{"id":33305,"date":"2016-07-04T21:08:51","date_gmt":"2016-07-05T02:08:51","guid":{"rendered":"http:\/\/prefblog.com\/?p=33305"},"modified":"2016-07-04T21:08:51","modified_gmt":"2016-07-05T02:08:51","slug":"sjr-pr-b","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=33305","title":{"rendered":"SJR.PR.B Listed With Some Trading"},"content":{"rendered":"

SJR.PR.B, the new FloatingReset that has come into existence via partial exchange from SJR.PR.A, is now trading.<\/p>\n

The 17% conversion rate<\/a> has been reported previously; Assiduous Readers will remember that I recommended against conversion<\/a>. SJR.PR.A now pays 2.791%<\/a> (on par) until 2021-6-30, while SJR.PR.B will pay 3-month bills +200bp, reset quarterly.<\/p>\n

SJR.PR.B closed July 4 with a quote of 12.01-50, 7×3. Surprisingly, 1,687 shares traded in a range of 12.30-00.<\/p>\n

Vital statistics are:<\/p>\n

\n\n\n\n
SJR.PR.A<\/td>\nFloatingReset<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2046-07-04
\nMaturity Price : 13.26
\nEvaluated at bid price : 13.26
\nBid-YTW : 4.98 %<\/td>\n<\/tr>\n
SJR.PR.B<\/td>\nFloatingReset<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2046-07-04
\nMaturity Price : 12.01
\nEvaluated at bid price : 12.01
\nBid-YTW : 5.23 %<\/td>\n<\/tr>\n<\/table>\n<\/div>\n

The $1.25 price difference between the two elements of the Strong Pair (I told you not to convert!) implies a break-even three-month bill rate of -1.03% – at the low end of the range defined by the other junk Strong Pairs<\/a>.<\/p>\n

\"pairs_FR_160704\"<\/a>
Click for Big<\/i><\/div>\n","protected":false},"excerpt":{"rendered":"

SJR.PR.B, the new FloatingReset that has come into existence via partial exchange from SJR.PR.A, is now trading. The 17% conversion rate has been reported previously; Assiduous Readers will remember that I recommended against conversion. SJR.PR.A …<\/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-33305","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/33305","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=33305"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/33305\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=33305"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=33305"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=33305"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}