Assiduous Readers will remember that FN.PR.B has sprung into existence as a result of a 28% conversion from FN.PR.A. I recommended against conversion. FN.PR.A has reset for the next five years at 2.79%, while FN.PR.B will pay 3-Month Bills +207bp, reset quarterly.
FN.PR.B was listed today, but there was no trading and no offer. This issue will be tracked by HIMIPref™ but has been relegated to the Scraps index on credit concerns.
Vital statistics for the two issues are:
| FN.PR.A |
FixedReset |
YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-01
Maturity Price : 11.81
Evaluated at bid price : 11.81
Bid-YTW : 5.92 % |
| FN.PR.B |
FloatingReset |
YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-01
Maturity Price : 10.60
Evaluated at bid price : 10.60
Bid-YTW : 5.95 % |
This entry was posted on Friday, April 1st, 2016 at 11:38 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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FN.PR.B Listed: No Trading, Bid Without
Assiduous Readers will remember that FN.PR.B has sprung into existence as a result of a 28% conversion from FN.PR.A. I recommended against conversion. FN.PR.A has reset for the next five years at 2.79%, while FN.PR.B will pay 3-Month Bills +207bp, reset quarterly.
FN.PR.B was listed today, but there was no trading and no offer. This issue will be tracked by HIMIPref™ but has been relegated to the Scraps index on credit concerns.
Vital statistics for the two issues are:
Maturity Type : Limit Maturity
Maturity Date : 2046-04-01
Maturity Price : 11.81
Evaluated at bid price : 11.81
Bid-YTW : 5.92 %
Maturity Type : Limit Maturity
Maturity Date : 2046-04-01
Maturity Price : 10.60
Evaluated at bid price : 10.60
Bid-YTW : 5.95 %
This entry was posted on Friday, April 1st, 2016 at 11:38 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.