And now it’s time for me to prepare PrefLetter!
HIMIPref™ Preferred Indices These values reflect the December 2008 revision of the HIMIPref™ Indices Values are provisional and are finalized monthly |
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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 | 0.6039 % | 1,903.7 |
FixedFloater | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.6039 % | 3,493.2 |
Floater | 4.54 % | 4.58 % | 48,923 | 16.30 | 3 | 0.6039 % | 2,013.2 |
OpRet | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.1836 % | 3,614.9 |
SplitShare | 4.72 % | 4.53 % | 39,313 | 3.77 | 8 | -0.1836 % | 4,316.9 |
Interest-Bearing | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.1836 % | 3,368.2 |
Perpetual-Premium | 5.35 % | -4.06 % | 64,765 | 0.09 | 18 | -0.0804 % | 3,227.1 |
Perpetual-Discount | 5.01 % | 5.04 % | 68,245 | 15.39 | 13 | -0.2372 % | 3,687.6 |
FixedReset Disc | 4.97 % | 3.82 % | 134,370 | 17.46 | 57 | 0.4028 % | 2,364.1 |
Insurance Straight | 5.04 % | 4.79 % | 84,241 | 15.34 | 22 | -0.1630 % | 3,568.5 |
FloatingReset | 2.55 % | 0.80 % | 31,902 | 0.15 | 3 | -0.4394 % | 1,875.3 |
FixedReset Prem | 5.14 % | 3.27 % | 195,064 | 1.02 | 20 | 0.0729 % | 2,692.0 |
FixedReset Bank Non | 1.94 % | 1.78 % | 144,670 | 1.05 | 2 | 0.0000 % | 2,881.4 |
FixedReset Ins Non | 4.88 % | 3.78 % | 86,752 | 17.61 | 22 | 0.2080 % | 2,497.5 |
Performance Highlights | |||
Issue | Index | Change | Notes |
MFC.PR.I | FixedReset Ins Non | -3.45 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2051-01-08 Maturity Price : 21.67 Evaluated at bid price : 22.10 Bid-YTW : 3.83 % |
SLF.PR.J | FloatingReset | -2.04 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2051-01-08 Maturity Price : 11.07 Evaluated at bid price : 11.07 Bid-YTW : 3.34 % |
TRP.PR.B | FixedReset Disc | -1.60 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2051-01-08 Maturity Price : 9.25 Evaluated at bid price : 9.25 Bid-YTW : 4.67 % |
IFC.PR.E | Insurance Straight | -1.55 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2025-06-30 Maturity Price : 25.25 Evaluated at bid price : 25.40 Bid-YTW : 5.06 % |
RS.PR.A | SplitShare | -1.45 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2025-12-31 Maturity Price : 10.00 Evaluated at bid price : 10.16 Bid-YTW : 4.94 % |
MFC.PR.G | FixedReset Ins Non | -1.12 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2051-01-08 Maturity Price : 21.71 Evaluated at bid price : 22.15 Bid-YTW : 3.79 % |
MFC.PR.C | Insurance Straight | -1.03 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2051-01-08 Maturity Price : 23.74 Evaluated at bid price : 24.05 Bid-YTW : 4.70 % |
BIP.PR.E | FixedReset Disc | 1.04 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2051-01-08 Maturity Price : 23.29 Evaluated at bid price : 24.40 Bid-YTW : 5.10 % |
BMO.PR.S | FixedReset Disc | 1.08 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2051-01-08 Maturity Price : 20.60 Evaluated at bid price : 20.60 Bid-YTW : 3.62 % |
MFC.PR.M | FixedReset Ins Non | 1.16 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2051-01-08 Maturity Price : 19.98 Evaluated at bid price : 19.98 Bid-YTW : 3.78 % |
BMO.PR.Y | FixedReset Disc | 1.17 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2051-01-08 Maturity Price : 21.35 Evaluated at bid price : 21.65 Bid-YTW : 3.63 % |
BAM.PR.Z | FixedReset Disc | 1.45 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2051-01-08 Maturity Price : 18.90 Evaluated at bid price : 18.90 Bid-YTW : 4.71 % |
PWF.PR.T | FixedReset Disc | 1.47 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2051-01-08 Maturity Price : 18.60 Evaluated at bid price : 18.60 Bid-YTW : 4.07 % |
SLF.PR.G | FixedReset Ins Non | 1.49 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2051-01-08 Maturity Price : 12.28 Evaluated at bid price : 12.28 Bid-YTW : 3.78 % |
BAM.PF.E | FixedReset Disc | 1.60 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2051-01-08 Maturity Price : 16.50 Evaluated at bid price : 16.50 Bid-YTW : 4.76 % |
BAM.PF.B | FixedReset Disc | 1.61 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2051-01-08 Maturity Price : 17.70 Evaluated at bid price : 17.70 Bid-YTW : 4.71 % |
BAM.PF.A | FixedReset Disc | 1.83 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2051-01-08 Maturity Price : 19.50 Evaluated at bid price : 19.50 Bid-YTW : 4.64 % |
TRP.PR.E | FixedReset Disc | 1.99 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2051-01-08 Maturity Price : 15.35 Evaluated at bid price : 15.35 Bid-YTW : 4.88 % |
NA.PR.E | FixedReset Disc | 2.07 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2051-01-08 Maturity Price : 21.20 Evaluated at bid price : 21.20 Bid-YTW : 3.76 % |
IAF.PR.G | FixedReset Ins Non | 3.25 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2051-01-08 Maturity Price : 21.52 Evaluated at bid price : 21.89 Bid-YTW : 3.79 % |
BAM.PR.T | FixedReset Disc | 5.61 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2051-01-08 Maturity Price : 15.05 Evaluated at bid price : 15.05 Bid-YTW : 4.67 % |
GWO.PR.N | FixedReset Ins Non | 5.95 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2051-01-08 Maturity Price : 11.93 Evaluated at bid price : 11.93 Bid-YTW : 3.67 % |
Volume Highlights | |||
Issue | Index | Shares Traded |
Notes |
BAM.PF.B | FixedReset Disc | 163,800 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2051-01-08 Maturity Price : 17.70 Evaluated at bid price : 17.70 Bid-YTW : 4.71 % |
BMO.PR.S | FixedReset Disc | 114,425 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2051-01-08 Maturity Price : 20.60 Evaluated at bid price : 20.60 Bid-YTW : 3.62 % |
NA.PR.A | FixedReset Prem | 100,077 | YTW SCENARIO Maturity Type : Call Maturity Date : 2021-08-15 Maturity Price : 25.00 Evaluated at bid price : 25.32 Bid-YTW : 2.37 % |
TRP.PR.K | FixedReset Disc | 82,200 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2051-01-08 Maturity Price : 23.75 Evaluated at bid price : 24.95 Bid-YTW : 4.90 % |
BMO.PR.T | FixedReset Disc | 72,153 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2051-01-08 Maturity Price : 19.77 Evaluated at bid price : 19.77 Bid-YTW : 3.65 % |
TD.PF.A | FixedReset Disc | 49,375 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2051-01-08 Maturity Price : 20.41 Evaluated at bid price : 20.41 Bid-YTW : 3.50 % |
There were 18 other index-included issues trading in excess of 10,000 shares. |
Wide Spread Highlights | ||
Issue | Index | Quote Data and Yield Notes |
CU.PR.H | Perpetual-Premium | Quote: 25.60 – 26.60 Spot Rate : 1.0000 Average : 0.6000 YTW SCENARIO |
MFC.PR.I | FixedReset Ins Non | Quote: 22.10 – 22.86 Spot Rate : 0.7600 Average : 0.4970 YTW SCENARIO |
TD.PF.A | FixedReset Disc | Quote: 20.41 – 20.98 Spot Rate : 0.5700 Average : 0.3511 YTW SCENARIO |
MFC.PR.G | FixedReset Ins Non | Quote: 22.15 – 22.90 Spot Rate : 0.7500 Average : 0.5338 YTW SCENARIO |
GWO.PR.I | Insurance Straight | Quote: 23.73 – 24.10 Spot Rate : 0.3700 Average : 0.2386 YTW SCENARIO |
MFC.PR.C | Insurance Straight | Quote: 24.05 – 24.53 Spot Rate : 0.4800 Average : 0.3536 YTW SCENARIO |
BEP.PR.G To Reset at 5.50% (Minimum Guaranteed Rate)
January 6th, 2021Brookfield Renewable Partners L.P. has announced:
BEP.PR.G was issued as a Preferred Units FixedReset 5.50%+447M550, that commenced trading 2015-11-25 after being announced 2015-11-17. It must be remembered that the taxation status of the distributions is complex and – what’s more – can vary wildly from year to year.
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