{"id":23487,"date":"2013-10-28T20:59:36","date_gmt":"2013-10-29T00:59:36","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=23487"},"modified":"2013-10-28T20:59:36","modified_gmt":"2013-10-29T00:59:36","slug":"bns-pr-b-very-small-premium-on-debut","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=23487","title":{"rendered":"BNS.PR.B: Very Small Premium On Debut"},"content":{"rendered":"

BNS.PR.B, a FloatingReset +170<\/a> just converted from BNS.PR.Q<\/a>, reached only a very small premium over BNS.PR.Q on its debut today.<\/p>\n

The issue traded 17,400 shares in a range of 24.70-15 before settling at 24.85-05, 1×11.<\/p>\n

BNS.PR.B will be tracked by HIMIPref™ and is temporarily assigned to the FixedReset subindex. When TD.PR.Z settles on October 31<\/a> all FloatingResets will be transferred from the FixedReset subindex to a new FloatingReset subindex.<\/p>\n

We can examine the comparables with the help of the Pairs Equivalency Calculator<\/a>:<\/p>\n

\n\n\n\n\n\n\n\n
FixedReset \/ FloatingReset Strong Pairs<\/td>\n<\/tr>\n
FixedReset<\/td>\nFloatingReset<\/td>\nNext
Exchange
Date<\/td>\n		Implied
3-Month
Bill Rate<\/td>\n<\/tr>\n
BNS.PR.P<\/td>\nBNS.PR.A<\/td>\n2018-4-26<\/td>\n2.53%<\/td>\n<\/tr>\n
TD.PR.S<\/td>\nTD.PR.T<\/td>\n2018-7-31<\/td>\n2.37%<\/td>\n<\/tr>\n
BMO.PR.M<\/td>\nBMO.PR.R<\/td>\n2018-8-25<\/td>\n2.13%<\/td>\n<\/tr>\n
BNS.PR.Q<\/td>\nBNS.PR.B<\/td>\n2018-10-25<\/td>\n1.98%<\/td>\n<\/tr>\n<\/table>\n<\/div>\n

So BNS.PR.B has the smallest premium of the lot. It will be most interesting to see whether the bloom is off the rose as far as FloatingResets are concerned!<\/p>\n

Vital Statistics are:<\/p>\n

\n\n\n
BNS.PR.B<\/td>\nFixedReset<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 24.85
\nBid-YTW : 2.62 %<\/td>\n<\/tr>\n<\/table>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

BNS.PR.B, a FloatingReset +170 just converted from BNS.PR.Q, reached only a very small premium over BNS.PR.Q on its debut today. The issue traded 17,400 shares in a range of 24.70-15 before settling at 24.85-05, 1×11. …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-23487","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/23487","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=23487"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/23487\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=23487"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=23487"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=23487"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}