{"id":26522,"date":"2014-10-09T18:07:10","date_gmt":"2014-10-09T23:07:10","guid":{"rendered":"http:\/\/prefblog.com\/?p=26522"},"modified":"2014-10-09T18:07:10","modified_gmt":"2014-10-09T23:07:10","slug":"na-pr-w-soft-on-unimpressive-volume","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=26522","title":{"rendered":"NA.PR.W Soft On Unimpressive Volume"},"content":{"rendered":"<p>National Bank of Canada <a href=\"https:\/\/www.nbc.ca\/en\/about-us\/news\/news-room\/press-releases\/2014\/20141009-National-Bank-of-Canada-Closing-300-Million-Preferred-Share-Offering.html\">has announced<\/a>:<\/p>\n<blockquote><p>that it has closed its domestic public offering of non-cumulative 5-year rate reset first preferred shares series 32 (the \u201cSeries 32 Preferred Shares\u201d). National Bank issued 12 million Series 32 Preferred Shares at a price of $25.00 per share to raise gross proceeds of $300 million.<\/p>\n<p> The offering was underwritten by a syndicate led by National Bank Financial Inc.<\/p>\n<p> The Series 32 Preferred Shares will commence trading on the Toronto Stock Exchange today under the ticker symbol NA.PR.W.<\/p>\n<p> The Series 32 Preferred Shares were issued under a prospectus supplement dated October 2, 2014 to National Bank&#8217;s short form base shelf prospectus dated October 5, 2012.<\/p><\/blockquote>\n<p>NA.PR.W will be tracked by HIMIPref&trade;. It is still <a href=\"http:\/\/dbrs.com\/issuer\/275\">rated Pfd-2(low) by DBRS<\/a>, as <a href=\"http:\/\/dbrs.com\/research\/269626\/dbrs-confirms-national-bank-at-aa-low-and-r-1-middle.html\">confirmed on July 7<\/a>, so despite being <a href=\"http:\/\/prefblog.com\/?p=26439\">considered junk by S&#038;P<\/a>, it will be added to the FixedResets subindex.<\/p>\n<p>The issue traded 740,000 shares today (consolidated exchanges) in a range of 24.76-97 before closing at 24.78-82, 1&#215;12. Vital statistics are:<\/p>\n<div align=\"center\">\n<table border=\"1\">\n<tr>\n<td>NA.PR.W<\/td>\n<td>FixedReset<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2044-10-09<br \/>\nMaturity Price  : 23.06<br \/>\nEvaluated at bid price : 24.78<br \/>\nBid-YTW : 3.77 %<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p><b>Update, 2014-10-11<\/b>: NA.PR.W is a FixedReset, 3.90%+225, <a href=\"http:\/\/prefblog.com\/?p=26415\">announced September 30<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>National Bank of Canada has announced: that it has closed its domestic public offering of non-cumulative 5-year rate reset first preferred shares series 32 (the \u201cSeries 32 Preferred Shares\u201d). National Bank issued 12 million Series &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-26522","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/26522","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=26522"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/26522\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=26522"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=26522"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=26522"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}