RY.PR.X, the FixedReset issue announced last week had a very solid opening day, trading 725,748 shares in a range of 24.91-09 before closing at 25.02-05, 27×46.
Its vital statistics are:
| RY.PR.X | FixedReset | YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2039-04-01 Maturity Price : 23.14 Evaluated at bid price : 25.02 Bid-YTW : 6.11 % |
This is an issue sure to be at the centre of many trade errors over the course of its existence. A few years back, Royal Bank started a new numbering system for its preferreds, presumably in cooperation with the TSX: Series ‘AA’ has ticker RY.PR.A, Series ‘AB’ has ticker RY.PR.B and so on. It was great, and a lot better than giving Series N the symbol RY.PR.K, for instance.
But now we have Series AV having ticker RY.PR.X. I suspect that the TSX reserves the “V” suffix for USD issues, or perhaps they consider it too soon after the redemption of the old RY.PR.V (USD 250-million, Series K, redeemed in 2003) to recycle the ticker.
One way or another, it would appear a little more communication is in order.
[…] Recent new issue. YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2039-04-07 Maturity Price : 23.20 Evaluated at bid price : 25.21 Bid-YTW : 6.08 % […]
[…] Recent new issue. YTW SCENARIO Maturity Type : Call Maturity Date : 2014-09-23 Maturity Price : 25.00 Evaluated at bid price : 25.41 Bid-YTW : 5.98 % […]
[…] Recent new issue. YTW SCENARIO Maturity Type : Call Maturity Date : 2014-09-23 Maturity Price : 25.00 Evaluated at bid price : 25.65 Bid-YTW : 5.80 % […]
[…] Recent new issue. YTW SCENARIO Maturity Type : Call Maturity Date : 2014-09-23 Maturity Price : 25.00 Evaluated at bid price : 25.81 Bid-YTW : 5.66 % […]
[…] Recent new issue. YTW SCENARIO Maturity Type : Call Maturity Date : 2014-09-23 Maturity Price : 25.00 Evaluated at bid price : 25.95 Bid-YTW : 5.55 % […]
[…] Recent new issue. YTW SCENARIO Maturity Type : Call Maturity Date : 2014-09-23 Maturity Price : 25.00 Evaluated at bid price : 26.02 Bid-YTW : 5.50 % […]
[…] New issue […]