{"id":6107,"date":"2009-04-01T19:59:53","date_gmt":"2009-04-01T23:59:53","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=6107"},"modified":"2009-04-01T19:59:53","modified_gmt":"2009-04-01T23:59:53","slug":"ryprx-closes-at-small-premium-with-high-volume","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=6107","title":{"rendered":"RY.PR.X Closes at Small Premium with High Volume"},"content":{"rendered":"<p>RY.PR.X, the FixedReset issue <a href=\"http:\/\/www.prefblog.com\/?p=5987\">announced last week<\/a> had a very solid opening day, trading 725,748 shares in a range of 24.91-09 before closing at 25.02-05, 27&#215;46.<\/p>\n<p>Its vital statistics are:<\/p>\n<div align=\"center\">\n<table border=\"1\">\n<tr>\n<td>RY.PR.X<\/td>\n<td>FixedReset<\/td>\n<td>YTW SCENARIO<br \/>\nMaturity Type   : Limit Maturity<br \/>\nMaturity Date\t: 2039-04-01<br \/>\nMaturity Price  : 23.14<br \/>\nEvaluated at bid price : 25.02<br \/>\nBid-YTW : 6.11 %<\/td>\n<\/tr>\n<\/table>\n<\/div>\n<p>This is an issue sure to be at the centre of many trade errors over the course of its existence. A few years back, Royal Bank started a new numbering system for its preferreds, presumably in cooperation with the TSX: <a href=\"http:\/\/www.himivest.com\/media\/060331RY.pdf\">Series &#8216;AA&#8217; has ticker RY.PR.A<\/a>, <a href=\"http:\/\/www.prefblog.com\/?p=28\">Series &#8216;AB&#8217; has ticker RY.PR.B<\/a> and so on. It was great, and a lot better than giving <a href=\"http:\/\/www.prefinfo.com\/\">Series N the symbol RY.PR.K<\/a>, for instance.<\/p>\n<p>But now we have Series AV having ticker RY.PR.X. I suspect that the TSX reserves the &#8220;V&#8221; suffix for USD issues, or perhaps they consider it too soon after the redemption of the old RY.PR.V (<a href=\"http:\/\/rbc.com\/investorrelations\/pdf\/ar_2003_e.pdf\">USD 250-million, Series K, redeemed in 2003<\/a>) to recycle the ticker.<\/p>\n<p>One way or another, it would appear a little more communication is in order.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>RY.PR.X, the FixedReset issue announced last week had a very solid opening day, trading 725,748 shares in a range of 24.91-09 before closing at 25.02-05, 27&#215;46. Its vital statistics are: RY.PR.X FixedReset YTW SCENARIO Maturity &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-6107","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/6107","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=6107"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/6107\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6107"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6107"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6107"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}