Quadravest has announced:
Financial 15 Split Corp. (“Financial 15”) is pleased to announce it has reinstated Class A share dividends at a monthly distribution rate of $0.1257 for each post-consolidation FTN Class A share ($1.5084 annually) and declares $0.05625 for each FTN.PR.A Preferred share ($0.675 annually). The current rate for the Class A shares of $1.5084 is a post-consolidation yield of 17% based on Friday’s pre-consolidation closing price of $3.65. This is an increase in the dividend for the Class A shares from previous guidance. Distributions are payable January 8, 2021 to shareholders on record as at December 31, 2020.
Note that FTN will be trading on a pre-consolidation basis until ‘on or about December 17’.
| HIMIPref™ Preferred Indices These values reflect the December 2008 revision of the HIMIPref™ Indices Values are provisional and are finalized monthly |
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| Index | Mean Current Yield (at bid) |
Median YTW |
Median Average Trading Value |
Median Mod Dur (YTW) |
Issues | Day’s Perf. | Index Value |
| Ratchet | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.6329 % | 1,905.0 |
| FixedFloater | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.6329 % | 3,495.6 |
| Floater | 4.49 % | 4.55 % | 59,475 | 16.23 | 2 | 0.6329 % | 2,014.5 |
| OpRet | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.2189 % | 3,604.6 |
| SplitShare | 4.80 % | 4.31 % | 40,300 | 3.85 | 9 | 0.2189 % | 4,304.6 |
| Interest-Bearing | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.2189 % | 3,358.6 |
| Perpetual-Premium | 5.32 % | 1.42 % | 76,948 | 0.22 | 19 | 0.0783 % | 3,200.8 |
| Perpetual-Discount | 4.96 % | 5.04 % | 82,069 | 15.39 | 12 | -0.3128 % | 3,688.6 |
| FixedReset Disc | 5.06 % | 3.95 % | 133,032 | 17.11 | 56 | 0.1208 % | 2,300.5 |
| Insurance Straight | 5.01 % | 4.62 % | 91,125 | 4.94 | 22 | -0.0346 % | 3,585.8 |
| FloatingReset | 1.96 % | 2.06 % | 45,750 | 1.14 | 3 | 0.0659 % | 1,842.7 |
| FixedReset Prem | 5.16 % | 3.15 % | 200,665 | 0.70 | 22 | -0.0787 % | 2,672.1 |
| FixedReset Bank Non | 1.94 % | 2.09 % | 182,737 | 1.13 | 2 | 0.0803 % | 2,870.0 |
| FixedReset Ins Non | 5.11 % | 3.96 % | 80,856 | 17.13 | 22 | 0.3730 % | 2,390.1 |
| Performance Highlights | |||
| Issue | Index | Change | Notes |
| SLF.PR.G | FixedReset Ins Non | -4.64 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-12-07 Maturity Price : 11.50 Evaluated at bid price : 11.50 Bid-YTW : 4.08 % |
| SLF.PR.C | Insurance Straight | -4.28 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-12-07 Maturity Price : 23.20 Evaluated at bid price : 23.50 Bid-YTW : 4.72 % |
| CU.PR.F | Perpetual-Discount | -4.10 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-12-07 Maturity Price : 22.97 Evaluated at bid price : 23.40 Bid-YTW : 4.81 % |
| CU.PR.C | FixedReset Disc | -2.21 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-12-07 Maturity Price : 17.26 Evaluated at bid price : 17.26 Bid-YTW : 4.25 % |
| BMO.PR.T | FixedReset Disc | -1.50 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-12-07 Maturity Price : 19.05 Evaluated at bid price : 19.05 Bid-YTW : 3.81 % |
| BAM.PF.B | FixedReset Disc | -1.40 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-12-07 Maturity Price : 17.65 Evaluated at bid price : 17.65 Bid-YTW : 4.88 % |
| IFC.PR.G | FixedReset Ins Non | 1.02 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-12-07 Maturity Price : 19.75 Evaluated at bid price : 19.75 Bid-YTW : 4.24 % |
| MFC.PR.L | FixedReset Ins Non | 1.03 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-12-07 Maturity Price : 17.58 Evaluated at bid price : 17.58 Bid-YTW : 4.06 % |
| IFC.PR.C | FixedReset Ins Non | 1.16 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-12-07 Maturity Price : 19.20 Evaluated at bid price : 19.20 Bid-YTW : 4.17 % |
| MFC.PR.F | FixedReset Ins Non | 1.18 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-12-07 Maturity Price : 12.00 Evaluated at bid price : 12.00 Bid-YTW : 3.96 % |
| BAM.PF.E | FixedReset Disc | 1.22 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-12-07 Maturity Price : 16.60 Evaluated at bid price : 16.60 Bid-YTW : 4.86 % |
| BIP.PR.E | FixedReset Disc | 1.23 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-12-07 Maturity Price : 23.04 Evaluated at bid price : 23.90 Bid-YTW : 5.19 % |
| TRP.PR.G | FixedReset Disc | 1.23 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-12-07 Maturity Price : 16.40 Evaluated at bid price : 16.40 Bid-YTW : 5.25 % |
| GWO.PR.R | Insurance Straight | 1.30 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-12-07 Maturity Price : 24.61 Evaluated at bid price : 24.91 Bid-YTW : 4.81 % |
| IAF.PR.I | FixedReset Ins Non | 1.31 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-12-07 Maturity Price : 20.90 Evaluated at bid price : 20.90 Bid-YTW : 4.08 % |
| SLF.PR.I | FixedReset Ins Non | 1.33 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-12-07 Maturity Price : 20.57 Evaluated at bid price : 20.57 Bid-YTW : 3.94 % |
| TRP.PR.E | FixedReset Disc | 1.50 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-12-07 Maturity Price : 14.92 Evaluated at bid price : 14.92 Bid-YTW : 5.16 % |
| BIP.PR.F | FixedReset Disc | 1.61 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-12-07 Maturity Price : 22.92 Evaluated at bid price : 23.91 Bid-YTW : 5.29 % |
| PWF.PR.P | FixedReset Disc | 1.72 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-12-07 Maturity Price : 11.80 Evaluated at bid price : 11.80 Bid-YTW : 4.46 % |
| NA.PR.G | FixedReset Disc | 1.83 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-12-07 Maturity Price : 21.98 Evaluated at bid price : 22.30 Bid-YTW : 3.93 % |
| BIP.PR.A | FixedReset Disc | 2.47 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-12-07 Maturity Price : 18.70 Evaluated at bid price : 18.70 Bid-YTW : 5.39 % |
| GWO.PR.N | FixedReset Ins Non | 3.29 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-12-07 Maturity Price : 11.00 Evaluated at bid price : 11.00 Bid-YTW : 4.05 % |
| Volume Highlights | |||
| Issue | Index | Shares Traded |
Notes |
| PWF.PR.P | FixedReset Disc | 64,500 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-12-07 Maturity Price : 11.80 Evaluated at bid price : 11.80 Bid-YTW : 4.46 % |
| NA.PR.G | FixedReset Disc | 54,308 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-12-07 Maturity Price : 21.98 Evaluated at bid price : 22.30 Bid-YTW : 3.93 % |
| TD.PF.I | FixedReset Disc | 48,674 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-12-07 Maturity Price : 23.61 Evaluated at bid price : 23.95 Bid-YTW : 3.76 % |
| BAM.PF.G | FixedReset Disc | 47,500 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-12-07 Maturity Price : 17.35 Evaluated at bid price : 17.35 Bid-YTW : 4.84 % |
| RY.PR.J | FixedReset Disc | 45,500 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-12-07 Maturity Price : 21.30 Evaluated at bid price : 21.30 Bid-YTW : 3.80 % |
| MFC.PR.H | FixedReset Ins Non | 42,800 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2050-12-07 Maturity Price : 22.92 Evaluated at bid price : 23.40 Bid-YTW : 3.88 % |
| There were 27 other index-included issues trading in excess of 10,000 shares. | |||
| Wide Spread Highlights | ||
| Issue | Index | Quote Data and Yield Notes |
| CU.PR.F | Perpetual-Discount | Quote: 23.40 – 24.70 Spot Rate : 1.3000 Average : 0.7930 YTW SCENARIO |
| SLF.PR.C | Insurance Straight | Quote: 23.50 – 24.70 Spot Rate : 1.2000 Average : 0.7625 YTW SCENARIO |
| GWO.PR.N | FixedReset Ins Non | Quote: 11.00 – 12.00 Spot Rate : 1.0000 Average : 0.7193 YTW SCENARIO |
| CM.PR.Q | FixedReset Disc | Quote: 20.80 – 21.51 Spot Rate : 0.7100 Average : 0.4741 YTW SCENARIO |
| CU.PR.C | FixedReset Disc | Quote: 17.26 – 18.00 Spot Rate : 0.7400 Average : 0.5434 YTW SCENARIO |
| SLF.PR.G | FixedReset Ins Non | Quote: 11.50 – 12.18 Spot Rate : 0.6800 Average : 0.5226 YTW SCENARIO |