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

Leave a Reply

You must be logged in to post a comment.