{"id":32195,"date":"2006-07-20T22:14:23","date_gmt":"2006-07-21T02:14:23","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=28"},"modified":"2006-07-20T22:14:23","modified_gmt":"2006-07-21T02:14:23","slug":"crazy-pricing-rypra-vs-ryprb-on-2006-07-20","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=32195","title":{"rendered":"Crazy pricing! RY.PR.A vs. RY.PR.B on 2006-07-20"},"content":{"rendered":"<p>OK, so the new issue was very badly received and the underwriters didn&#8217;t try to catch the falling knife and support the issue during the distribution phase.<\/p>\n<p>\u00a0But these relative prices are crazy! RY.PR.A started trading just a few months ago (and <a href=\"http:\/\/www.himivest.com\/media\/060331RY.pdf\">I didn&#8217;t like them either<\/a>) and the terms of these two issues are virtually identical: the redemption schedule is simply shifted three months along, the &#8216;A&#8217; issue pays a dividend of $1.1125 annually and the &#8216;B&#8217; issue pays $1.1750.<\/p>\n<p>So basically, you get 6.25-cents more per share in annual dividend with the B.<\/p>\n<p>Closing Quotation of A : 24.40-45<\/p>\n<p>Closing Quotation of B : 24.30-45<\/p>\n<p>\u00a0Let&#8217;s not ever call the pref market efficient!\n<\/p>\n<p><!--1534daeb92099b54e1f4289d30ed822a--><\/p>\n","protected":false},"excerpt":{"rendered":"<p>OK, so the new issue was very badly received and the underwriters didn&#8217;t try to catch the falling knife and support the issue during the distribution phase. \u00a0But these relative prices are crazy! RY.PR.A started &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-32195","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/32195","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=32195"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/32195\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=32195"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=32195"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=32195"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}