GMP.PR.C Listed: No Trading

Assiduous Readers will remember that GMP.PR.C has sprung into existence as a result of a 22% conversion from GMP.PR.B. I recommended against conversion. GMP.PR.B has reset for the next five years at 3.611%, while GMP.PR.C will pay 3-Month Bills +289bp, reset quarterly.

GMP.PR.C was listed today, but there was no trading. 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:

GMP.PR.B FixedReset YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-01
Maturity Price : 9.80
Evaluated at bid price : 9.80
Bid-YTW : 9.29 %
GMP.PR.C FloatingReset YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2046-04-01
Maturity Price : 9.51
Evaluated at bid price : 9.51
Bid-YTW : 8.85 %

This entry was posted on Friday, April 1st, 2016 at 11:43 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.

One Response to “GMP.PR.C Listed: No Trading”

  1. SafetyinNumbers says:
    April 4, 2016 at 9:48 am

    I’m curious if you have any thoughts on these draft guidelines for insurance companies issued by OSFI?

    http://www.osfi-bsif.gc.ca/Eng/Docs/LICAT_nr20160331.pdf

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