GWO.PR.N: Inventory Clearance Sale at 24.50

GWO.PR.N, a 3.65%+130 FixedReset which met with a lackadaisical reception when it settled on November 23, has apparently proved to be a tough sell – the underwriters are attempting to blow out their inventory at 24.50, with the repriced offering closing on December 3.

Still looks expensive according to me – that’s a pretty skimpy Issue Reset Rate and one must assume that it will never be called – but what do I know? Toronto Stock Exchange volume is about 440,000 shares as of 1pm, traded in a range of 24.48-54.

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