| 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 | 3.08 % | 3.59 % | 39,281 | 19.95 | 1 | 0.9128 % | 2,834.8 |
| FixedFloater | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 2.4634 % | 5,203.9 |
| Floater | 3.06 % | 3.07 % | 64,365 | 19.55 | 3 | 2.4634 % | 2,999.0 |
| OpRet | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.1593 % | 3,674.1 |
| SplitShare | 4.67 % | 4.13 % | 41,222 | 3.58 | 6 | 0.1593 % | 4,387.6 |
| Interest-Bearing | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.1593 % | 3,423.4 |
| Perpetual-Premium | 5.17 % | -10.58 % | 43,899 | 0.09 | 23 | -0.0950 % | 3,252.2 |
| Perpetual-Discount | 4.76 % | 4.80 % | 54,587 | 15.85 | 11 | 0.1441 % | 3,859.7 |
| FixedReset Disc | 4.03 % | 3.89 % | 109,555 | 17.24 | 42 | 0.8133 % | 2,796.9 |
| Insurance Straight | 4.96 % | 4.48 % | 84,457 | 4.20 | 19 | 0.2058 % | 3,660.6 |
| FloatingReset | 2.62 % | 2.94 % | 29,782 | 19.87 | 2 | 1.3932 % | 2,658.2 |
| FixedReset Prem | 4.72 % | 3.21 % | 116,990 | 2.27 | 28 | 0.5803 % | 2,724.7 |
| FixedReset Bank Non | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.8133 % | 2,859.0 |
| FixedReset Ins Non | 4.13 % | 3.64 % | 80,585 | 17.65 | 18 | 0.2721 % | 2,929.6 |
| Performance Highlights | |||
| Issue | Index | Change | Notes |
| BAM.PR.T | FixedReset Disc | -3.47 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2051-12-23 Maturity Price : 18.90 Evaluated at bid price : 18.90 Bid-YTW : 4.62 % |
| IFC.PR.F | Insurance Straight | -1.17 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2026-09-30 Maturity Price : 25.00 Evaluated at bid price : 25.40 Bid-YTW : 4.93 % |
| BAM.PF.D | Perpetual-Premium | 1.04 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2022-01-22 Maturity Price : 25.25 Evaluated at bid price : 25.35 Bid-YTW : -1.26 % |
| RS.PR.A | SplitShare | 1.05 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2025-12-31 Maturity Price : 10.00 Evaluated at bid price : 10.56 Bid-YTW : 4.08 % |
| BMO.PR.T | FixedReset Disc | 1.10 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2051-12-23 Maturity Price : 23.01 Evaluated at bid price : 23.96 Bid-YTW : 3.54 % |
| MFC.PR.L | FixedReset Ins Non | 1.14 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2051-12-23 Maturity Price : 22.50 Evaluated at bid price : 22.99 Bid-YTW : 3.66 % |
| GWO.PR.R | Insurance Straight | 1.18 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2051-12-23 Maturity Price : 24.71 Evaluated at bid price : 24.95 Bid-YTW : 4.82 % |
| GWO.PR.H | Insurance Straight | 1.25 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2022-01-22 Maturity Price : 25.00 Evaluated at bid price : 25.11 Bid-YTW : -1.79 % |
| CM.PR.Y | FixedReset Prem | 1.30 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2024-07-31 Maturity Price : 25.00 Evaluated at bid price : 26.55 Bid-YTW : 3.00 % |
| TRP.PR.E | FixedReset Disc | 1.42 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2051-12-23 Maturity Price : 20.74 Evaluated at bid price : 20.74 Bid-YTW : 4.35 % |
| TRP.PR.B | FixedReset Disc | 1.43 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2051-12-23 Maturity Price : 13.44 Evaluated at bid price : 13.44 Bid-YTW : 4.32 % |
| CM.PR.T | FixedReset Prem | 1.46 % | YTW SCENARIO Maturity Type : Call Maturity Date : 2024-04-30 Maturity Price : 25.00 Evaluated at bid price : 26.38 Bid-YTW : 3.12 % |
| RY.PR.M | FixedReset Disc | 1.60 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2051-12-23 Maturity Price : 22.92 Evaluated at bid price : 24.13 Bid-YTW : 3.71 % |
| CM.PR.S | FixedReset Prem | 1.62 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2051-12-23 Maturity Price : 23.90 Evaluated at bid price : 25.05 Bid-YTW : 3.64 % |
| TRP.PR.D | FixedReset Disc | 1.84 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2051-12-23 Maturity Price : 20.99 Evaluated at bid price : 20.99 Bid-YTW : 4.34 % |
| CM.PR.O | FixedReset Disc | 1.96 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2051-12-23 Maturity Price : 23.02 Evaluated at bid price : 23.96 Bid-YTW : 3.65 % |
| FTS.PR.K | FixedReset Disc | 1.97 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2051-12-23 Maturity Price : 20.70 Evaluated at bid price : 20.70 Bid-YTW : 4.02 % |
| BAM.PF.F | FixedReset Disc | 1.97 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2051-12-23 Maturity Price : 22.31 Evaluated at bid price : 22.75 Bid-YTW : 4.42 % |
| BIP.PR.A | FixedReset Disc | 2.06 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2051-12-23 Maturity Price : 22.79 Evaluated at bid price : 23.75 Bid-YTW : 4.79 % |
| BAM.PR.B | Floater | 2.24 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2051-12-23 Maturity Price : 14.16 Evaluated at bid price : 14.16 Bid-YTW : 3.02 % |
| TRP.PR.F | FloatingReset | 2.45 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2051-12-23 Maturity Price : 16.70 Evaluated at bid price : 16.70 Bid-YTW : 2.94 % |
| BMO.PR.Y | FixedReset Disc | 2.52 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2051-12-23 Maturity Price : 23.06 Evaluated at bid price : 24.40 Bid-YTW : 3.75 % |
| NA.PR.S | FixedReset Disc | 2.73 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2051-12-23 Maturity Price : 23.28 Evaluated at bid price : 24.45 Bid-YTW : 3.65 % |
| BAM.PF.E | FixedReset Disc | 4.70 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2051-12-23 Maturity Price : 20.94 Evaluated at bid price : 20.94 Bid-YTW : 4.43 % |
| BAM.PR.K | Floater | 4.83 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2051-12-23 Maturity Price : 13.90 Evaluated at bid price : 13.90 Bid-YTW : 3.08 % |
| TRP.PR.C | FixedReset Disc | 5.43 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2051-12-23 Maturity Price : 15.15 Evaluated at bid price : 15.15 Bid-YTW : 4.26 % |
| BNS.PR.I | FixedReset Prem | 6.46 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2051-12-23 Maturity Price : 23.75 Evaluated at bid price : 25.55 Bid-YTW : 3.57 % |
| Volume Highlights | |||
| Issue | Index | Shares Traded |
Notes |
| CU.PR.J | Perpetual-Discount | 28,800 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2051-12-23 Maturity Price : 24.65 Evaluated at bid price : 25.05 Bid-YTW : 4.76 % |
| PWF.PF.A | Perpetual-Discount | 24,800 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2051-12-23 Maturity Price : 24.69 Evaluated at bid price : 25.10 Bid-YTW : 4.53 % |
| GWO.PR.Y | Insurance Straight | 24,525 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2051-12-23 Maturity Price : 24.41 Evaluated at bid price : 24.80 Bid-YTW : 4.53 % |
| RY.PR.Z | FixedReset Disc | 16,145 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2051-12-23 Maturity Price : 23.14 Evaluated at bid price : 24.15 Bid-YTW : 3.49 % |
| POW.PR.C | Perpetual-Premium | 14,025 | YTW SCENARIO Maturity Type : Call Maturity Date : 2022-01-22 Maturity Price : 25.00 Evaluated at bid price : 25.50 Bid-YTW : -21.51 % |
| There were 0 other index-included issues trading in excess of 10,000 shares. | |||
| Wide Spread Highlights | ||
| Issue | Index | Quote Data and Yield Notes |
| BAM.PF.G | FixedReset Disc | Quote: 21.00 – 24.00 Spot Rate : 3.0000 Average : 1.9000 YTW SCENARIO |
| BAM.PF.B | FixedReset Disc | Quote: 21.80 – 23.70 Spot Rate : 1.9000 Average : 1.3331 YTW SCENARIO |
| MFC.PR.K | FixedReset Ins Non | Quote: 23.77 – 24.50 Spot Rate : 0.7300 Average : 0.5092 YTW SCENARIO |
| BAM.PR.T | FixedReset Disc | Quote: 18.90 – 19.94 Spot Rate : 1.0400 Average : 0.8254 YTW SCENARIO |
| SLF.PR.J | FloatingReset | Quote: 16.05 – 16.80 Spot Rate : 0.7500 Average : 0.5712 YTW SCENARIO |
| IFC.PR.F | Insurance Straight | Quote: 25.40 – 26.00 Spot Rate : 0.6000 Average : 0.4459 YTW SCENARIO |
Hi James
I cannot find any references to VB.PR.A on Prefblog. It is a fixed rate reset and is NVCC. In addition the issue VB.PR.B was redeemed earlier this year. Why are there no references to these VersaBank issues on Prefblog?
This issue is unrated and is therefore not tracked by HIMIPref.
There is a discussion of VB on Financial Wisdom Forum.
What’s the point of your question, btw?
I was asking because I did not understand the reason for exclusion.
Thank you for your explanation.
Ideally, I will post notices of new issues and redemptions of all Canadian preferred shares, but I don’t always hear about them. This applies even if the issue has no credit rating which, as noted, disqualifies it from being tracked by HIMIPref™. As I always note defensively, the disqualification is not because I can’t do credit analysis myself, but because it won’t do any good. A downgrade from one of the big agencies will get the attention of the directors and senior management of the company; a downgrade from HIMI won’t.
The dealers have given up on telling me about new issues because they know I’ll just laugh and tell them how expensive they are. I don’t spend enough on execution of client trades to be on any regular dealer reporting mailing lists.
So I don’t always hear about new issues and am always grateful when Assiduous Readers leave messages in the comments.