Fixed-Resets: A Review

Well, as previously noted, despite my misgivings, I have to add the fixed-resets to the HIMIPref™ universe since:

  • There are now 10 issues outstanding, making intra-sectoral swaps a source of potential profit
  • They comprise more than 10% of the TXPR Index

So, not being one to wish to waste perfectly good notes, I thought I’d review the characteristics of the issues so far:

Fixed-Reset Issues Announced or Issued
to September 4, 2008
Ticker Initial
Rate		 Reset
Spread		 First
Exchange
Date
TD.PR.? 5.00% 196 bp 2014-1-31
CM.PR.? 5.35% 218 bp 2014-7-31
BNS.PR.? 5.00% 188 bp 2014-1-25
TD.PR.Y 5.10% 168 bp 2013-10-31
BMO.PR.M 5.20% 165 bp 2013-8-25
NA.PR.N 5.375% 205 bp 2013-8-15
TD.PR.S 5.00% 160 bp 2013-7-31
BNS.PR.Q 5.00% 170 bp 2013-10-25
FTS.PR.G 5.25% 213 bp 2013-9-1
BNS.PR.P 5.00% 205 bp 2013-4-25

This entry was posted on Thursday, September 4th, 2008 at 1:11 pm and is filed under Data Changes, Miscellaneous News. 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.

One Response to “Fixed-Resets: A Review”

  1. PrefBlog » Blog Archive » Harry Koza Likes Fixed-Resets says:
    September 5, 2008 at 5:03 pm

    […] yield to increase to provide some kind of real yield; and then there will be a credit spread (of varying size) to be added to that. So, yes, one must agree: fixed-reset perpetuals offer a degree of protection […]

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