The new issue from Dundee Wealth Management, announced February 22, settled with a sigh today, closing at 24.80-90 on volume of 125,850 shares. It opened at 24.75 and managed to recover to 24.95 before finding its level. Scotia provided an afternoon flourish by crossing 50,000 shares at 24.90.
The issue has been entered into the HIMIPref™ database with a securityCode of A45150, replacing the preIssue code of P25007. A reorgDataEntry has been processed.
More later.
Later, more: I have updated the table of comparatives:
| Dundee Wealth New Issue & Comparitives | |||
| Data | DW.PR.A | BAM.PR.J | DC.PR.A |
| Price due to base-rate | 24.65 | 26.23 | 25.19 |
| Price due to short-term | -0.47 | -0.49 | -0.45 |
| Price due to long-term | 1.71 | 1.77 | 1.64 |
| Price to to Cumulative Dividends | 0.00 | 0.00 | 0.00 |
| Price due to SplitShareCorp | 0.00 | 0.00 | 0.00 |
| Price due to Retractibility | 1.09 | 1.20 | 0.99 |
| Price due to Liquidity | 0.80 | -0.17 | 0.00 |
| Price due to Floating Rate | 0.00 | 0.00 | 0.00 |
| Price due to Credit Spread (2) | 0.00 | -0.32 | 0.00 |
| Price due to Credit Spread (3) | -0.90 | 0.00 | -0.82 |
| Price due to Credit Spread (High) | 0.00 | 0.00 | 0.00 |
| Price due to Credit Spread (Low) | 0.00 | -0.27 | -0.22 |
| Price due to error | 0.01 | 0.04 | 0.07 |
| Curve Price (Taxable Curve) | 26.89 | 28.00 | 26.40 |
| Quote 3/13 | 24.80-90 | 27.82-97 | 25.35-50 |
| YTW (after tax) | 3.88% | 3.20% | 3.96% |
| YTW Date | 2017-3-12 | 2014-4-30 | 2016-6-29 |
| Credit Rating (DBRS) | Pfd-3 | Pfd-2(low) | Pfd-3(low) |
| YTW (Pre-Tax) | 4.88% | 4.04% | 4.97% |
| YTW Modified Duration (Pre-Tax) | 7.91 | 6.01 | 7.33 |
| YTW Pseudo-Convexity (Pre-Tax) | 0.2 | -3.3 | 0.2 |
[…] Two new issues were added to “Scraps” during the month since they did not qualify for the indices due to credit concerns: DW.PR.A on 3/13 and YPG.PR.A on 3/6. […]
[…] DW.PR.A soared on September 18, presumably on the grounds that the deal with Scotiabank made them a much better credit than their current Pfd-3 rating from DBRS. […]