| 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 | 0.9174 % | 2,100.7 |
| FixedFloater | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.9174 % | 4,029.2 |
| Floater | 11.06 % | 11.18 % | 63,717 | 8.74 | 1 | 0.9174 % | 2,322.0 |
| OpRet | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.0296 % | 3,459.9 |
| SplitShare | 4.86 % | 6.83 % | 29,691 | 1.60 | 7 | -0.0296 % | 4,131.9 |
| Interest-Bearing | 0.00 % | 0.00 % | 0 | 0.00 | 0 | -0.0296 % | 3,223.9 |
| Perpetual-Premium | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.0421 % | 2,619.3 |
| Perpetual-Discount | 6.57 % | 6.76 % | 55,141 | 12.86 | 28 | 0.0421 % | 2,856.2 |
| FixedReset Disc | 5.33 % | 7.45 % | 124,478 | 12.02 | 49 | 0.2947 % | 2,504.1 |
| Insurance Straight | 6.50 % | 6.56 % | 56,947 | 13.16 | 20 | -0.9299 % | 2,792.6 |
| FloatingReset | 9.68 % | 9.48 % | 36,903 | 10.03 | 3 | 0.7495 % | 2,627.6 |
| FixedReset Prem | 6.41 % | 6.44 % | 235,314 | 12.51 | 7 | -0.2164 % | 2,509.5 |
| FixedReset Bank Non | 0.00 % | 0.00 % | 0 | 0.00 | 0 | 0.2947 % | 2,559.7 |
| FixedReset Ins Non | 5.46 % | 7.02 % | 103,948 | 12.72 | 14 | -0.3177 % | 2,604.8 |
| Performance Highlights | |||
| Issue | Index | Change | Notes |
| GWO.PR.T | Insurance Straight | -11.43 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-06-21 Maturity Price : 17.05 Evaluated at bid price : 17.05 Bid-YTW : 7.61 % |
| IFC.PR.I | Insurance Straight | -7.87 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-06-21 Maturity Price : 19.31 Evaluated at bid price : 19.31 Bid-YTW : 7.04 % |
| IFC.PR.F | Insurance Straight | -7.00 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-06-21 Maturity Price : 19.25 Evaluated at bid price : 19.25 Bid-YTW : 6.93 % |
| GWO.PR.H | Insurance Straight | -2.34 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-06-21 Maturity Price : 18.35 Evaluated at bid price : 18.35 Bid-YTW : 6.65 % |
| GWO.PR.N | FixedReset Ins Non | -2.17 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-06-21 Maturity Price : 13.50 Evaluated at bid price : 13.50 Bid-YTW : 8.00 % |
| SLF.PR.D | Insurance Straight | -2.15 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-06-21 Maturity Price : 18.20 Evaluated at bid price : 18.20 Bid-YTW : 6.15 % |
| MFC.PR.Q | FixedReset Ins Non | -1.56 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-06-21 Maturity Price : 21.74 Evaluated at bid price : 22.07 Bid-YTW : 6.73 % |
| PWF.PR.Z | Perpetual-Discount | -1.53 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-06-21 Maturity Price : 19.25 Evaluated at bid price : 19.25 Bid-YTW : 6.82 % |
| MFC.PR.B | Insurance Straight | -1.46 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-06-21 Maturity Price : 18.87 Evaluated at bid price : 18.87 Bid-YTW : 6.21 % |
| CM.PR.S | FixedReset Disc | -1.14 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-06-21 Maturity Price : 23.40 Evaluated at bid price : 23.40 Bid-YTW : 6.33 % |
| MFC.PR.N | FixedReset Ins Non | -1.04 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-06-21 Maturity Price : 19.00 Evaluated at bid price : 19.00 Bid-YTW : 7.34 % |
| TD.PF.A | FixedReset Disc | 1.07 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-06-21 Maturity Price : 22.83 Evaluated at bid price : 23.67 Bid-YTW : 5.88 % |
| PWF.PR.T | FixedReset Disc | 1.08 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-06-21 Maturity Price : 21.31 Evaluated at bid price : 21.59 Bid-YTW : 6.68 % |
| CU.PR.I | FixedReset Disc | 1.11 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-06-21 Maturity Price : 22.35 Evaluated at bid price : 22.75 Bid-YTW : 7.48 % |
| SLF.PR.J | FloatingReset | 1.29 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-06-21 Maturity Price : 16.51 Evaluated at bid price : 16.51 Bid-YTW : 9.40 % |
| BN.PR.X | FixedReset Disc | 1.31 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-06-21 Maturity Price : 15.50 Evaluated at bid price : 15.50 Bid-YTW : 8.15 % |
| GWO.PR.Y | Insurance Straight | 1.34 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-06-21 Maturity Price : 17.45 Evaluated at bid price : 17.45 Bid-YTW : 6.49 % |
| RY.PR.M | FixedReset Disc | 1.35 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-06-21 Maturity Price : 21.93 Evaluated at bid price : 22.50 Bid-YTW : 6.33 % |
| BN.PF.H | FixedReset Disc | 1.41 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-06-21 Maturity Price : 22.60 Evaluated at bid price : 23.01 Bid-YTW : 7.87 % |
| GWO.PR.M | Insurance Straight | 1.46 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-06-21 Maturity Price : 22.03 Evaluated at bid price : 22.26 Bid-YTW : 6.54 % |
| BN.PR.T | FixedReset Disc | 1.65 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-06-21 Maturity Price : 15.40 Evaluated at bid price : 15.40 Bid-YTW : 8.58 % |
| BN.PF.E | FixedReset Disc | 1.73 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-06-21 Maturity Price : 17.10 Evaluated at bid price : 17.10 Bid-YTW : 8.46 % |
| BN.PF.G | FixedReset Disc | 1.73 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-06-21 Maturity Price : 17.60 Evaluated at bid price : 17.60 Bid-YTW : 8.49 % |
| BN.PR.M | Perpetual-Discount | 2.92 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-06-21 Maturity Price : 17.60 Evaluated at bid price : 17.60 Bid-YTW : 6.79 % |
| BN.PF.C | Perpetual-Discount | 4.01 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-06-21 Maturity Price : 17.39 Evaluated at bid price : 17.39 Bid-YTW : 7.02 % |
| GWO.PR.Q | Insurance Straight | 11.48 % | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-06-21 Maturity Price : 19.62 Evaluated at bid price : 19.62 Bid-YTW : 6.60 % |
| Volume Highlights | |||
| Issue | Index | Shares Traded |
Notes |
| RY.PR.H | FixedReset Disc | 276,999 | YTW SCENARIO Maturity Type : Call Maturity Date : 2024-08-24 Maturity Price : 25.00 Evaluated at bid price : 24.99 Bid-YTW : 5.48 % |
| TD.PF.B | FixedReset Disc | 142,937 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-06-21 Maturity Price : 23.16 Evaluated at bid price : 24.36 Bid-YTW : 5.76 % |
| CM.PR.O | FixedReset Disc | 135,900 | YTW SCENARIO Maturity Type : Call Maturity Date : 2024-07-31 Maturity Price : 25.00 Evaluated at bid price : 25.09 Bid-YTW : 5.23 % |
| RY.PR.M | FixedReset Disc | 54,000 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-06-21 Maturity Price : 21.93 Evaluated at bid price : 22.50 Bid-YTW : 6.33 % |
| SLF.PR.H | FixedReset Ins Non | 50,690 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-06-21 Maturity Price : 18.25 Evaluated at bid price : 18.25 Bid-YTW : 7.02 % |
| BN.PF.F | FixedReset Disc | 36,000 | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2054-06-21 Maturity Price : 18.65 Evaluated at bid price : 18.65 Bid-YTW : 8.31 % |
| There were 18 other index-included issues trading in excess of 10,000 shares. | |||
| Wide Spread Highlights | ||
| Issue | Index | Quote Data and Yield Notes |
| GWO.PR.T | Insurance Straight | Quote: 17.05 – 19.80 Spot Rate : 2.7500 Average : 1.6759 YTW SCENARIO |
| MFC.PR.I | FixedReset Ins Non | Quote: 22.42 – 24.55 Spot Rate : 2.1300 Average : 1.3520 YTW SCENARIO |
| BN.PF.F | FixedReset Disc | Quote: 18.65 – 20.58 Spot Rate : 1.9300 Average : 1.1656 YTW SCENARIO |
| CU.PR.D | Perpetual-Discount | Quote: 18.80 – 20.50 Spot Rate : 1.7000 Average : 1.0123 YTW SCENARIO |
| IFC.PR.I | Insurance Straight | Quote: 19.31 – 21.50 Spot Rate : 2.1900 Average : 1.5047 YTW SCENARIO |
| IFC.PR.F | Insurance Straight | Quote: 19.25 – 21.00 Spot Rate : 1.7500 Average : 1.2044 YTW SCENARIO |
TD doing an LRCN big enough to redeem TD.PF.M and TD.PF.B…
While I don’t doubt you, IrateAR, can you share a link? I cannot see that news on TDs website or other sources…maybe you have access to a Bloomberg terminal?
Yeah I’m not aware of a public link yet they’ll press release it when they feel like. The price moves of TD.PF.A/B/C are a sort of confirmation in themselves.
[…] As noted by Assiduous Reade IrateAR, this is sufficient size to redeem both TD.PF.M (18-million shares = CAD 450-million par value) and TD.PF.B (20-million shares = 500-million par value), given that USD 750-million comes to just over CAD 1-billion at current exchange rates. Both issues are redeemable 2024-7-31. TD.PF.M will come as no surprise at all, given its Issue Reset Spread of +356, but TD.PF.B … well, it’s Issue Reset Spread is a mere +227 and while it’s been trading at a much lower yield to perpetuity than its siblings for some time, it was nevertheless up 2.21% on the day (close/close). A nice win for the speculators! […]