{"id":43456,"date":"2022-05-26T19:45:49","date_gmt":"2022-05-27T00:45:49","guid":{"rendered":"https:\/\/prefblog.com\/?p=43456"},"modified":"2022-05-26T19:45:49","modified_gmt":"2022-05-27T00:45:49","slug":"may-26-2022","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=43456","title":{"rendered":"May 26, 2022"},"content":{"rendered":"

I mentioned a new LRCN issued by iA Financial yesterday<\/a>, but had no further information. A press release<\/a> has been issued; Assiduous Reader skeptical<\/i> has kindly provided the text<\/a>.<\/p>\n

The LRCN is a FixedReset, 6.611%+400, paid as interest, which is the equivalent of a dividend paying FixedReset, 5.085%+308<\/s> 240. That’s a wider spread than the soon to be redeemed IAF.PR.G<\/a>, which had been scheduled to reset at +285; but on the other hand<\/s> it moves the liability to higher up on the capital structure (to the holdco from the opco) as well as diversifying the firm’s funding base … and issuers like to diversify their funders as much as funders like to diversify their issuers!<\/p>\n

Of course, in the present case, a lot of the new funders will have been put in that position by sleazy or ignorant portfolio management firms, eager to stuff preferred shares (there is no meaningful difference between a preferred share and a LRCN – only technicalities of tax law, which won’t help much when the shit hits the fan) into a bond portfolio, thanks to the naivety of gullible clients with a badly written mandate … but who cares? OSFI wants gullible bond investors to take unsuspected risks, because, um, Canada.<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
HIMIPref\u2122 Preferred Indices
\nThese values reflect the December 2008 revision of the HIMIPref\u2122 Indices<\/strong>
\nValues are provisional and are finalized monthly<\/td>\n<\/tr>\n
Index<\/td>\nMean
\nCurrent
\nYield
\n(at bid)<\/td>\n		Median
\nYTW<\/td>\n		Median
\nAverage
\nTrading
\nValue<\/td>\n		Median
\nMod Dur
\n(YTW)<\/td>\n		Issues<\/td>\nDay’s Perf.<\/td>\nIndex Value<\/td>\n<\/tr>\n
Ratchet<\/td>\n3.94 %<\/td>\n4.60 %<\/td>\n17,389<\/td>\n18.12<\/td>\n1<\/td>\n0.6149 %<\/td>\n2,564.2<\/td>\n<\/tr>\n
FixedFloater<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.8182 %<\/td>\n4,993.3<\/td>\n<\/tr>\n
Floater<\/td>\n4.13 %<\/td>\n4.16 %<\/td>\n41,080<\/td>\n17.03<\/td>\n3<\/td>\n0.8182 %<\/td>\n2,877.7<\/td>\n<\/tr>\n
OpRet<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.1399 %<\/td>\n3,509.7<\/td>\n<\/tr>\n
SplitShare<\/td>\n4.85 %<\/td>\n5.22 %<\/td>\n39,906<\/td>\n3.24<\/td>\n8<\/td>\n-0.1399 %<\/td>\n4,191.4<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.1399 %<\/td>\n3,270.3<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.90 %<\/td>\n5.96 %<\/td>\n65,318<\/td>\n13.92<\/td>\n1<\/td>\n0.0000 %<\/td>\n2,958.2<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n5.71 %<\/td>\n5.81 %<\/td>\n61,959<\/td>\n14.18<\/td>\n35<\/td>\n0.7066 %<\/td>\n3,254.2<\/td>\n<\/tr>\n
FixedReset Disc<\/td>\n4.54 %<\/td>\n5.77 %<\/td>\n117,603<\/td>\n14.41<\/td>\n58<\/td>\n0.5199 %<\/td>\n2,557.6<\/td>\n<\/tr>\n
Insurance Straight<\/td>\n5.62 %<\/td>\n5.79 %<\/td>\n88,452<\/td>\n14.13<\/td>\n20<\/td>\n1.0534 %<\/td>\n3,194.6<\/td>\n<\/tr>\n
FloatingReset<\/td>\n4.65 %<\/td>\n4.96 %<\/td>\n56,673<\/td>\n15.50<\/td>\n2<\/td>\n1.8663 %<\/td>\n2,658.2<\/td>\n<\/tr>\n
FixedReset Prem<\/td>\n5.09 %<\/td>\n5.09 %<\/td>\n117,720<\/td>\n2.05<\/td>\n9<\/td>\n0.1649 %<\/td>\n2,590.9<\/td>\n<\/tr>\n
FixedReset Bank Non<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n0.5199 %<\/td>\n2,614.4<\/td>\n<\/tr>\n
FixedReset Ins Non<\/td>\n4.44 %<\/td>\n5.65 %<\/td>\n70,683<\/td>\n14.51<\/td>\n15<\/td>\n0.2483 %<\/td>\n2,702.9<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Performance Highlights<\/strong><\/td>\n<\/tr>\n
Issue<\/td>\nIndex<\/td>\nChange<\/td>\nNotes<\/td>\n<\/tr>\n
PVS.PR.I<\/td>\nSplitShare<\/td>\n-1.62 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-10-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 24.31
\nBid-YTW : 5.62 %<\/td>\n<\/tr>\n
BIP.PR.A<\/td>\nFixedReset Disc<\/td>\n-1.32 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-26
\nMaturity Price : 22.10
\nEvaluated at bid price : 22.50
\nBid-YTW : 6.51 %<\/td>\n<\/tr>\n
TD.PF.D<\/td>\nFixedReset Disc<\/td>\n-1.01 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-26
\nMaturity Price : 21.30
\nEvaluated at bid price : 21.60
\nBid-YTW : 5.83 %<\/td>\n<\/tr>\n
PWF.PR.S<\/td>\nPerpetual-Discount<\/td>\n1.02 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-26
\nMaturity Price : 20.81
\nEvaluated at bid price : 20.81
\nBid-YTW : 5.84 %<\/td>\n<\/tr>\n
IFC.PR.A<\/td>\nFixedReset Ins Non<\/td>\n1.03 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-26
\nMaturity Price : 19.60
\nEvaluated at bid price : 19.60
\nBid-YTW : 5.65 %<\/td>\n<\/tr>\n
POW.PR.A<\/td>\nPerpetual-Discount<\/td>\n1.05 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-26
\nMaturity Price : 23.85
\nEvaluated at bid price : 24.10
\nBid-YTW : 5.89 %<\/td>\n<\/tr>\n
BIP.PR.F<\/td>\nFixedReset Prem<\/td>\n1.07 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-26
\nMaturity Price : 23.19
\nEvaluated at bid price : 23.60
\nBid-YTW : 5.95 %<\/td>\n<\/tr>\n
FTS.PR.K<\/td>\nFixedReset Disc<\/td>\n1.10 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-26
\nMaturity Price : 18.45
\nEvaluated at bid price : 18.45
\nBid-YTW : 6.32 %<\/td>\n<\/tr>\n
CM.PR.P<\/td>\nFixedReset Disc<\/td>\n1.20 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-26
\nMaturity Price : 21.15
\nEvaluated at bid price : 21.15
\nBid-YTW : 5.66 %<\/td>\n<\/tr>\n
SLF.PR.D<\/td>\nInsurance Straight<\/td>\n1.22 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-26
\nMaturity Price : 20.70
\nEvaluated at bid price : 20.70
\nBid-YTW : 5.47 %<\/td>\n<\/tr>\n
PWF.PR.L<\/td>\nPerpetual-Discount<\/td>\n1.24 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-26
\nMaturity Price : 21.74
\nEvaluated at bid price : 21.99
\nBid-YTW : 5.86 %<\/td>\n<\/tr>\n
PWF.PR.R<\/td>\nPerpetual-Discount<\/td>\n1.25 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-26
\nMaturity Price : 23.21
\nEvaluated at bid price : 23.51
\nBid-YTW : 5.91 %<\/td>\n<\/tr>\n
TRP.PR.E<\/td>\nFixedReset Disc<\/td>\n1.26 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-26
\nMaturity Price : 19.30
\nEvaluated at bid price : 19.30
\nBid-YTW : 6.33 %<\/td>\n<\/tr>\n
MFC.PR.J<\/td>\nFixedReset Ins Non<\/td>\n1.27 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-26
\nMaturity Price : 23.23
\nEvaluated at bid price : 23.85
\nBid-YTW : 5.49 %<\/td>\n<\/tr>\n
SLF.PR.C<\/td>\nInsurance Straight<\/td>\n1.33 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-26
\nMaturity Price : 20.59
\nEvaluated at bid price : 20.59
\nBid-YTW : 5.50 %<\/td>\n<\/tr>\n
GWO.PR.P<\/td>\nInsurance Straight<\/td>\n1.33 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-26
\nMaturity Price : 23.27
\nEvaluated at bid price : 23.57
\nBid-YTW : 5.81 %<\/td>\n<\/tr>\n
PWF.PR.E<\/td>\nPerpetual-Discount<\/td>\n1.34 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-26
\nMaturity Price : 23.22
\nEvaluated at bid price : 23.52
\nBid-YTW : 5.90 %<\/td>\n<\/tr>\n
PWF.PR.P<\/td>\nFixedReset Disc<\/td>\n1.35 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-26
\nMaturity Price : 15.00
\nEvaluated at bid price : 15.00
\nBid-YTW : 6.27 %<\/td>\n<\/tr>\n
RY.PR.H<\/td>\nFixedReset Disc<\/td>\n1.37 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-26
\nMaturity Price : 21.50
\nEvaluated at bid price : 21.50
\nBid-YTW : 5.58 %<\/td>\n<\/tr>\n
POW.PR.G<\/td>\nPerpetual-Discount<\/td>\n1.46 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-26
\nMaturity Price : 24.00
\nEvaluated at bid price : 24.25
\nBid-YTW : 5.85 %<\/td>\n<\/tr>\n
GWO.PR.Y<\/td>\nInsurance Straight<\/td>\n1.50 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-26
\nMaturity Price : 20.35
\nEvaluated at bid price : 20.35
\nBid-YTW : 5.62 %<\/td>\n<\/tr>\n
TD.PF.A<\/td>\nFixedReset Disc<\/td>\n1.53 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-26
\nMaturity Price : 21.22
\nEvaluated at bid price : 21.22
\nBid-YTW : 5.61 %<\/td>\n<\/tr>\n
PWF.PR.K<\/td>\nPerpetual-Discount<\/td>\n1.56 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-26
\nMaturity Price : 21.50
\nEvaluated at bid price : 21.50
\nBid-YTW : 5.83 %<\/td>\n<\/tr>\n
BMO.PR.E<\/td>\nFixedReset Disc<\/td>\n1.66 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-26
\nMaturity Price : 24.08
\nEvaluated at bid price : 24.44
\nBid-YTW : 5.45 %<\/td>\n<\/tr>\n
SLF.PR.E<\/td>\nInsurance Straight<\/td>\n1.71 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-26
\nMaturity Price : 20.86
\nEvaluated at bid price : 20.86
\nBid-YTW : 5.49 %<\/td>\n<\/tr>\n
GWO.PR.H<\/td>\nInsurance Straight<\/td>\n1.77 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-26
\nMaturity Price : 21.25
\nEvaluated at bid price : 21.25
\nBid-YTW : 5.81 %<\/td>\n<\/tr>\n
BAM.PR.M<\/td>\nPerpetual-Discount<\/td>\n1.78 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-26
\nMaturity Price : 21.17
\nEvaluated at bid price : 21.17
\nBid-YTW : 5.71 %<\/td>\n<\/tr>\n
RY.PR.J<\/td>\nFixedReset Disc<\/td>\n1.83 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-26
\nMaturity Price : 21.90
\nEvaluated at bid price : 22.20
\nBid-YTW : 5.68 %<\/td>\n<\/tr>\n
POW.PR.D<\/td>\nPerpetual-Discount<\/td>\n1.83 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-26
\nMaturity Price : 21.97
\nEvaluated at bid price : 22.20
\nBid-YTW : 5.70 %<\/td>\n<\/tr>\n
BAM.PR.N<\/td>\nPerpetual-Discount<\/td>\n1.93 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-26
\nMaturity Price : 21.15
\nEvaluated at bid price : 21.15
\nBid-YTW : 5.71 %<\/td>\n<\/tr>\n
PWF.PR.F<\/td>\nPerpetual-Discount<\/td>\n2.01 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-26
\nMaturity Price : 22.55
\nEvaluated at bid price : 22.80
\nBid-YTW : 5.81 %<\/td>\n<\/tr>\n
BAM.PR.K<\/td>\nFloater<\/td>\n2.06 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-26
\nMaturity Price : 13.40
\nEvaluated at bid price : 13.40
\nBid-YTW : 4.23 %<\/td>\n<\/tr>\n
NA.PR.S<\/td>\nFixedReset Disc<\/td>\n2.16 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-26
\nMaturity Price : 21.78
\nEvaluated at bid price : 22.27
\nBid-YTW : 5.58 %<\/td>\n<\/tr>\n
BNS.PR.I<\/td>\nFixedReset Disc<\/td>\n2.51 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-26
\nMaturity Price : 24.19
\nEvaluated at bid price : 24.50
\nBid-YTW : 5.22 %<\/td>\n<\/tr>\n
TRP.PR.C<\/td>\nFixedReset Disc<\/td>\n2.73 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-26
\nMaturity Price : 13.93
\nEvaluated at bid price : 13.93
\nBid-YTW : 6.68 %<\/td>\n<\/tr>\n
MFC.PR.C<\/td>\nInsurance Straight<\/td>\n2.85 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-26
\nMaturity Price : 20.60
\nEvaluated at bid price : 20.60
\nBid-YTW : 5.47 %<\/td>\n<\/tr>\n
GWO.PR.T<\/td>\nInsurance Straight<\/td>\n3.16 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-26
\nMaturity Price : 22.49
\nEvaluated at bid price : 22.85
\nBid-YTW : 5.71 %<\/td>\n<\/tr>\n
TRP.PR.F<\/td>\nFloatingReset<\/td>\n3.37 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-26
\nMaturity Price : 16.85
\nEvaluated at bid price : 16.85
\nBid-YTW : 4.96 %<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n\n
Volume Highlights<\/strong><\/td>\n<\/tr>\n
Issue<\/td>\nIndex<\/td>\nShares
\nTraded<\/td>\n		Notes<\/td>\n<\/tr>\n
NA.PR.C<\/td>\nFixedReset Disc<\/td>\n92,300<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-26
\nMaturity Price : 24.25
\nEvaluated at bid price : 24.84
\nBid-YTW : 6.14 %<\/td>\n<\/tr>\n
PWF.PR.H<\/td>\nPerpetual-Discount<\/td>\n50,400<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-26
\nMaturity Price : 24.30
\nEvaluated at bid price : 24.61
\nBid-YTW : 5.90 %<\/td>\n<\/tr>\n
RY.PR.Z<\/td>\nFixedReset Disc<\/td>\n24,671<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-26
\nMaturity Price : 21.45
\nEvaluated at bid price : 21.45
\nBid-YTW : 5.57 %<\/td>\n<\/tr>\n
TD.PF.B<\/td>\nFixedReset Disc<\/td>\n22,335<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-26
\nMaturity Price : 21.29
\nEvaluated at bid price : 21.29
\nBid-YTW : 5.65 %<\/td>\n<\/tr>\n
BAM.PF.D<\/td>\nPerpetual-Discount<\/td>\n21,640<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-26
\nMaturity Price : 21.54
\nEvaluated at bid price : 21.80
\nBid-YTW : 5.70 %<\/td>\n<\/tr>\n
BAM.PF.A<\/td>\nFixedReset Disc<\/td>\n18,603<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-26
\nMaturity Price : 22.68
\nEvaluated at bid price : 23.13
\nBid-YTW : 6.06 %<\/td>\n<\/tr>\n
There were 5 other index-included issues trading in excess of 10,000 shares.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n
Wide Spread Highlights<\/strong><\/td>\n<\/tr>\n
Issue<\/td>\nIndex<\/td>\nQuote Data and Yield Notes<\/td>\n<\/tr>\n
MFC.PR.L<\/td>\nFixedReset Ins Non<\/td>\nQuote: 19.94 – 24.35
\nSpot Rate : 4.4100
\nAverage : 2.4790<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-26
\nMaturity Price : 19.94
\nEvaluated at bid price : 19.94
\nBid-YTW : 5.91 %<\/td>\n<\/tr>\n

CU.PR.E<\/td>\nPerpetual-Discount<\/td>\nQuote: 21.09 – 25.12
\nSpot Rate : 4.0300
\nAverage : 2.2859<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-26
\nMaturity Price : 21.09
\nEvaluated at bid price : 21.09
\nBid-YTW : 5.84 %<\/td>\n<\/tr>\n

SLF.PR.H<\/td>\nFixedReset Ins Non<\/td>\nQuote: 19.35 – 23.64
\nSpot Rate : 4.2900
\nAverage : 3.5750<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-26
\nMaturity Price : 19.35
\nEvaluated at bid price : 19.35
\nBid-YTW : 5.72 %<\/td>\n<\/tr>\n

PWF.PR.Z<\/td>\nPerpetual-Discount<\/td>\nQuote: 22.55 – 24.00
\nSpot Rate : 1.4500
\nAverage : 0.8682<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-26
\nMaturity Price : 22.20
\nEvaluated at bid price : 22.55
\nBid-YTW : 5.76 %<\/td>\n<\/tr>\n

GWO.PR.S<\/td>\nInsurance Straight<\/td>\nQuote: 22.70 – 23.89
\nSpot Rate : 1.1900
\nAverage : 0.6941<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-26
\nMaturity Price : 22.28
\nEvaluated at bid price : 22.70
\nBid-YTW : 5.86 %<\/td>\n<\/tr>\n

BMO.PR.S<\/td>\nFixedReset Disc<\/td>\nQuote: 21.80 – 23.00
\nSpot Rate : 1.2000
\nAverage : 0.8054<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2052-05-26
\nMaturity Price : 21.45
\nEvaluated at bid price : 21.80
\nBid-YTW : 5.60 %<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

I mentioned a new LRCN issued by iA Financial yesterday, but had no further information. A press release has been issued; Assiduous Reader skeptical has kindly provided the text. The LRCN is a FixedReset, 6.611%+400, …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15],"tags":[],"class_list":["post-43456","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/43456","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=43456"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/43456\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=43456"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=43456"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=43456"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}