As has been previously reported on PrefBlog, there was a 42% conversion of BNS.PR.Y into BNS.PR.D on its first Exchange Date.
BNS.PR.D is a FloatingReset 3MoBills+100bp. The issue traded 500 shares today (consolidated exchanges) in a range of 22.00-23.90 (!) before closing at 21.90-30.
Vital statistics are:
| BNS.PR.D |
FloatingReset |
YTW SCENARIO
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.90
Bid-YTW : 3.66 % |
As may be seen on the Strong Pairs analysis …:
Click for Biginvestment grade FixedReset/FloatingReset pairs have an average break-even three-month bill rate of about 0.20%; outliers are TRP.PR.A / TRP.PR.F (not shown) at -0.77%, and the BNS.PR.Y / BNS.PR.D pair at +0.63%.
This entry was posted on Monday, April 27th, 2015 at 6:55 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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BNS.PR.D: No Surprises On Debut
As has been previously reported on PrefBlog, there was a 42% conversion of BNS.PR.Y into BNS.PR.D on its first Exchange Date.
BNS.PR.D is a FloatingReset 3MoBills+100bp. The issue traded 500 shares today (consolidated exchanges) in a range of 22.00-23.90 (!) before closing at 21.90-30.
Vital statistics are:
Maturity Type : Hard Maturity
Maturity Date : 2022-01-31
Maturity Price : 25.00
Evaluated at bid price : 21.90
Bid-YTW : 3.66 %
As may be seen on the Strong Pairs analysis …:
Click for Big
investment grade FixedReset/FloatingReset pairs have an average break-even three-month bill rate of about 0.20%; outliers are TRP.PR.A / TRP.PR.F (not shown) at -0.77%, and the BNS.PR.Y / BNS.PR.D pair at +0.63%.
This entry was posted on Monday, April 27th, 2015 at 6:55 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.