Amidst all the gloom, it was interesting to see the details of a recent Scotia covered bond issue:
Bank of Nova Scotia (BNS) became the first bank outside Europe to issue a deeply negative yielding covered bond in a good size on Wednesday. The transaction provided a beacon for other issuers and was perfectly timed to benefit from a window of market stability between Monday’s and Thursday’s shocking volatility.
It’s Series CBL26, with details available on the Scotiabank covered bond page. The term sheet specifies:
Specified Currency or Currencies: €, EUR or EURO
…
Issue Price: 101.198% of the Aggregate Nominal Amount
…
Final Maturity Date: 18 March 2025
…
Rate(s) of Interest: 0.01% per annum payable annually in arrears on each Interest Payment Date
…
Indication of yield: -0.228% per annum
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 | -4.2670 % | 1,408.4 |
FixedFloater | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -4.2670 % | 2,584.3 |
Floater | 5.46 % | 5.67 % | 42,377 | 14.41 | 4 | -4.2670 % | 1,489.4 |
OpRet | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.2090 % | 3,262.3 |
SplitShare | 5.09 % | 6.28 % | 86,727 | 3.95 | 7 | -0.2090 % | 3,895.9 |
Interest-Bearing | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.2090 % | 3,039.7 |
Perpetual-Premium | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.2689 % | 2,756.4 |
Perpetual-Discount | 6.08 % | 6.32 % | 90,181 | 13.47 | 35 | 0.2689 % | 2,956.6 |
FixedReset Disc | 6.67 % | 5.75 % | 199,915 | 13.99 | 83 | 0.1867 % | 1,699.9 |
Deemed-Retractible | 5.81 % | 6.18 % | 102,168 | 13.46 | 27 | -0.3886 % | 2,907.9 |
FloatingReset | 3.22 % | 4.78 % | 31,613 | 14.44 | 4 | -1.2768 % | 1,694.6 |
FixedReset Prem | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.1867 % | 2,350.9 |
FixedReset Bank Non | 1.97 % | 4.88 % | 113,178 | 1.75 | 3 | -0.4003 % | 2,704.0 |
FixedReset Ins Non | 7.07 % | 6.13 % | 125,076 | 13.43 | 22 | 0.7310 % | 1,680.3 |
Performance Highlights | |||
Issue | Index | Change | Notes |
TRP.PR.G | FixedReset Disc | -11.07 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-13 Maturity Price : 12.45 Evaluated at bid price : 12.45 Bid-YTW : 7.28 % |
TRP.PR.H | FloatingReset | -10.23 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-13 Maturity Price : 7.72 Evaluated at bid price : 7.72 Bid-YTW : 4.96 % |
BAM.PR.K | Floater | -6.00 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-13 Maturity Price : 7.52 Evaluated at bid price : 7.52 Bid-YTW : 5.75 % |
HSE.PR.E | FixedReset Disc | -5.61 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-13 Maturity Price : 9.25 Evaluated at bid price : 9.25 Bid-YTW : 11.99 % |
BAM.PR.C | Floater | -4.67 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-13 Maturity Price : 7.56 Evaluated at bid price : 7.56 Bid-YTW : 5.72 % |
BAM.PR.B | Floater | -4.51 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-13 Maturity Price : 7.63 Evaluated at bid price : 7.63 Bid-YTW : 5.67 % |
BAM.PR.Z | FixedReset Disc | -4.26 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-13 Maturity Price : 14.60 Evaluated at bid price : 14.60 Bid-YTW : 6.47 % |
TRP.PR.B | FixedReset Disc | -3.96 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-13 Maturity Price : 8.25 Evaluated at bid price : 8.25 Bid-YTW : 5.69 % |
MFC.PR.C | Deemed-Retractible | -3.23 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-13 Maturity Price : 18.00 Evaluated at bid price : 18.00 Bid-YTW : 6.33 % |
GWO.PR.N | FixedReset Ins Non | -3.20 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-13 Maturity Price : 8.76 Evaluated at bid price : 8.76 Bid-YTW : 5.44 % |
BIP.PR.E | FixedReset Disc | -3.10 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-13 Maturity Price : 19.40 Evaluated at bid price : 19.40 Bid-YTW : 6.51 % |
SLF.PR.G | FixedReset Ins Non | -2.87 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-13 Maturity Price : 8.80 Evaluated at bid price : 8.80 Bid-YTW : 5.71 % |
TRP.PR.A | FixedReset Disc | -2.77 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-13 Maturity Price : 11.60 Evaluated at bid price : 11.60 Bid-YTW : 6.04 % |
TRP.PR.C | FixedReset Disc | -2.71 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-13 Maturity Price : 8.60 Evaluated at bid price : 8.60 Bid-YTW : 6.21 % |
BIP.PR.D | FixedReset Disc | -2.50 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-13 Maturity Price : 19.50 Evaluated at bid price : 19.50 Bid-YTW : 6.48 % |
IFC.PR.A | FixedReset Ins Non | -2.48 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-13 Maturity Price : 10.24 Evaluated at bid price : 10.24 Bid-YTW : 6.13 % |
BIP.PR.F | FixedReset Disc | -2.39 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-13 Maturity Price : 20.01 Evaluated at bid price : 20.01 Bid-YTW : 6.44 % |
HSE.PR.G | FixedReset Disc | -2.26 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-13 Maturity Price : 8.65 Evaluated at bid price : 8.65 Bid-YTW : 12.08 % |
PWF.PR.A | Floater | -2.14 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-13 Maturity Price : 8.70 Evaluated at bid price : 8.70 Bid-YTW : 5.00 % |
TRP.PR.K | FixedReset Disc | -2.09 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-13 Maturity Price : 21.05 Evaluated at bid price : 21.05 Bid-YTW : 5.91 % |
CM.PR.R | FixedReset Disc | -2.08 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-13 Maturity Price : 16.50 Evaluated at bid price : 16.50 Bid-YTW : 6.13 % |
SLF.PR.C | Deemed-Retractible | -1.92 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-13 Maturity Price : 18.41 Evaluated at bid price : 18.41 Bid-YTW : 6.10 % |
CU.PR.C | FixedReset Disc | -1.91 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-13 Maturity Price : 14.37 Evaluated at bid price : 14.37 Bid-YTW : 5.35 % |
BAM.PF.E | FixedReset Disc | -1.81 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-13 Maturity Price : 13.01 Evaluated at bid price : 13.01 Bid-YTW : 6.35 % |
BNS.PR.H | FixedReset Disc | -1.78 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-13 Maturity Price : 21.50 Evaluated at bid price : 21.50 Bid-YTW : 5.58 % |
IFC.PR.G | FixedReset Ins Non | -1.72 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-13 Maturity Price : 14.25 Evaluated at bid price : 14.25 Bid-YTW : 6.17 % |
EIT.PR.B | SplitShare | -1.67 % | YTW SCENARIO Maturity Type : Soft Maturity Maturity Date : 2025-03-14 Maturity Price : 25.00 Evaluated at bid price : 23.50 Bid-YTW : 6.37 % |
TRP.PR.D | FixedReset Disc | -1.58 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-13 Maturity Price : 13.05 Evaluated at bid price : 13.05 Bid-YTW : 6.14 % |
IFC.PR.C | FixedReset Ins Non | -1.55 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-13 Maturity Price : 13.31 Evaluated at bid price : 13.31 Bid-YTW : 6.16 % |
RY.PR.W | Perpetual-Discount | -1.51 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-13 Maturity Price : 21.98 Evaluated at bid price : 22.21 Bid-YTW : 5.59 % |
SLF.PR.E | Deemed-Retractible | -1.37 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-13 Maturity Price : 18.65 Evaluated at bid price : 18.65 Bid-YTW : 6.09 % |
EML.PR.A | FixedReset Ins Non | -1.33 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-13 Maturity Price : 21.75 Evaluated at bid price : 22.20 Bid-YTW : 6.30 % |
SLF.PR.D | Deemed-Retractible | -1.33 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-13 Maturity Price : 18.52 Evaluated at bid price : 18.52 Bid-YTW : 6.07 % |
NA.PR.A | FixedReset Disc | -1.30 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-13 Maturity Price : 22.34 Evaluated at bid price : 22.75 Bid-YTW : 5.75 % |
SLF.PR.A | Deemed-Retractible | -1.26 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-13 Maturity Price : 19.65 Evaluated at bid price : 19.65 Bid-YTW : 6.10 % |
IAF.PR.B | Deemed-Retractible | -1.14 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-13 Maturity Price : 19.06 Evaluated at bid price : 19.06 Bid-YTW : 6.09 % |
BNS.PR.Z | FixedReset Bank Non | -1.08 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2022-01-31 Maturity Price : 25.00 Evaluated at bid price : 23.75 Bid-YTW : 4.88 % |
BMO.PR.Y | FixedReset Disc | -1.06 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-13 Maturity Price : 14.00 Evaluated at bid price : 14.00 Bid-YTW : 5.99 % |
POW.PR.G | Perpetual-Discount | 1.01 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-13 Maturity Price : 21.75 Evaluated at bid price : 22.07 Bid-YTW : 6.37 % |
IAF.PR.I | FixedReset Ins Non | 1.03 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-13 Maturity Price : 14.75 Evaluated at bid price : 14.75 Bid-YTW : 6.16 % |
SLF.PR.J | FloatingReset | 1.05 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-13 Maturity Price : 8.70 Evaluated at bid price : 8.70 Bid-YTW : 4.78 % |
PWF.PR.E | Perpetual-Discount | 1.07 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-13 Maturity Price : 21.53 Evaluated at bid price : 21.79 Bid-YTW : 6.32 % |
RY.PR.H | FixedReset Disc | 1.07 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-13 Maturity Price : 14.15 Evaluated at bid price : 14.15 Bid-YTW : 5.47 % |
TD.PF.G | FixedReset Disc | 1.09 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-13 Maturity Price : 22.73 Evaluated at bid price : 23.26 Bid-YTW : 5.64 % |
CU.PR.D | Perpetual-Discount | 1.11 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-13 Maturity Price : 20.98 Evaluated at bid price : 20.98 Bid-YTW : 5.93 % |
PWF.PR.K | Perpetual-Discount | 1.19 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-13 Maturity Price : 19.58 Evaluated at bid price : 19.58 Bid-YTW : 6.35 % |
POW.PR.A | Perpetual-Discount | 1.19 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-13 Maturity Price : 21.87 Evaluated at bid price : 22.11 Bid-YTW : 6.37 % |
MFC.PR.H | FixedReset Ins Non | 1.24 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-13 Maturity Price : 15.48 Evaluated at bid price : 15.48 Bid-YTW : 6.19 % |
TRP.PR.F | FloatingReset | 1.26 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-13 Maturity Price : 9.64 Evaluated at bid price : 9.64 Bid-YTW : 5.65 % |
TRP.PR.J | FixedReset Disc | 1.31 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-13 Maturity Price : 23.44 Evaluated at bid price : 23.95 Bid-YTW : 5.81 % |
BMO.PR.W | FixedReset Disc | 1.32 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-13 Maturity Price : 13.80 Evaluated at bid price : 13.80 Bid-YTW : 5.69 % |
CU.PR.G | Perpetual-Discount | 1.41 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-13 Maturity Price : 19.39 Evaluated at bid price : 19.39 Bid-YTW : 5.89 % |
BMO.PR.T | FixedReset Disc | 1.42 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-13 Maturity Price : 13.55 Evaluated at bid price : 13.55 Bid-YTW : 5.68 % |
PWF.PR.S | Perpetual-Discount | 1.42 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-13 Maturity Price : 19.25 Evaluated at bid price : 19.25 Bid-YTW : 6.26 % |
IAF.PR.G | FixedReset Ins Non | 1.47 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-13 Maturity Price : 13.80 Evaluated at bid price : 13.80 Bid-YTW : 6.37 % |
MFC.PR.K | FixedReset Ins Non | 1.50 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-13 Maturity Price : 13.54 Evaluated at bid price : 13.54 Bid-YTW : 5.86 % |
ELF.PR.H | Perpetual-Discount | 1.62 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-13 Maturity Price : 21.63 Evaluated at bid price : 21.95 Bid-YTW : 6.29 % |
HSE.PR.C | FixedReset Disc | 1.66 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-13 Maturity Price : 9.18 Evaluated at bid price : 9.18 Bid-YTW : 11.39 % |
BIP.PR.C | FixedReset Disc | 1.71 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-13 Maturity Price : 21.41 Evaluated at bid price : 21.41 Bid-YTW : 6.31 % |
BIP.PR.A | FixedReset Disc | 1.79 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-13 Maturity Price : 14.25 Evaluated at bid price : 14.25 Bid-YTW : 7.35 % |
BAM.PF.I | FixedReset Disc | 1.82 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-13 Maturity Price : 22.09 Evaluated at bid price : 22.38 Bid-YTW : 5.39 % |
BAM.PF.H | FixedReset Disc | 1.83 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-13 Maturity Price : 22.71 Evaluated at bid price : 23.35 Bid-YTW : 5.36 % |
W.PR.M | FixedReset Disc | 1.91 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-13 Maturity Price : 22.59 Evaluated at bid price : 23.00 Bid-YTW : 5.67 % |
PWF.PR.L | Perpetual-Discount | 1.96 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-13 Maturity Price : 20.25 Evaluated at bid price : 20.25 Bid-YTW : 6.32 % |
MFC.PR.O | FixedReset Ins Non | 2.13 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-13 Maturity Price : 23.51 Evaluated at bid price : 24.00 Bid-YTW : 5.83 % |
NA.PR.X | FixedReset Disc | 2.34 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-13 Maturity Price : 23.54 Evaluated at bid price : 24.05 Bid-YTW : 5.68 % |
BAM.PR.R | FixedReset Disc | 2.50 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-13 Maturity Price : 11.50 Evaluated at bid price : 11.50 Bid-YTW : 6.35 % |
MFC.PR.R | FixedReset Ins Non | 2.78 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-13 Maturity Price : 18.50 Evaluated at bid price : 18.50 Bid-YTW : 6.11 % |
RY.PR.J | FixedReset Disc | 3.08 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-13 Maturity Price : 15.41 Evaluated at bid price : 15.41 Bid-YTW : 5.47 % |
CU.PR.F | Perpetual-Discount | 3.63 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-13 Maturity Price : 20.00 Evaluated at bid price : 20.00 Bid-YTW : 5.71 % |
MFC.PR.F | FixedReset Ins Non | 3.75 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-13 Maturity Price : 8.57 Evaluated at bid price : 8.57 Bid-YTW : 5.91 % |
MFC.PR.G | FixedReset Ins Non | 3.77 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-13 Maturity Price : 14.30 Evaluated at bid price : 14.30 Bid-YTW : 6.24 % |
MFC.PR.L | FixedReset Ins Non | 3.86 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-13 Maturity Price : 12.93 Evaluated at bid price : 12.93 Bid-YTW : 5.88 % |
NA.PR.C | FixedReset Disc | 4.53 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-13 Maturity Price : 16.85 Evaluated at bid price : 16.85 Bid-YTW : 6.06 % |
HSE.PR.A | FixedReset Disc | 4.79 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-13 Maturity Price : 5.91 Evaluated at bid price : 5.91 Bid-YTW : 9.96 % |
MFC.PR.I | FixedReset Ins Non | 5.19 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-13 Maturity Price : 14.79 Evaluated at bid price : 14.79 Bid-YTW : 6.13 % |
CM.PR.P | FixedReset Disc | 5.90 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-13 Maturity Price : 13.29 Evaluated at bid price : 13.29 Bid-YTW : 5.93 % |
TRP.PR.E | FixedReset Disc | 7.50 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-13 Maturity Price : 12.90 Evaluated at bid price : 12.90 Bid-YTW : 6.15 % |
RY.PR.M | FixedReset Disc | 20.70 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-13 Maturity Price : 14.46 Evaluated at bid price : 14.46 Bid-YTW : 5.65 % |
Volume Highlights | |||
Issue | Index | Shares Traded |
Notes |
CM.PR.R | FixedReset Disc | 312,511 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-13 Maturity Price : 16.50 Evaluated at bid price : 16.50 Bid-YTW : 6.13 % |
BNS.PR.H | FixedReset Disc | 297,922 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-13 Maturity Price : 21.50 Evaluated at bid price : 21.50 Bid-YTW : 5.58 % |
TD.PF.J | FixedReset Disc | 103,846 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-13 Maturity Price : 16.71 Evaluated at bid price : 16.71 Bid-YTW : 5.29 % |
TD.PF.A | FixedReset Disc | 79,417 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-13 Maturity Price : 13.76 Evaluated at bid price : 13.76 Bid-YTW : 5.56 % |
RY.PR.Q | FixedReset Disc | 55,839 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-13 Maturity Price : 23.33 Evaluated at bid price : 23.85 Bid-YTW : 5.44 % |
MFC.PR.G | FixedReset Ins Non | 45,799 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-04-13 Maturity Price : 14.30 Evaluated at bid price : 14.30 Bid-YTW : 6.24 % |
There were 32 other index-included issues trading in excess of 10,000 shares. |
Wide Spread Highlights | ||
Issue | Index | Quote Data and Yield Notes |
TD.PF.M | FixedReset Disc | Quote: 19.65 – 24.83 Spot Rate : 5.1800 Average : 2.7902 YTW SCENARIO |
BAM.PF.A | FixedReset Disc | Quote: 15.75 – 21.00 Spot Rate : 5.2500 Average : 3.4390 YTW SCENARIO |
TRP.PR.G | FixedReset Disc | Quote: 12.45 – 15.29 Spot Rate : 2.8400 Average : 2.1144 YTW SCENARIO |
TD.PF.E | FixedReset Disc | Quote: 15.35 – 17.30 Spot Rate : 1.9500 Average : 1.4169 YTW SCENARIO |
BAM.PF.I | FixedReset Disc | Quote: 22.38 – 23.84 Spot Rate : 1.4600 Average : 0.9772 YTW SCENARIO |
TRP.PR.K | FixedReset Disc | Quote: 21.05 – 22.24 Spot Rate : 1.1900 Average : 0.8757 YTW SCENARIO |
EIT.PR.A, EIT.PR.B : Annual Report 2019
April 12th, 2020Canoe EIT Income Fund has released its Annual Report to December 31, 2019.
Year
Years
Years
Years
Common Redeemable Units
(based on NAV)
Sadly, they did not publish a “whole fund” return.
Figures of interest are:
MER: “Management expense ratio excluding issue costs, interest, and distributions to preferred redeemable unit” “as a percentage of net asset value” (which I take to mean, based only on the equity represented by the Capital Units) 1.61% “as a percentage of net asset value” (which I take to mean, based only on the equity represented by the Capital Units).
Average Net Assets: There was no particularly enormous change in either the number of capital units outstanding or of the net asset value per capital unit, so let’s just take the average of the year-beginning and year-ending NAVs, including preferred shares: (1,067-million + 215-million + 1,281-million + 216-million) / 2 = 1,390-million
Underlying Portfolio Yield: Dividends received of 29.503-million + interest of 5.301-million is 34.804-million divided by average net assets of 1,390-million is 2.50%
Income Coverage: Net Investment Income of 7.935-million divided by Preferred Share Distributions of 10.683-million is 74%.
Asset Coverage: NET ASSETS ATTRIBUTABLE TO HOLDERS OF COMMON REDEEMABLE UNITS of 1,281-million + Preferred redeemable units of 216-million, all divided by Preferred redeemable units of 216-million is 6.9+:1 (downside protection of about 86%)
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