Great-West Lifeco Inc. has announced:
the completion of its offering of 8,000,000 5.15% Non-Cumulative First Preferred Shares, Series T through a syndicate of underwriters co-led by BMO Capital Markets, CIBC Capital Markets, Scotiabank and TD Securities Inc. for gross proceeds of $200 million. The Series T Shares will be listed for trading on the Toronto Stock Exchange under the symbol “GWO.PR.T”.
GWO.PR.T is a Straight Perpetual, 5.15%, announced 2017-05-09. The issue will be tracked by HIMIPref™ and has been assigned to the DeemedRetractible subindex.
As this issue is not NVCC compliant, it will be analyzed as a DeemedRetractible.
The issue traded 837,263 shares in a range of 24.95-05 before closing at 24.95-96. Vital statistics are:
| GWO.PR.T | Deemed-Retractible | YTW SCENARIO Maturity Type : Hard Maturity Maturity Date : 2025-01-31 Maturity Price : 25.00 Evaluated at bid price : 24.95 Bid-YTW : 5.21 % |
There has been a little flattening in the curve (i.e., a decline of Implied Volatility) in the Implied Volatility for Straights analysis:
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