{"id":23521,"date":"2013-11-01T01:16:34","date_gmt":"2013-11-01T05:16:34","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=23521"},"modified":"2013-11-01T01:16:34","modified_gmt":"2013-11-01T05:16:34","slug":"td-pr-z-tiny-premium-on-commencement","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=23521","title":{"rendered":"TD.PR.Z: Tiny Premium on Commencement"},"content":{"rendered":"<p>TD.PR.Z, a <a href=\"http:\/\/www.prefblog.com\/?p=23225\">FloatingReset +168<\/a> <a href=\"http:\/\/www.prefblog.com\/?p=23440\">just converted from TD.PR.Y<\/a>, reached only a very small premium over TD.PR.Y on its debut today.<\/p>\n<p>The issue traded 8,500 shares in a range of 25.00-09 before settling at 25.00-08, 15&#215;5.<\/p>\n<p>TD.PR.Z will be tracked by HIMIPref&trade; and is assigned to the brand-new FloatingReset subindex.<\/p>\n<p>We can examine the comparables with the help of the <a href=\"http:\/\/www.prefblog.com\/?p=11288\">Pairs Equivalency Calculator<\/a>:<\/p>\n<div align=\"center\">\n<table border=\"1\">\n<tr>\n<td colspan=\"4\">FixedReset \/ FloatingReset Strong Pairs<\/td>\n<\/tr>\n<tr>\n<td>FixedReset<\/td>\n<td>FloatingReset<\/td>\n<td>Next<br \/>Exchange<br \/>Date<\/td>\n<td>Implied<br \/>3-Month<br \/>Bill Rate<\/td>\n<\/tr>\n<tr>\n<td>BNS.PR.P<\/td>\n<td>BNS.PR.A<\/td>\n<td>2018-4-26<\/td>\n<td>2.54%<\/td>\n<\/tr>\n<tr>\n<td>TD.PR.S<\/td>\n<td>TD.PR.T<\/td>\n<td>2018-7-31<\/td>\n<td>2.29%<\/td>\n<\/tr>\n<tr>\n<td>BMO.PR.M<\/td>\n<td>BMO.PR.R<\/td>\n<td>2018-8-25<\/td>\n<td>2.13%<\/td>\n<\/tr>\n<tr>\n<td>BNS.PR.Q<\/td>\n<td>BNS.PR.B<\/td>\n<td>2018-10-25<\/td>\n<td>2.03%<\/td>\n<\/tr>\n<tr>\n<td>TD.PR.Y<\/td>\n<td>TD.PR.Z<\/td>\n<td>2018-10-31<\/td>\n<td>2.01%<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p>So TD.PR.Y has the smallest premium of the lot, eclipsed even by the previous low of BNS.PR.Q\/BNS.PR.B Is the bloom is off the rose as far as FloatingResets are concerned?<\/p>\n<p>Vital Statistics are:<\/p>\n<div align=\"center\">\n<table border=\"1\">\n<tr>\n<td>TD.PR.Z<\/td>\n<td>FloatingReset<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Hard Maturity<br \/>\nMaturity Date\t: 2022-01-31<br \/>\nMaturity Price  : 25.00<br \/>\nEvaluated at bid price : 25.00<br \/>\nBid-YTW : 2.52 %<\/td>\n<\/tr>\n<\/table>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>TD.PR.Z, a FloatingReset +168 just converted from TD.PR.Y, reached only a very small premium over TD.PR.Y on its debut today. The issue traded 8,500 shares in a range of 25.00-09 before settling at 25.00-08, 15&#215;5. &hellip;<\/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-23521","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/23521","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=23521"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/23521\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=23521"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=23521"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=23521"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}