Q: I own a number of reset prefs. Most trade near the 25.00 range or below.
Two issues puzzle me
Na bank 5.6% reset 2021 at 4.9 plus Boc 5y trades at 27.00
and
Can.west Bank 6.25% reset 2021 at 5.47 plus boc 5y trades at 27.26
My guess at reset dates they will probably be redeemed at 25.
why would they trade so far above the redemption price
thanks
Two issues puzzle me
Na bank 5.6% reset 2021 at 4.9 plus Boc 5y trades at 27.00
and
Can.west Bank 6.25% reset 2021 at 5.47 plus boc 5y trades at 27.26
My guess at reset dates they will probably be redeemed at 25.
why would they trade so far above the redemption price
thanks