A sparkling debut for PWF.PR.L!

Well – sometimes I get things right! In the post Power Financial Series L, I made the prediction that “I think it will go to an immediate premium over issue price”.

┬áSo far, so good! The issue traded 442,125 shares today (a value of over $11-million) and closed with a quote of 25.30-35. I suspect that there’s more to come, but I’ll wait until I’ve updated HIMIPref with the full universe of prices for August 4 before I start flapping my yap.

4 Responses to “A sparkling debut for PWF.PR.L!”

  1. […] Heavy trading on its first day! See A sparkling debut for PWF.PR.L! […]

  2. […] So, today’s new issue, featured in A sparkling debut for PWF.PR.L!, is now incorporated in the index – and has contributed its little share to the gain in today’s PerpetualPremium index […]

  3. […] I still like this issue, with its pre-tax YTW of 4.49% based on a bid of $26.12 and a call in 2015. The modified duration of its YTW scenario is 7.34 years, the highest in the PerpetualPremium index. […]

  4. […] Nesbitt crossed 200,000 at 27.50, then another 100,000 at the same price three hours later. Now with a pre-tax bid-YTW of 2.44% based on a bid of 27.43 and a call 2008-5-30 at $26.00. Pays 1.50, so is there really a competent and confident school of thought that thinks it will last until a call at 25.00 2012-5-30, yielding 4.19%? The relatively recent PWF.PR.L pays 1.275. […]

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