| 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 | 1.4460 % | 2,169.3 |
| FixedFloater | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 1.4460 % | 4,160.6 |
| Floater | 11.22 % | 11.58 % | 50,816 | 8.30 | 2 | 1.4460 % | 2,397.8 |
| OpRet | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.4177 % | 3,366.5 |
| SplitShare | 4.99 % | 7.16 % | 54,183 | 1.81 | 8 | -0.4177 % | 4,020.3 |
| Interest-Bearing | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.4177 % | 3,136.8 |
| Perpetual-Premium | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.0802 % | 2,529.4 |
| Perpetual-Discount | 6.76 % | 6.94 % | 51,604 | 12.57 | 33 | -0.0802 % | 2,758.2 |
| FixedReset Disc | 5.82 % | 8.21 % | 115,790 | 11.55 | 55 | 0.1854 % | 2,223.5 |
| Insurance Straight | 6.55 % | 6.73 % | 65,880 | 12.98 | 19 | 0.2802 % | 2,751.8 |
| FloatingReset | 10.63 % | 10.67 % | 35,242 | 9.13 | 1 | -0.8371 % | 2,477.0 |
| FixedReset Prem | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.1854 % | 2,513.8 |
| FixedReset Bank Non | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.1854 % | 2,272.9 |
| FixedReset Ins Non | 5.65 % | 7.76 % | 81,758 | 11.99 | 14 | 0.5833 % | 2,513.6 |
| Performance Highlights | |||
| Issue | Index | Change | Notes |
| FTS.PR.K | FixedReset Disc | -2.80 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-30 Maturity Price : 17.69 Evaluated at bid price : 17.69 Bid-YTW : 8.37 % |
| PVS.PR.J | SplitShare | -2.22 % | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2028-02-29 Maturity Price : 25.00 Evaluated at bid price : 22.00 Bid-YTW : 7.79 % |
| BN.PR.M | Perpetual-Discount | -2.13 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-30 Maturity Price : 16.56 Evaluated at bid price : 16.56 Bid-YTW : 7.34 % |
| BN.PF.D | Perpetual-Discount | -1.79 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-30 Maturity Price : 17.00 Evaluated at bid price : 17.00 Bid-YTW : 7.37 % |
| RY.PR.O | Perpetual-Discount | -1.59 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-30 Maturity Price : 21.02 Evaluated at bid price : 21.02 Bid-YTW : 5.88 % |
| CU.PR.D | Perpetual-Discount | -1.56 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-30 Maturity Price : 18.26 Evaluated at bid price : 18.26 Bid-YTW : 6.76 % |
| BN.PF.H | FixedReset Disc | -1.53 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-30 Maturity Price : 19.90 Evaluated at bid price : 19.90 Bid-YTW : 9.54 % |
| SLF.PR.G | FixedReset Ins Non | -1.52 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-30 Maturity Price : 14.29 Evaluated at bid price : 14.29 Bid-YTW : 8.52 % |
| FTS.PR.F | Perpetual-Discount | -1.39 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-30 Maturity Price : 18.50 Evaluated at bid price : 18.50 Bid-YTW : 6.68 % |
| BN.PF.I | FixedReset Disc | -1.25 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-30 Maturity Price : 18.22 Evaluated at bid price : 18.22 Bid-YTW : 9.86 % |
| BMO.PR.W | FixedReset Disc | -1.23 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-30 Maturity Price : 17.67 Evaluated at bid price : 17.67 Bid-YTW : 8.44 % |
| BMO.PR.T | FixedReset Disc | -1.20 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-30 Maturity Price : 18.15 Evaluated at bid price : 18.15 Bid-YTW : 8.29 % |
| BN.PF.C | Perpetual-Discount | -1.17 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-30 Maturity Price : 16.90 Evaluated at bid price : 16.90 Bid-YTW : 7.34 % |
| GWO.PR.R | Insurance Straight | -1.17 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-30 Maturity Price : 17.80 Evaluated at bid price : 17.80 Bid-YTW : 6.75 % |
| IFC.PR.I | Insurance Straight | 1.06 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-30 Maturity Price : 21.00 Evaluated at bid price : 21.00 Bid-YTW : 6.56 % |
| POW.PR.C | Perpetual-Discount | 1.15 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-30 Maturity Price : 21.75 Evaluated at bid price : 22.00 Bid-YTW : 6.70 % |
| TD.PF.D | FixedReset Disc | 1.22 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-30 Maturity Price : 19.05 Evaluated at bid price : 19.05 Bid-YTW : 8.25 % |
| MFC.PR.L | FixedReset Ins Non | 1.29 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-30 Maturity Price : 18.84 Evaluated at bid price : 18.84 Bid-YTW : 7.91 % |
| CM.PR.P | FixedReset Disc | 1.30 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-30 Maturity Price : 17.93 Evaluated at bid price : 17.93 Bid-YTW : 8.28 % |
| BIK.PR.A | FixedReset Disc | 1.31 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-30 Maturity Price : 22.37 Evaluated at bid price : 23.20 Bid-YTW : 8.38 % |
| GWO.PR.Y | Insurance Straight | 1.31 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-30 Maturity Price : 17.00 Evaluated at bid price : 17.00 Bid-YTW : 6.63 % |
| BNS.PR.I | FixedReset Disc | 1.37 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-30 Maturity Price : 22.19 Evaluated at bid price : 22.86 Bid-YTW : 6.91 % |
| PWF.PR.G | Perpetual-Discount | 1.40 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-30 Maturity Price : 21.44 Evaluated at bid price : 21.70 Bid-YTW : 6.89 % |
| PWF.PF.A | Perpetual-Discount | 1.52 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-30 Maturity Price : 16.70 Evaluated at bid price : 16.70 Bid-YTW : 6.84 % |
| MFC.PR.M | FixedReset Ins Non | 1.56 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-30 Maturity Price : 18.85 Evaluated at bid price : 18.85 Bid-YTW : 8.03 % |
| BN.PR.Z | FixedReset Disc | 1.61 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-30 Maturity Price : 18.29 Evaluated at bid price : 18.29 Bid-YTW : 9.19 % |
| MFC.PR.N | FixedReset Ins Non | 1.64 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-30 Maturity Price : 18.55 Evaluated at bid price : 18.55 Bid-YTW : 8.01 % |
| BN.PF.G | FixedReset Disc | 1.64 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-30 Maturity Price : 15.45 Evaluated at bid price : 15.45 Bid-YTW : 10.27 % |
| BN.PF.A | FixedReset Disc | 1.75 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-30 Maturity Price : 20.32 Evaluated at bid price : 20.32 Bid-YTW : 8.49 % |
| BN.PF.F | FixedReset Disc | 1.79 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-30 Maturity Price : 17.10 Evaluated at bid price : 17.10 Bid-YTW : 9.76 % |
| TD.PF.E | FixedReset Disc | 1.80 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-30 Maturity Price : 19.20 Evaluated at bid price : 19.20 Bid-YTW : 8.20 % |
| MFC.PR.J | FixedReset Ins Non | 1.85 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-30 Maturity Price : 21.67 Evaluated at bid price : 22.00 Bid-YTW : 7.24 % |
| IFC.PR.E | Insurance Straight | 2.73 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-30 Maturity Price : 20.35 Evaluated at bid price : 20.35 Bid-YTW : 6.52 % |
| PWF.PR.P | FixedReset Disc | 2.93 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-30 Maturity Price : 13.33 Evaluated at bid price : 13.33 Bid-YTW : 9.20 % |
| BN.PR.K | Floater | 2.94 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-30 Maturity Price : 11.20 Evaluated at bid price : 11.20 Bid-YTW : 11.63 % |
| Volume Highlights | |||
| Issue | Index | Shares Traded |
Notes |
| TD.PF.A | FixedReset Disc | 71,508 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-30 Maturity Price : 19.00 Evaluated at bid price : 19.00 Bid-YTW : 7.90 % |
| MFC.PR.K | FixedReset Ins Non | 61,070 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-30 Maturity Price : 21.50 Evaluated at bid price : 21.80 Bid-YTW : 7.06 % |
| NA.PR.S | FixedReset Disc | 55,404 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-30 Maturity Price : 19.21 Evaluated at bid price : 19.21 Bid-YTW : 8.14 % |
| TD.PF.C | FixedReset Disc | 49,969 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-30 Maturity Price : 18.30 Evaluated at bid price : 18.30 Bid-YTW : 8.18 % |
| TD.PF.B | FixedReset Disc | 43,296 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-30 Maturity Price : 19.76 Evaluated at bid price : 19.76 Bid-YTW : 7.70 % |
| MFC.PR.F | FixedReset Ins Non | 33,307 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2053-11-30 Maturity Price : 14.28 Evaluated at bid price : 14.28 Bid-YTW : 8.27 % |
| There were 14 other index-included issues trading in excess of 10,000 shares. | |||
| Wide Spread Highlights | ||
| Issue | Index | Quote Data and Yield Notes |
| PWF.PR.P | FixedReset Disc | Quote: 13.33 – 16.00 Spot Rate : 2.6700 Average : 1.7178 YTW SCENARIO |
| MFC.PR.F | FixedReset Ins Non | Quote: 14.28 – 23.79 Spot Rate : 9.5100 Average : 8.6629 YTW SCENARIO |
| CU.PR.F | Perpetual-Discount | Quote: 16.70 – 18.25 Spot Rate : 1.5500 Average : 1.1383 YTW SCENARIO |
| RY.PR.O | Perpetual-Discount | Quote: 21.02 – 22.00 Spot Rate : 0.9800 Average : 0.6509 YTW SCENARIO |
| MFC.PR.L | FixedReset Ins Non | Quote: 18.84 – 19.78 Spot Rate : 0.9400 Average : 0.6603 YTW SCENARIO |
| PVS.PR.J | SplitShare | Quote: 22.00 – 22.80 Spot Rate : 0.8000 Average : 0.5370 YTW SCENARIO |
CPX.PR.C extended. The market seemed to think it was 50/50 to go either way.
https://www.capitalpower.com/media/media_releases/capital-power-provides-notice-of-preferred-shares-series-3-conversion-privilege-and-dividend-rate-notice-2/
Reset rate for BPO.PR.T is 6.79%, based on GOC 5yr +3.16. That’s an annual dividend of $1.6975. Currently trading at about $12.61/share, so will yield 13.46% if purchased at today’s prices.
https://www.theglobeandmail.com/investing/markets/stocks/BPO-PR-T-T/pressreleases/22440446/
Open for conversion to the “U” series:
“The quarterly floating rate dividends on the Series U Shares have an annual rate, calculated for each quarter, of 3.16% over the annual yield on three-month Government of Canada treasury bills. The actual quarterly dividend rate for the January 1, 2024 to March 31, 2024 dividend period for the Series U Shares will be 2.04438% (8.2% on an annualized basis) and the dividend, if declared, for such dividend period will be $0.511095 per share, payable on March 31, 2024.”
[…] Thanks to Assiduous Reader Fuzzybear for bringing this to my attention. […]