List of Minimum Rate Reset Preferred Shares

List of Minimum Rate Reset Preferred Shares. This feature guarantees, the holder of the issue, a minimum yield at the next reset. So far this is only available with the 5 Year Resets. The List of Minimum Rate Reset Preferred Shares presented here is up today.

Written By Canadian Preferreds

On January 11, 2020
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This feature guarantees the holder of the issue, a minimum yield at the next reset.  So far this is only available with the 5 Year Resets.  The List of Minimum Rate Reset Preferred Shares presented here is up today.  This list is updated each day.  Consequently, new issues appear and redeemed issues are removed. That minimum rate for some fixed income investors is important,  because as buyers they can count on a minimum dividend.  They are guaranteed – when the reset period rolls around in five years, they will own a security that will pay them at least what they are currently being offered.

 

Why You Should Hold Minimum Rate Resets

  1. Guaranteed miminum dividend at the next reset, regardless the five-year Canada bond rate. You have no downside.
  2. If rates go up you still participate in the upside. Your new yield will be the five-year Canada bond rate plus the issue spread.
  3. When rates go down the share price remains close to the face value and in some cases it exceeds.

Possible Cons of Minimum Rate Resets

  1. As with all resets, the issuer can redeem them at the end of the 5year period. If rates are low, the issuer can just issue a new set at a substantially lower lower rate.  In this case, it makes financial sense for the issuer to redeem them.
  2. The Minumum is insurance and as such,  it’s a trade off between a higher base coupon and spread versus a lower coupon and spread with the guarantee.

List of Minimum Rate Reset Preferred Shares Today

If you are looking for a way to evaluate all Minimum Rate Reset go to Compare Minimum Rate Reset Preferred Shares. The metrics provided in the tool make it easier to narrow your selection.

Here is the list of all the Minimum Rate Reset Preferred Shares. 

Last Updated: Market Data Jun-01 18:24, Model Metrics Jun-01 18:44
SymbolCredit RatingFixed Rate BaseDividend AmountIssue Name
ECN-A Pfd3L5YR MIN 6.5% + 5.44%$0.41ECN Capital Corp. 6.50%, Series A
BPO-I Pfd35YR MIN 4.85% + 3.23%$0.3030Brookfield Office Properties Inc. 4.85%, Series II
BPO-E Pfd35YR MIN 5.1% + 3.96%$0.3190Brookfield Office Properties Inc. 5.10%, Series EE
ECN-C Pfd3L5YR MIN 6.25% + 5.19%$0.39ECN Capital Corp. 6.25%, Series C
BPO-G Pfd35YR MIN 4.85% + 3.32%$0.3030Brookfield Office Properties Inc. 4.85%, Series GG
BPO-C Pfd35YR MIN 6% + 5.19%$0.3750Brookfield Office Properties Inc. 6.00%, Series CC
AX-I Pfd3L5YR MIN 6% + 3.93%$0.3750Artis REIT 6.00%, Series I
PPL.PF.E Pfd35YR MIN 5.2% + 3.51%$0.3300PPL Series 25 Shares, KML Series 3 min 5.2
PPL.PF.C Pfd35YR MIN 5.25% + 3.65%$0.3300PPL Series 23 Shares
PPL.PF.A Pfd35YR MIN 4.9% + 3.26%$0.3063Class A Preferred Shares, Series 21
EFN-I Pfd3H5YR MIN 5.75% + 4.64%$0.3600Element Financial Corp. 5.75%, Series I
PPL-M Pfd35YR MIN 5.75% + 4.96%$0.3600Pembina Pipeline Corp 5.75% PREF SER 13
ALA-K ALA.PR.K Pfd3L5YR MIN 5% + 3.80%$0.31AltaGas Ltd. 5% Series K
PPL-K Pfd35YR MIN 5.75% + 5.00%$0.3600Pembina Pipeline Corp 5.75% PREF SER 11
BIK-A NR5YR MIN 5.85% + 3.96%$0.37Brookfield Infrastructure Partners L.P. 5.85%, Series 1
BIP-F NR5YR MIN 5.10% + 2.92%$0.32Brookfield Infrastructure Partners L.P. 5.10%, Series 11
ALA-I ALA.PR.I Pfd3L5YR MIN 5.25% + 4.19%$0.33AltaGas Ltd. 5.25% Series I
BEP-M Pfd3H5YR MIN 5.0% + 3.00%$0.31Brookfield Renewable Partners L.P. 5.00%, Series 13
BIP-E NR5YR MIN 5.00% + 3.00%$0.31Brookfield Infrastructure Partners L.P. 5.00%, Series 9
BIP-D NR5YR MIN 5.00% + 3.78%$0.31Brookfield Infrastructure Partners L.P. 5.00%, Series 7
CPX-G Pfd3L5YR MIN 6% + 5.26%$0.38Capital Power Corp. 6.00%, Series 7
BEP-K Pfd3H5YR MIN 5.0% + 3.28%$0.31Brookfield Renewable Partners L.P. 5.00%, Series 11
CPX-K Pfd3L5YR MIN 5.75% + 4.15%$0.36Capital Power Corp. 5.75%, Series 11
CPX-I Pfd3L5YR MIN 5.75% + 4.12%$0.36Capital Power Corp. 5.75%, Series 9
BEP-O Pfd3H5YR MIN 5.75% + 3.49%$0.36Brookfield Renewable Partners L.P. 5.75%, Series 15
BEP-G Pfd3H5YR MIN 5.5% + 4.47%$0.34Brookfield Renewable Partners L.P. 5.50%, Series 7
BEP-I Pfd3H5YR MIN 5.75% + 5.01%$0.36Brookfield Renewable Partners L.P. 5.75%, Series 9
BIP-C NR5YR MIN 5.35% + 4.64%$0.34Brookfield Infrastructure Partners L.P. 5.35%, Series 5
ENB.PF.K Pfd3H5YR MIN 4.9% + 3.17%$0.3063Enbridge Inc. 4.90%, Series 19
BIP-B NR5YR MIN 5.5% + 4.53%$0.35Brookfield Infrastructure Partners L.P. 5.50%, Series 3
ENB.PF.I Pfd3H5YR MIN 5.15% + 4.14%$0.3200Enbridge Series 17, Cumulative Redeemable Preference Shares
TRP-J Pfd2L5YR MIN 5.5% + 4.69%$0.34TC Energy - Series 13
W-K Pfd3H5YR MIN 5.25% + 4.26%$0.3275Westcoast Energy Inc. 5.25%, Series 10
TRP-K Pfd2L5YR MIN 4.9% + 3.85%$0.31TC Energy-series 15
W-M Pfd3H5YR MIN 5.20% + 4.52%$0.3250Westcoast Energy Inc. 5.20%, Series 12
BAM.PF.H Pfd2L5YR MIN 5% + 4.17%$0.31Brookfield Asset Management Inc. 5.00%, Series 44
BAM.PF.I Pfd2L5YR MIN 4.8% + 3.85%$0.30Brookfield Asset Management Inc. 4.80%, Series 46
BAM.PF.J Pfd2L5YR MIN 4.75% + 3.10%$0.30Brookfield Asset Management Inc. 4.75%, Series 48
EMA-H NR5YR MIN 4.9% + 2.54%$0.3075Cumulative Emera Inc. Min 4.90%, Series H
CU-I Pfd2H5YR MIN 4.5% + 3.69%$0.28Canadian Utilities Ltd. 4.50%, Series FF

Canadian Preferred Shares – Mission

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Without tools like the ones we provide here, its simply not possible to make an educated decision, thus keeping most individual investors away. Our tools provide an overall view, of the preferreds market. With a few clicks you can easily locate today’s best preferreds within a sector/category or across the whole market.

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3 Comments

  1. Lm

    Very useful tools. Many thanks for your work

    Reply
  2. Sydney Portner

    CPX.PR.K ?

    Reply
    • AAlex

      Thanks for letting us know, issue has been added to list

      Reply

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