maturity Price : 20.25
Evaluated at bid price : 20.25
Bid-YTW : 6.08 %
CU.PR.J Perpetual-Discount 1.27 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-22
Maturity Price : 20.00
Evaluated at bid price : 20.00
Bid-YTW : 5.97 %
PVS.PR.H SplitShare 1.44 % YTW SCENARIO
Maturity Type : Call
Maturity Date : 2026-02-28
Maturity Price : 25.00
Evaluated at bid price : 25.22
Bid-YTW : 3.28 %
GWO.PR.N FixedReset Ins Non 1.46 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-22
Maturity Price : 15.98
Evaluated at bid price : 15.98
Bid-YTW : 6.45 %
ENB.PR.N FixedReset Disc 1.73 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-22
Maturity Price : 21.38
Evaluated at bid price : 21.70
Bid-YTW : 6.72 %
FTS.PR.H FixedReset Disc 1.85 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-22
Maturity Price : 16.50
Evaluated at bid price : 16.50
Bid-YTW : 6.60 %
CCS.PR.C Insurance Straight 2.35 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-22
Maturity Price : 21.54
Evaluated at bid price : 21.80
Bid-YTW : 5.82 %
ENB.PF.K FixedReset Disc 4.26 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-22
Maturity Price : 22.87
Evaluated at bid price : 23.72
Bid-YTW : 6.41 %
BN.PF.E FixedReset Disc 4.61 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-22
Maturity Price : 19.30
Evaluated at bid price : 19.30
Bid-YTW : 7.07 %
GWO.PR.G Insurance Straight 4.85 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-22
Maturity Price : 21.80
Evaluated at bid price : 22.04
Bid-YTW : 5.99 %
PWF.PR.L Perpetual-Discount 5.59 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-22
Maturity Price : 20.96
Evaluated at bid price : 20.96
Bid-YTW : 6.16 %
POW.PR.G Perpetual-Discount 9.76 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-22
Maturity Price : 22.77
Evaluated at bid price : 23.05
Bid-YTW : 6.15 %
BN.PF.D Perpetual-Discount 11.01 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-22
Maturity Price : 19.87
Evaluated at bid price : 19.87
Bid-YTW : 6.28 %
Volume Highlights
Issue Index Shares
Traded		 Notes
BN.PF.G FixedReset Disc 232,231 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-22
Maturity Price : 20.70
Evaluated at bid price : 20.70
Bid-YTW : 6.99 %
PWF.PR.P FixedReset Disc 176,052 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-22
Maturity Price : 16.01
Evaluated at bid price : 16.01
Bid-YTW : 6.87 %
MFC.PR.K FixedReset Ins Non 102,790 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-22
Maturity Price : 22.84
Evaluated at bid price : 23.80
Bid-YTW : 5.58 %
BN.PF.J FixedReset Disc 97,842 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-22
Maturity Price : 23.21
Evaluated at bid price : 24.38
Bid-YTW : 6.23 %
BN.PF.A FixedReset Disc 85,426 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-22
Maturity Price : 22.86
Evaluated at bid price : 23.86
Bid-YTW : 6.36 %
ENB.PR.N FixedReset Disc 80,684 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-22
Maturity Price : 21.38
Evaluated at bid price : 21.70
Bid-YTW : 6.72 %
There were 13 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
See TMX DataLinx: ‘Last’ != ‘Close’ and the posts linked therein for an idea of why these quotes are so horrible.
Issue Index Quote Data and Yield Notes
MFC.PR.I FixedReset Ins Non Quote: 23.13 – 25.00
Spot Rate : 1.8700
Average : 1.0706

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-22
Maturity Price : 22.61
Evaluated at bid price : 23.13
Bid-YTW : 6.23 %
MFC.PR.M FixedReset Ins Non Quote: 21.15 – 22.73
Spot Rate : 1.5800
Average : 1.0686

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-22
Maturity Price : 21.15
Evaluated at bid price : 21.15
Bid-YTW : 6.31 %
POW.PR.B Perpetual-Discount Quote: 22.60 – 24.95
Spot Rate : 2.3500
Average : 1.8779

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-22
Maturity Price : 22.33
Evaluated at bid price : 22.60
Bid-YTW : 5.99 %
SLF.PR.E Insurance Straight Quote: 20.45 – 21.55
Spot Rate : 1.1000
Average : 0.7684

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-22
Maturity Price : 20.45
Evaluated at bid price : 20.45
Bid-YTW : 5.59 %
IFC.PR.I Insurance Straight Quote: 23.00 – 24.13
Spot Rate : 1.1300
Average : 0.8782

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-22
Maturity Price : 22.60
Evaluated at bid price : 23.00
Bid-YTW : 5.95 %
BIP.PR.F FixedReset Disc Quote: 24.09 – 25.50
Spot Rate : 1.4100
Average : 1.1589

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-22
Maturity Price : 22.94
Evaluated at bid price : 24.09
Bid-YTW : 6.24 %
Market Action

May 21, 2025

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 -0.5730 % 2,161.3
FixedFloater 0.00 % 0.00 % 0 0.00 0 -0.5730 % 4,207.3
Floater 7.13 % 7.55 % 59,876 11.83 3 -0.5730 % 2,424.7
OpRet 0.00 % 0.00 % 0 0.00 0 -0.3737 % 3,663.0
SplitShare 4.77 % 4.94 % 75,593 2.58 8 -0.3737 % 4,374.4
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 -0.3737 % 3,413.1
Perpetual-Premium 0.00 % 0.00 % 0 0.00 0 -1.1442 % 2,880.4
Perpetual-Discount 5.97 % 6.04 % 49,759 13.83 33 -1.1442 % 3,140.9
FixedReset Disc 5.59 % 6.49 % 110,732 12.89 51 -0.2817 % 2,819.9
Insurance Straight 5.85 % 5.99 % 61,788 13.86 21 0.2146 % 3,093.7
FloatingReset 5.63 % 5.75 % 32,517 14.19 3 0.2301 % 3,622.4
FixedReset Prem 6.41 % 5.51 % 119,754 13.60 8 -0.1395 % 2,589.2
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 -0.2817 % 2,882.5
FixedReset Ins Non 5.32 % 5.89 % 62,341 14.00 14 -1.1881 % 2,896.6
Performance Highlights
Issue Index Change Notes
POW.PR.G Perpetual-Discount -10.94 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-21
Maturity Price : 21.00
Evaluated at bid price : 21.00
Bid-YTW : 6.77 %
BN.PF.D Perpetual-Discount -10.63 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-21
Maturity Price : 17.90
Evaluated at bid price : 17.90
Bid-YTW : 6.98 %
PWF.PR.L Perpetual-Discount -7.24 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-21
Maturity Price : 19.85
Evaluated at bid price : 19.85
Bid-YTW : 6.50 %
MFC.PR.L FixedReset Ins Non -6.15 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-21
Maturity Price : 21.00
Evaluated at bid price : 21.00
Bid-YTW : 6.24 %
GWO.PR.G Insurance Straight -5.53 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-21
Maturity Price : 21.02
Evaluated at bid price : 21.02
Bid-YTW : 6.30 %
ENB.PR.N FixedReset Disc -3.18 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-21
Maturity Price : 21.33
Evaluated at bid price : 21.33
Bid-YTW : 6.85 %
IFC.PR.K Insurance Straight -3.11 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-21
Maturity Price : 21.47
Evaluated at bid price : 21.80
Bid-YTW : 6.11 %
CCS.PR.C Insurance Straight -2.74 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-21
Maturity Price : 21.30
Evaluated at bid price : 21.30
Bid-YTW : 5.97 %
MFC.PR.C Insurance Straight -2.36 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-21
Maturity Price : 19.55
Evaluated at bid price : 19.55
Bid-YTW : 5.76 %
BN.PR.K Floater -2.26 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-21
Maturity Price : 11.67
Evaluated at bid price : 11.67
Bid-YTW : 7.58 %
ENB.PR.J FixedReset Disc -2.12 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-21
Maturity Price : 19.87
Evaluated at bid price : 19.87
Bid-YTW : 7.08 %
MFC.PR.M FixedReset Ins Non -2.09 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-21
Maturity Price : 21.90
Evaluated at bid price : 22.35
Bid-YTW : 5.94 %
POW.PR.C Perpetual-Discount -2.07 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-21
Maturity Price : 23.41
Evaluated at bid price : 23.70
Bid-YTW : 6.20 %
IFC.PR.E Insurance Straight -2.02 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-21
Maturity Price : 22.55
Evaluated at bid price : 22.80
Bid-YTW : 5.78 %
GWO.PR.P Insurance Straight -1.94 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-21
Maturity Price : 22.49
Evaluated at bid price : 22.75
Bid-YTW : 6.02 %
BN.PF.F FixedReset Disc -1.83 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-21
Maturity Price : 21.50
Evaluated at bid price : 21.50
Bid-YTW : 6.84 %
ENB.PR.P FixedReset Disc -1.75 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-21
Maturity Price : 19.61
Evaluated at bid price : 19.61
Bid-YTW : 7.08 %
MFC.PR.B Insurance Straight -1.55 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-21
Maturity Price : 20.04
Evaluated at bid price : 20.04
Bid-YTW : 5.81 %
GWO.PR.Y Insurance Straight -1.55 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-21
Maturity Price : 19.10
Evaluated at bid price : 19.10
Bid-YTW : 5.99 %
PWF.PR.R Perpetual-Discount -1.39 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-21
Maturity Price : 22.44
Evaluated at bid price : 22.70
Bid-YTW : 6.12 %
PWF.PR.O Perpetual-Discount -1.36 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-21
Maturity Price : 23.65
Evaluated at bid price : 23.92
Bid-YTW : 6.12 %
BN.PR.R FixedReset Disc -1.31 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-21
Maturity Price : 18.07
Evaluated at bid price : 18.07
Bid-YTW : 7.05 %
ENB.PR.H FixedReset Disc -1.19 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-21
Maturity Price : 20.00
Evaluated at bid price : 20.00
Bid-YTW : 6.60 %
ENB.PR.A Perpetual-Discount -1.11 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-21
Maturity Price : 22.78
Evaluated at bid price : 23.06
Bid-YTW : 5.98 %
ENB.PF.A FixedReset Disc -1.05 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-21
Maturity Price : 19.78
Evaluated at bid price : 19.78
Bid-YTW : 7.10 %
ENB.PR.F FixedReset Disc -1.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-21
Maturity Price : 19.00
Evaluated at bid price : 19.00
Bid-YTW : 7.18 %
SLF.PR.J FloatingReset 1.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-21
Maturity Price : 17.09
Evaluated at bid price : 17.09
Bid-YTW : 6.01 %
GWO.PR.H Insurance Straight 1.23 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-21
Maturity Price : 20.50
Evaluated at bid price : 20.50
Bid-YTW : 6.02 %
SLF.PR.D Insurance Straight 1.25 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-21
Maturity Price : 20.25
Evaluated at bid price : 20.25
Bid-YTW : 5.59 %
GWO.PR.I Insurance Straight 1.31 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-21
Maturity Price : 19.35
Evaluated at bid price : 19.35
Bid-YTW : 5.91 %
POW.PR.D Perpetual-Discount 2.38 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-21
Maturity Price : 21.50
Evaluated at bid price : 21.50
Bid-YTW : 5.90 %
IFC.PR.A FixedReset Ins Non 2.72 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-21
Maturity Price : 20.80
Evaluated at bid price : 20.80
Bid-YTW : 5.67 %
SLF.PR.C Insurance Straight 3.37 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-21
Maturity Price : 20.27
Evaluated at bid price : 20.27
Bid-YTW : 5.58 %
CU.PR.J Perpetual-Discount 3.46 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-21
Maturity Price : 19.75
Evaluated at bid price : 19.75
Bid-YTW : 6.04 %
BIP.PR.E FixedReset Disc 3.62 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-21
Maturity Price : 23.15
Evaluated at bid price : 24.35
Bid-YTW : 6.25 %
GWO.PR.T Insurance Straight 27.65 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-21
Maturity Price : 21.38
Evaluated at bid price : 21.70
Bid-YTW : 6.02 %
Volume Highlights
Issue Index Shares
Traded		 Notes
RY.PR.J FixedReset Disc 136,470 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-21
Maturity Price : 23.94
Evaluated at bid price : 24.99
Bid-YTW : 5.60 %
ENB.PR.F FixedReset Disc 132,500 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-21
Maturity Price : 19.00
Evaluated at bid price : 19.00
Bid-YTW : 7.18 %
SLF.PR.G FixedReset Ins Non 126,000 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-21
Maturity Price : 16.97
Evaluated at bid price : 16.97
Bid-YTW : 6.37 %
BN.PF.G FixedReset Disc 103,400 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-21
Maturity Price : 20.75
Evaluated at bid price : 20.75
Bid-YTW : 6.97 %
PWF.PR.T FixedReset Disc 77,800 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-21
Maturity Price : 21.78
Evaluated at bid price : 22.10
Bid-YTW : 6.09 %
BN.PR.R FixedReset Disc 76,900 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-21
Maturity Price : 18.07
Evaluated at bid price : 18.07
Bid-YTW : 7.05 %
There were 14 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
See TMX DataLinx: ‘Last’ != ‘Close’ and the posts linked therein for an idea of why these quotes are so horrible.
Issue Index Quote Data and Yield Notes
POW.PR.G Perpetual-Discount Quote: 21.00 – 23.60
Spot Rate : 2.6000
Average : 1.4352

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-21
Maturity Price : 21.00
Evaluated at bid price : 21.00
Bid-YTW : 6.77 %
BN.PF.D Perpetual-Discount Quote: 17.90 – 20.45
Spot Rate : 2.5500
Average : 1.4869

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-21
Maturity Price : 17.90
Evaluated at bid price : 17.90
Bid-YTW : 6.98 %
POW.PR.B Perpetual-Discount Quote: 22.60 – 24.95
Spot Rate : 2.3500
Average : 1.3602

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-21
Maturity Price : 22.33
Evaluated at bid price : 22.60
Bid-YTW : 5.99 %
PWF.PR.L Perpetual-Discount Quote: 19.85 – 22.00
Spot Rate : 2.1500
Average : 1.2695

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-21
Maturity Price : 19.85
Evaluated at bid price : 19.85
Bid-YTW : 6.50 %
BIP.PR.F FixedReset Disc Quote: 24.09 – 25.50
Spot Rate : 1.4100
Average : 0.8836

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-21
Maturity Price : 22.94
Evaluated at bid price : 24.09
Bid-YTW : 6.24 %
MFC.PR.L FixedReset Ins Non Quote: 21.00 – 22.50
Spot Rate : 1.5000
Average : 1.0111

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-21
Maturity Price : 21.00
Evaluated at bid price : 21.00
Bid-YTW : 6.24 %
Market Action

May 20, 2025

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 0.4385 % 2,173.8
FixedFloater 0.00 % 0.00 % 0 0.00 0 0.4385 % 4,231.6
Floater 7.09 % 7.40 % 61,916 11.99 3 0.4385 % 2,438.7
OpRet 0.00 % 0.00 % 0 0.00 0 0.0837 % 3,676.8
SplitShare 4.76 % 4.38 % 76,113 2.58 8 0.0837 % 4,390.8
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 0.0837 % 3,425.9
Perpetual-Premium 0.00 % 0.00 % 0 0.00 0 -0.0571 % 2,913.7
Perpetual-Discount 5.90 % 6.02 % 50,337 13.86 33 -0.0571 % 3,177.2
FixedReset Disc 5.57 % 6.48 % 114,917 12.89 51 -0.1696 % 2,827.9
Insurance Straight 5.86 % 5.93 % 62,889 13.93 21 -1.0724 % 3,087.1
FloatingReset 5.64 % 5.75 % 32,385 14.20 3 -0.2906 % 3,614.1
FixedReset Prem 6.40 % 5.50 % 121,353 3.43 8 0.0385 % 2,592.8
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 -0.1696 % 2,890.7
FixedReset Ins Non 5.26 % 5.83 % 62,948 13.93 14 0.5580 % 2,931.4
Performance Highlights
Issue Index Change Notes
GWO.PR.T Insurance Straight -22.37 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-20
Maturity Price : 17.00
Evaluated at bid price : 17.00
Bid-YTW : 7.73 %
ENB.PF.K FixedReset Disc -5.62 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-20
Maturity Price : 22.25
Evaluated at bid price : 22.66
Bid-YTW : 6.73 %
BN.PF.E FixedReset Disc -5.38 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-20
Maturity Price : 18.45
Evaluated at bid price : 18.45
Bid-YTW : 7.39 %
BIP.PR.E FixedReset Disc -3.89 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-20
Maturity Price : 22.74
Evaluated at bid price : 23.50
Bid-YTW : 6.50 %
GWO.PR.H Insurance Straight -3.34 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-20
Maturity Price : 20.25
Evaluated at bid price : 20.25
Bid-YTW : 6.09 %
POW.PR.D Perpetual-Discount -2.33 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-20
Maturity Price : 21.00
Evaluated at bid price : 21.00
Bid-YTW : 6.04 %
GWO.PR.S Insurance Straight -2.13 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-20
Maturity Price : 21.78
Evaluated at bid price : 22.03
Bid-YTW : 6.05 %
IFC.PR.I Insurance Straight -2.13 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-20
Maturity Price : 22.60
Evaluated at bid price : 23.00
Bid-YTW : 5.95 %
CU.PR.G Perpetual-Discount -1.86 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-20
Maturity Price : 18.99
Evaluated at bid price : 18.99
Bid-YTW : 5.95 %
BN.PF.C Perpetual-Discount -1.40 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-20
Maturity Price : 19.72
Evaluated at bid price : 19.72
Bid-YTW : 6.26 %
POW.PR.C Perpetual-Discount -1.39 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-20
Maturity Price : 23.95
Evaluated at bid price : 24.20
Bid-YTW : 6.07 %
GWO.PR.M Insurance Straight -1.22 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-20
Maturity Price : 23.95
Evaluated at bid price : 24.20
Bid-YTW : 6.08 %
CU.PR.E Perpetual-Discount -1.02 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-20
Maturity Price : 20.45
Evaluated at bid price : 20.45
Bid-YTW : 6.02 %
BN.PR.K Floater 1.19 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-20
Maturity Price : 11.94
Evaluated at bid price : 11.94
Bid-YTW : 7.40 %
ENB.PR.H FixedReset Disc 1.20 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-20
Maturity Price : 20.24
Evaluated at bid price : 20.24
Bid-YTW : 6.51 %
NA.PR.S FixedReset Disc 1.21 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-20
Maturity Price : 23.25
Evaluated at bid price : 25.00
Bid-YTW : 5.45 %
IFC.PR.G FixedReset Ins Non 1.43 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-20
Maturity Price : 23.27
Evaluated at bid price : 24.75
Bid-YTW : 5.62 %
GWO.PR.I Insurance Straight 1.49 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-20
Maturity Price : 19.10
Evaluated at bid price : 19.10
Bid-YTW : 5.99 %
MFC.PR.C Insurance Straight 1.55 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-20
Maturity Price : 20.31
Evaluated at bid price : 20.31
Bid-YTW : 5.64 %
GWO.PR.Y Insurance Straight 3.19 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-20
Maturity Price : 19.40
Evaluated at bid price : 19.40
Bid-YTW : 5.90 %
SLF.PR.H FixedReset Ins Non 3.90 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-20
Maturity Price : 20.00
Evaluated at bid price : 20.00
Bid-YTW : 6.15 %
IFC.PR.E Insurance Straight 5.29 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-20
Maturity Price : 22.88
Evaluated at bid price : 23.27
Bid-YTW : 5.66 %
ENB.PF.G FixedReset Disc 6.72 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-20
Maturity Price : 19.37
Evaluated at bid price : 19.37
Bid-YTW : 7.15 %
CU.PR.J Perpetual-Discount 8.47 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-20
Maturity Price : 19.09
Evaluated at bid price : 19.09
Bid-YTW : 6.25 %
Volume Highlights
Issue Index Shares
Traded		 Notes
FFH.PR.G FixedReset Disc 41,700 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-20
Maturity Price : 23.37
Evaluated at bid price : 24.22
Bid-YTW : 5.57 %
ENB.PF.K FixedReset Disc 35,700 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-20
Maturity Price : 22.25
Evaluated at bid price : 22.66
Bid-YTW : 6.73 %
MFC.PR.M FixedReset Ins Non 32,200 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-20
Maturity Price : 22.40
Evaluated at bid price : 23.18
Bid-YTW : 5.81 %
GWO.PR.Y Insurance Straight 27,300 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-20
Maturity Price : 19.40
Evaluated at bid price : 19.40
Bid-YTW : 5.90 %
RY.PR.M FixedReset Disc 26,900 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-20
Maturity Price : 24.01
Evaluated at bid price : 24.65
Bid-YTW : 5.49 %
MFC.PR.B Insurance Straight 26,000 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-20
Maturity Price : 20.65
Evaluated at bid price : 20.65
Bid-YTW : 5.74 %
There were 11 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
See TMX DataLinx: ‘Last’ != ‘Close’ and the posts linked therein for an idea of why these quotes are so horrible.
Issue Index Quote Data and Yield Notes
GWO.PR.T Insurance Straight Quote: 17.00 – 22.00
Spot Rate : 5.0000
Average : 2.8090

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-20
Maturity Price : 17.00
Evaluated at bid price : 17.00
Bid-YTW : 7.73 %
BN.PF.E FixedReset Disc Quote: 18.45 – 20.99
Spot Rate : 2.5400
Average : 1.6966

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-20
Maturity Price : 18.45
Evaluated at bid price : 18.45
Bid-YTW : 7.39 %
ENB.PF.K FixedReset Disc Quote: 22.66 – 23.80
Spot Rate : 1.1400
Average : 0.7332

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-20
Maturity Price : 22.25
Evaluated at bid price : 22.66
Bid-YTW : 6.73 %
TD.PF.A FixedReset Disc Quote: 23.70 – 24.80
Spot Rate : 1.1000
Average : 0.7353

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-20
Maturity Price : 22.68
Evaluated at bid price : 23.70
Bid-YTW : 5.35 %
GWO.PR.Y Insurance Straight Quote: 19.40 – 21.00
Spot Rate : 1.6000
Average : 1.2845

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-20
Maturity Price : 19.40
Evaluated at bid price : 19.40
Bid-YTW : 5.90 %
BIP.PR.E FixedReset Disc Quote: 23.50 – 24.45
Spot Rate : 0.9500
Average : 0.6423

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-20
Maturity Price : 22.74
Evaluated at bid price : 23.50
Bid-YTW : 6.50 %
Market Action

May 16, 2025

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 0.3851 % 2,164.3
FixedFloater 0.00 % 0.00 % 0 0.00 0 0.3851 % 4,213.1
Floater 7.12 % 7.49 % 61,114 11.91 3 0.3851 % 2,428.0
OpRet 0.00 % 0.00 % 0 0.00 0 0.1577 % 3,673.7
SplitShare 4.76 % 4.36 % 76,583 2.59 8 0.1577 % 4,387.2
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 0.1577 % 3,423.0
Perpetual-Premium 0.00 % 0.00 % 0 0.00 0 -0.3013 % 2,915.4
Perpetual-Discount 5.90 % 5.98 % 51,686 13.89 33 -0.3013 % 3,179.1
FixedReset Disc 5.56 % 6.31 % 114,060 13.01 51 0.1072 % 2,832.7
Insurance Straight 5.80 % 5.91 % 62,192 13.96 21 0.0265 % 3,120.5
FloatingReset 5.62 % 5.72 % 33,506 14.24 3 0.2761 % 3,624.6
FixedReset Prem 6.40 % 5.37 % 121,410 3.44 8 0.0963 % 2,591.8
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 0.1072 % 2,895.6
FixedReset Ins Non 5.29 % 5.76 % 63,425 13.94 14 0.2171 % 2,915.2
Performance Highlights
Issue Index Change Notes
CU.PR.J Perpetual-Discount -12.44 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-16
Maturity Price : 17.60
Evaluated at bid price : 17.60
Bid-YTW : 6.78 %
ENB.PF.G FixedReset Disc -4.72 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-16
Maturity Price : 18.15
Evaluated at bid price : 18.15
Bid-YTW : 7.48 %
GWO.PR.Y Insurance Straight -3.84 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-16
Maturity Price : 18.80
Evaluated at bid price : 18.80
Bid-YTW : 6.08 %
GWO.PR.I Insurance Straight -3.49 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-16
Maturity Price : 18.82
Evaluated at bid price : 18.82
Bid-YTW : 6.08 %
SLF.PR.H FixedReset Ins Non -2.78 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-16
Maturity Price : 19.25
Evaluated at bid price : 19.25
Bid-YTW : 6.25 %
GWO.PR.N FixedReset Ins Non -1.26 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-16
Maturity Price : 15.62
Evaluated at bid price : 15.62
Bid-YTW : 6.42 %
MFC.PR.C Insurance Straight -1.23 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-16
Maturity Price : 20.00
Evaluated at bid price : 20.00
Bid-YTW : 5.73 %
MFC.PR.Q FixedReset Ins Non -1.19 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-16
Maturity Price : 23.01
Evaluated at bid price : 24.10
Bid-YTW : 5.69 %
NA.PR.S FixedReset Disc -1.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-16
Maturity Price : 23.14
Evaluated at bid price : 24.70
Bid-YTW : 5.43 %
POW.PR.G Perpetual-Discount 1.08 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-16
Maturity Price : 23.20
Evaluated at bid price : 23.50
Bid-YTW : 6.02 %
GWO.PR.P Insurance Straight 1.09 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-16
Maturity Price : 22.93
Evaluated at bid price : 23.20
Bid-YTW : 5.90 %
ENB.PF.A FixedReset Disc 1.15 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-16
Maturity Price : 20.15
Evaluated at bid price : 20.15
Bid-YTW : 6.86 %
MFC.PR.F FixedReset Ins Non 1.23 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-16
Maturity Price : 16.50
Evaluated at bid price : 16.50
Bid-YTW : 6.21 %
ENB.PR.B FixedReset Disc 1.36 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-16
Maturity Price : 18.60
Evaluated at bid price : 18.60
Bid-YTW : 6.99 %
GWO.PR.T Insurance Straight 1.39 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-16
Maturity Price : 21.57
Evaluated at bid price : 21.90
Bid-YTW : 5.96 %
ENB.PR.J FixedReset Disc 1.41 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-16
Maturity Price : 20.15
Evaluated at bid price : 20.15
Bid-YTW : 6.87 %
BN.PF.A FixedReset Disc 1.67 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-16
Maturity Price : 22.81
Evaluated at bid price : 23.76
Bid-YTW : 6.29 %
PWF.PR.A Floater 1.80 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-16
Maturity Price : 12.98
Evaluated at bid price : 12.98
Bid-YTW : 6.73 %
CU.PR.G Perpetual-Discount 1.90 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-16
Maturity Price : 19.35
Evaluated at bid price : 19.35
Bid-YTW : 5.84 %
IFC.PR.I Insurance Straight 2.17 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-16
Maturity Price : 23.03
Evaluated at bid price : 23.50
Bid-YTW : 5.81 %
SLF.PR.G FixedReset Ins Non 2.75 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-16
Maturity Price : 16.80
Evaluated at bid price : 16.80
Bid-YTW : 6.26 %
MFC.PR.L FixedReset Ins Non 3.41 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-16
Maturity Price : 22.18
Evaluated at bid price : 22.75
Bid-YTW : 5.73 %
GWO.PR.R Insurance Straight 3.99 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-16
Maturity Price : 20.61
Evaluated at bid price : 20.61
Bid-YTW : 5.92 %
BN.PF.E FixedReset Disc 5.69 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-16
Maturity Price : 19.50
Evaluated at bid price : 19.50
Bid-YTW : 6.89 %
Volume Highlights
Issue Index Shares
Traded		 Notes
NA.PR.E FixedReset Disc 36,429 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-16
Maturity Price : 23.44
Evaluated at bid price : 25.17
Bid-YTW : 5.34 %
FTS.PR.M FixedReset Disc 32,512 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-16
Maturity Price : 21.16
Evaluated at bid price : 21.16
Bid-YTW : 6.31 %
MFC.PR.M FixedReset Ins Non 30,400 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-16
Maturity Price : 22.33
Evaluated at bid price : 23.05
Bid-YTW : 5.76 %
BIP.PR.A FixedReset Disc 28,600 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-16
Maturity Price : 23.96
Evaluated at bid price : 24.94
Bid-YTW : 6.37 %
GWO.PR.P Insurance Straight 16,455 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-16
Maturity Price : 22.93
Evaluated at bid price : 23.20
Bid-YTW : 5.90 %
ENB.PF.C FixedReset Disc 14,200 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-16
Maturity Price : 19.60
Evaluated at bid price : 19.60
Bid-YTW : 6.96 %
There were 6 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
See TMX DataLinx: ‘Last’ != ‘Close’ and the posts linked therein for an idea of why these quotes are so horrible.
Issue Index Quote Data and Yield Notes
CU.PR.J Perpetual-Discount Quote: 17.60 – 20.33
Spot Rate : 2.7300
Average : 1.6273

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-16
Maturity Price : 17.60
Evaluated at bid price : 17.60
Bid-YTW : 6.78 %
GWO.PR.Y Insurance Straight Quote: 18.80 – 20.25
Spot Rate : 1.4500
Average : 0.9386

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-16
Maturity Price : 18.80
Evaluated at bid price : 18.80
Bid-YTW : 6.08 %
SLF.PR.H FixedReset Ins Non Quote: 19.25 – 20.75
Spot Rate : 1.5000
Average : 1.1194

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-16
Maturity Price : 19.25
Evaluated at bid price : 19.25
Bid-YTW : 6.25 %
BN.PF.I FixedReset Disc Quote: 24.61 – 25.61
Spot Rate : 1.0000
Average : 0.6581

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-16
Maturity Price : 23.47
Evaluated at bid price : 24.61
Bid-YTW : 6.61 %
SLF.PR.G FixedReset Ins Non Quote: 16.80 – 18.60
Spot Rate : 1.8000
Average : 1.4758

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-16
Maturity Price : 16.80
Evaluated at bid price : 16.80
Bid-YTW : 6.26 %
BN.PR.X FixedReset Disc Quote: 17.28 – 24.00
Spot Rate : 6.7200
Average : 6.4115

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-16
Maturity Price : 17.28
Evaluated at bid price : 17.28
Bid-YTW : 6.74 %
Market Action

May 15, 2025

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 0.1377 % 2,156.0
FixedFloater 0.00 % 0.00 % 0 0.00 0 0.1377 % 4,197.0
Floater 7.15 % 7.48 % 61,650 11.91 3 0.1377 % 2,418.7
OpRet 0.00 % 0.00 % 0 0.00 0 -0.0197 % 3,667.9
SplitShare 4.77 % 4.42 % 77,466 2.59 8 -0.0197 % 4,380.3
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 -0.0197 % 3,417.6
Perpetual-Premium 0.00 % 0.00 % 0 0.00 0 -0.0638 % 2,924.2
Perpetual-Discount 5.88 % 5.99 % 52,436 13.89 33 -0.0638 % 3,188.7
FixedReset Disc 5.57 % 6.28 % 115,833 12.96 51 -0.0054 % 2,829.6
Insurance Straight 5.80 % 5.92 % 60,098 13.94 21 0.2661 % 3,119.7
FloatingReset 5.64 % 5.72 % 32,422 14.24 3 0.3695 % 3,614.6
FixedReset Prem 6.41 % 5.37 % 124,714 3.44 8 0.1979 % 2,589.3
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 -0.0054 % 2,892.5
FixedReset Ins Non 5.30 % 5.77 % 65,628 14.03 14 -0.4454 % 2,908.9
Performance Highlights
Issue Index Change Notes
SLF.PR.D Insurance Straight -3.38 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-15
Maturity Price : 20.00
Evaluated at bid price : 20.00
Bid-YTW : 5.65 %
SLF.PR.G FixedReset Ins Non -3.25 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-15
Maturity Price : 16.35
Evaluated at bid price : 16.35
Bid-YTW : 6.43 %
PWF.PR.A Floater -1.54 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-15
Maturity Price : 12.75
Evaluated at bid price : 12.75
Bid-YTW : 6.85 %
IFC.PR.K Insurance Straight -1.54 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-15
Maturity Price : 22.13
Evaluated at bid price : 22.45
Bid-YTW : 5.92 %
IFC.PR.A FixedReset Ins Non -1.32 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-15
Maturity Price : 20.25
Evaluated at bid price : 20.25
Bid-YTW : 5.71 %
POW.PR.G Perpetual-Discount -1.32 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-15
Maturity Price : 22.98
Evaluated at bid price : 23.25
Bid-YTW : 6.09 %
POW.PR.C Perpetual-Discount -1.01 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-15
Maturity Price : 24.22
Evaluated at bid price : 24.48
Bid-YTW : 5.99 %
ENB.PR.J FixedReset Disc -1.01 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-15
Maturity Price : 19.87
Evaluated at bid price : 19.87
Bid-YTW : 6.96 %
SLF.PR.H FixedReset Ins Non -1.00 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-15
Maturity Price : 19.80
Evaluated at bid price : 19.80
Bid-YTW : 6.08 %
MFC.PR.B Insurance Straight 1.23 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-15
Maturity Price : 20.65
Evaluated at bid price : 20.65
Bid-YTW : 5.73 %
SLF.PR.E Insurance Straight 1.28 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-15
Maturity Price : 20.61
Evaluated at bid price : 20.61
Bid-YTW : 5.54 %
BN.PR.B Floater 1.29 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-15
Maturity Price : 11.80
Evaluated at bid price : 11.80
Bid-YTW : 7.48 %
BN.PF.C Perpetual-Discount 1.42 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-15
Maturity Price : 20.00
Evaluated at bid price : 20.00
Bid-YTW : 6.16 %
CU.PR.E Perpetual-Discount 2.28 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-15
Maturity Price : 20.65
Evaluated at bid price : 20.65
Bid-YTW : 5.96 %
GWO.PR.Y Insurance Straight 2.95 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-15
Maturity Price : 19.55
Evaluated at bid price : 19.55
Bid-YTW : 5.85 %
BN.PF.B FixedReset Disc 2.97 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-15
Maturity Price : 21.26
Evaluated at bid price : 21.53
Bid-YTW : 6.60 %
PWF.PR.S Perpetual-Discount 3.15 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-15
Maturity Price : 20.28
Evaluated at bid price : 20.28
Bid-YTW : 5.98 %
ENB.PR.P FixedReset Disc 3.67 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-15
Maturity Price : 19.95
Evaluated at bid price : 19.95
Bid-YTW : 6.85 %
GWO.PR.I Insurance Straight 3.72 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-15
Maturity Price : 19.50
Evaluated at bid price : 19.50
Bid-YTW : 5.86 %
BIP.PR.E FixedReset Disc 4.04 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-15
Maturity Price : 23.19
Evaluated at bid price : 24.45
Bid-YTW : 6.11 %
ENB.PR.F FixedReset Disc 5.60 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-15
Maturity Price : 19.20
Evaluated at bid price : 19.20
Bid-YTW : 6.98 %
ENB.PF.G FixedReset Disc 6.87 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-15
Maturity Price : 19.05
Evaluated at bid price : 19.05
Bid-YTW : 7.12 %
Volume Highlights
Issue Index Shares
Traded		 Notes
RY.PR.J FixedReset Disc 187,000 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2025-06-23
Maturity Price : 25.00
Evaluated at bid price : 24.97
Bid-YTW : 5.43 %
BN.PR.R FixedReset Disc 93,610 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-15
Maturity Price : 18.16
Evaluated at bid price : 18.16
Bid-YTW : 6.87 %
FFH.PR.I FixedReset Disc 89,300 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-15
Maturity Price : 23.44
Evaluated at bid price : 24.12
Bid-YTW : 5.76 %
FFH.PR.K FixedReset Disc 85,962 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2027-03-31
Maturity Price : 25.00
Evaluated at bid price : 24.83
Bid-YTW : 5.83 %
TD.PF.A FixedReset Disc 67,504 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-15
Maturity Price : 22.68
Evaluated at bid price : 23.70
Bid-YTW : 5.26 %
ENB.PR.P FixedReset Disc 66,800 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-15
Maturity Price : 19.95
Evaluated at bid price : 19.95
Bid-YTW : 6.85 %
There were 14 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
See TMX DataLinx: ‘Last’ != ‘Close’ and the posts linked therein for an idea of why these quotes are so horrible.
Issue Index Quote Data and Yield Notes
BN.PR.X FixedReset Disc Quote: 17.22 – 24.00
Spot Rate : 6.7800
Average : 6.0732

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-15
Maturity Price : 17.22
Evaluated at bid price : 17.22
Bid-YTW : 6.76 %
IFC.PR.C FixedReset Ins Non Quote: 22.92 – 23.92
Spot Rate : 1.0000
Average : 0.7150

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-15
Maturity Price : 22.49
Evaluated at bid price : 22.92
Bid-YTW : 5.77 %
IFC.PR.F Insurance Straight Quote: 22.00 – 24.00
Spot Rate : 2.0000
Average : 1.7173

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-15
Maturity Price : 21.63
Evaluated at bid price : 22.00
Bid-YTW : 6.10 %
IFC.PR.K Insurance Straight Quote: 22.45 – 23.25
Spot Rate : 0.8000
Average : 0.5320

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-15
Maturity Price : 22.13
Evaluated at bid price : 22.45
Bid-YTW : 5.92 %
ENB.PF.A FixedReset Disc Quote: 19.92 – 20.74
Spot Rate : 0.8200
Average : 0.5604

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-15
Maturity Price : 19.92
Evaluated at bid price : 19.92
Bid-YTW : 6.94 %
SLF.PR.H FixedReset Ins Non Quote: 19.80 – 20.75
Spot Rate : 0.9500
Average : 0.7021

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-15
Maturity Price : 19.80
Evaluated at bid price : 19.80
Bid-YTW : 6.08 %
Market Action

May 14, 2025

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 1.7377 % 2,153.0
FixedFloater 0.00 % 0.00 % 0 0.00 0 1.7377 % 4,191.2
Floater 7.16 % 7.55 % 62,354 11.84 3 1.7377 % 2,415.4
OpRet 0.00 % 0.00 % 0 0.00 0 0.0592 % 3,668.6
SplitShare 4.77 % 4.53 % 77,106 2.60 8 0.0592 % 4,381.1
Interest-Bearing 0.00 % 0.00 % 0 0.00 0 0.0592 % 3,418.3
Perpetual-Premium 0.00 % 0.00 % 0 0.00 0 -0.1870 % 2,926.0
Perpetual-Discount 5.88 % 5.99 % 52,860 13.90 33 -0.1870 % 3,190.7
FixedReset Disc 5.57 % 6.33 % 107,199 12.95 51 -0.1383 % 2,829.8
Insurance Straight 5.82 % 5.93 % 62,536 13.93 21 -0.7331 % 3,111.4
FloatingReset 5.66 % 5.77 % 31,262 14.17 3 0.3243 % 3,601.3
FixedReset Prem 6.42 % 5.36 % 125,496 3.44 8 -0.2215 % 2,584.2
FixedReset Bank Non 0.00 % 0.00 % 0 0.00 0 -0.1383 % 2,892.6
FixedReset Ins Non 5.28 % 5.75 % 65,382 14.03 14 0.7323 % 2,921.9
Performance Highlights
Issue Index Change Notes
ENB.PF.G FixedReset Disc -7.69 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-14
Maturity Price : 18.00
Evaluated at bid price : 18.00
Bid-YTW : 7.63 %
SLF.PR.C Insurance Straight -5.95 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-14
Maturity Price : 19.61
Evaluated at bid price : 19.61
Bid-YTW : 5.76 %
BN.PF.E FixedReset Disc -5.72 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-14
Maturity Price : 18.45
Evaluated at bid price : 18.45
Bid-YTW : 7.28 %
GWO.PR.I Insurance Straight -4.62 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-14
Maturity Price : 18.80
Evaluated at bid price : 18.80
Bid-YTW : 6.08 %
BN.PF.B FixedReset Disc -3.24 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-14
Maturity Price : 20.91
Evaluated at bid price : 20.91
Bid-YTW : 6.82 %
GWO.PR.Y Insurance Straight -3.01 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-14
Maturity Price : 18.99
Evaluated at bid price : 18.99
Bid-YTW : 6.02 %
ENB.PR.P FixedReset Disc -2.97 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-14
Maturity Price : 19.60
Evaluated at bid price : 19.60
Bid-YTW : 7.13 %
CU.PR.E Perpetual-Discount -2.60 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-14
Maturity Price : 20.19
Evaluated at bid price : 20.19
Bid-YTW : 6.09 %
ENB.PR.F FixedReset Disc -2.58 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-14
Maturity Price : 18.51
Evaluated at bid price : 18.51
Bid-YTW : 7.40 %
GWO.PR.P Insurance Straight -2.36 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-14
Maturity Price : 22.49
Evaluated at bid price : 22.75
Bid-YTW : 6.02 %
MFC.PR.L FixedReset Ins Non -2.22 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-14
Maturity Price : 21.68
Evaluated at bid price : 22.00
Bid-YTW : 5.95 %
BN.PR.M Perpetual-Discount -1.84 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-14
Maturity Price : 19.25
Evaluated at bid price : 19.25
Bid-YTW : 6.27 %
GWO.PR.T Insurance Straight -1.41 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-14
Maturity Price : 21.60
Evaluated at bid price : 21.60
Bid-YTW : 6.06 %
BN.PF.C Perpetual-Discount -1.40 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-14
Maturity Price : 19.72
Evaluated at bid price : 19.72
Bid-YTW : 6.25 %
NA.PR.I FixedReset Prem -1.19 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-14
Maturity Price : 23.25
Evaluated at bid price : 25.00
Bid-YTW : 5.80 %
CU.PR.G Perpetual-Discount -1.15 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-14
Maturity Price : 18.99
Evaluated at bid price : 18.99
Bid-YTW : 5.95 %
BN.PF.A FixedReset Disc -1.14 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-14
Maturity Price : 22.61
Evaluated at bid price : 23.37
Bid-YTW : 6.40 %
CU.PR.H Perpetual-Discount -1.03 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-14
Maturity Price : 21.97
Evaluated at bid price : 22.20
Bid-YTW : 5.92 %
SLF.PR.H FixedReset Ins Non 1.01 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-14
Maturity Price : 20.00
Evaluated at bid price : 20.00
Bid-YTW : 6.02 %
IFC.PR.A FixedReset Ins Non 1.08 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-14
Maturity Price : 20.52
Evaluated at bid price : 20.52
Bid-YTW : 5.63 %
BN.PR.Z FixedReset Disc 1.35 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-14
Maturity Price : 22.12
Evaluated at bid price : 22.45
Bid-YTW : 6.55 %
MFC.PR.Q FixedReset Ins Non 1.41 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-14
Maturity Price : 23.16
Evaluated at bid price : 24.45
Bid-YTW : 5.60 %
FTS.PR.H FixedReset Disc 1.55 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-14
Maturity Price : 16.40
Evaluated at bid price : 16.40
Bid-YTW : 6.51 %
SLF.PR.J FloatingReset 1.57 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-14
Maturity Price : 16.86
Evaluated at bid price : 16.86
Bid-YTW : 6.09 %
FTS.PR.F Perpetual-Discount 1.64 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-14
Maturity Price : 21.38
Evaluated at bid price : 21.65
Bid-YTW : 5.76 %
MFC.PR.M FixedReset Ins Non 1.68 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-14
Maturity Price : 22.33
Evaluated at bid price : 23.05
Bid-YTW : 5.75 %
SLF.PR.E Insurance Straight 1.75 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-14
Maturity Price : 20.35
Evaluated at bid price : 20.35
Bid-YTW : 5.61 %
BN.PF.G FixedReset Disc 1.98 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-14
Maturity Price : 20.60
Evaluated at bid price : 20.60
Bid-YTW : 6.87 %
BN.PF.I FixedReset Disc 2.53 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-14
Maturity Price : 23.33
Evaluated at bid price : 24.30
Bid-YTW : 6.70 %
BN.PF.F FixedReset Disc 2.83 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-14
Maturity Price : 21.52
Evaluated at bid price : 21.80
Bid-YTW : 6.62 %
IFC.PR.C FixedReset Ins Non 2.90 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-14
Maturity Price : 22.66
Evaluated at bid price : 23.10
Bid-YTW : 5.73 %
SLF.PR.G FixedReset Ins Non 3.36 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-14
Maturity Price : 16.90
Evaluated at bid price : 16.90
Bid-YTW : 6.22 %
BN.PR.K Floater 6.36 % YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-14
Maturity Price : 11.70
Evaluated at bid price : 11.70
Bid-YTW : 7.55 %
Volume Highlights
Issue Index Shares
Traded		 Notes
PWF.PR.T FixedReset Disc 154,000 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-14
Maturity Price : 21.79
Evaluated at bid price : 22.12
Bid-YTW : 5.97 %
BN.PF.G FixedReset Disc 91,209 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-14
Maturity Price : 20.60
Evaluated at bid price : 20.60
Bid-YTW : 6.87 %
ENB.PR.T FixedReset Disc 90,100 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-14
Maturity Price : 21.00
Evaluated at bid price : 21.00
Bid-YTW : 6.79 %
CU.PR.C FixedReset Disc 73,400 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-14
Maturity Price : 20.60
Evaluated at bid price : 20.60
Bid-YTW : 6.30 %
RY.PR.J FixedReset Disc 64,100 YTW SCENARIO
Maturity Type : Call
Maturity Date : 2025-06-23
Maturity Price : 25.00
Evaluated at bid price : 24.97
Bid-YTW : 5.29 %
PWF.PR.P FixedReset Disc 54,800 YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-14
Maturity Price : 15.95
Evaluated at bid price : 15.95
Bid-YTW : 6.72 %
There were 12 other index-included issues trading in excess of 10,000 shares.
Wide Spread Highlights
See TMX DataLinx: ‘Last’ != ‘Close’ and the posts linked therein for an idea of why these quotes are so horrible.
Issue Index Quote Data and Yield Notes
BN.PR.X FixedReset Disc Quote: 17.20 – 24.00
Spot Rate : 6.8000
Average : 5.2982

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-14
Maturity Price : 17.20
Evaluated at bid price : 17.20
Bid-YTW : 6.77 %
ENB.PF.G FixedReset Disc Quote: 18.00 – 19.80
Spot Rate : 1.8000
Average : 1.0145

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-14
Maturity Price : 18.00
Evaluated at bid price : 18.00
Bid-YTW : 7.63 %
MFC.PR.F FixedReset Ins Non Quote: 16.35 – 18.50
Spot Rate : 2.1500
Average : 1.7312

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-14
Maturity Price : 16.35
Evaluated at bid price : 16.35
Bid-YTW : 6.26 %
BN.PF.B FixedReset Disc Quote: 20.91 – 21.93
Spot Rate : 1.0200
Average : 0.6310

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-14
Maturity Price : 20.91
Evaluated at bid price : 20.91
Bid-YTW : 6.82 %
GWO.PR.I Insurance Straight Quote: 18.80 – 19.85
Spot Rate : 1.0500
Average : 0.7193

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-14
Maturity Price : 18.80
Evaluated at bid price : 18.80
Bid-YTW : 6.08 %
SLF.PR.C Insurance Straight Quote: 19.61 – 20.93
Spot Rate : 1.3200
Average : 0.9973

YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2055-05-14
Maturity Price : 19.61
Evaluated at bid price : 19.61
Bid-YTW : 5.76 %