TD.PF.A, a FixedReset, 3.90%+224, NVCC-compliant issue announced May 26 settled today. It will be tracked by HIMIPref™ and has been assigned to the FixedReset subindex. It is rated Pfd-2 [Stable] by DBRS.
The issue traded 1,167,517 shares today in a range of 24.85-95 before closing at 24.94-95, 125×476. Vital statistics are:
| TD.PF.A |
FixedReset |
YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2044-06-04
Maturity Price : 23.12
Evaluated at bid price : 24.94
Bid-YTW : 3.72 % |
TD.PF.A appears to be cheap according to Implied Volatility Theory relative to its lower-reset cousins, TD.PR.S and TD.PR.Y, but it must be remembered that the two comparators are not NVCC compliant.
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This entry was posted on Wednesday, June 4th, 2014 at 10:43 pm and is filed under Issue Comments. You can follow any responses to this entry through the RSS 2.0 feed.
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TD.PF.A Firm On Excellent Volume
TD.PF.A, a FixedReset, 3.90%+224, NVCC-compliant issue announced May 26 settled today. It will be tracked by HIMIPref™ and has been assigned to the FixedReset subindex. It is rated Pfd-2 [Stable] by DBRS.
The issue traded 1,167,517 shares today in a range of 24.85-95 before closing at 24.94-95, 125×476. Vital statistics are:
Maturity Type : Limit Maturity
Maturity Date : 2044-06-04
Maturity Price : 23.12
Evaluated at bid price : 24.94
Bid-YTW : 3.72 %
TD.PF.A appears to be cheap according to Implied Volatility Theory relative to its lower-reset cousins, TD.PR.S and TD.PR.Y, but it must be remembered that the two comparators are not NVCC compliant.
Click for Big
This entry was posted on Wednesday, June 4th, 2014 at 10:43 pm and is filed under Issue Comments. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.