{"id":32869,"date":"2016-04-01T23:38:50","date_gmt":"2016-04-02T04:38:50","guid":{"rendered":"http:\/\/prefblog.com\/?p=32869"},"modified":"2016-04-01T23:38:50","modified_gmt":"2016-04-02T04:38:50","slug":"fn-pr-b-listed-no-trading-bid-without","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=32869","title":{"rendered":"FN.PR.B Listed: No Trading, Bid Without"},"content":{"rendered":"<p>Assiduous Readers will remember that FN.PR.B has sprung into existence as a result of a <a href=\"http:\/\/prefblog.com\/?p=32833\">28% conversion from FN.PR.A<\/a>. I <a href=\"http:\/\/prefblog.com\/?p=32716\">recommended against conversion<\/a>. FN.PR.A has <a href=\"http:\/\/prefblog.com\/?p=32566\">reset for the next five years at 2.79%<\/a>, while FN.PR.B will pay 3-Month Bills +207bp, reset quarterly.<\/p>\n<p>FN.PR.B was listed today, but there was no trading and no offer. This issue will be tracked by HIMIPref&trade; but has been relegated to the Scraps index on credit concerns.<\/p>\n<p>Vital statistics for the two issues are:<\/p>\n<div align=\"center\">\n<table border=\"1\">\n<tr>\n<td>FN.PR.A<\/td>\n<td>FixedReset<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2046-04-01<br \/>\nMaturity Price  : 11.81<br \/>\nEvaluated at bid price : 11.81<br \/>\nBid-YTW : 5.92 %<\/td>\n<\/tr>\n<tr>\n<td>FN.PR.B<\/td>\n<td>FloatingReset<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2046-04-01<br \/>\nMaturity Price  : 10.60<br \/>\nEvaluated at bid price : 10.60<br \/>\nBid-YTW : 5.95 %<\/td>\n<\/tr>\n<\/table>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Assiduous Readers will remember that FN.PR.B has sprung into existence as a result of a 28% conversion from FN.PR.A. I recommended against conversion. FN.PR.A has reset for the next five years at 2.79%, while FN.PR.B &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-32869","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/32869","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=32869"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/32869\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=32869"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=32869"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=32869"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}