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 Oct-21 17:59, Model Metrics Oct-21 18:01
SymbolCredit RatingFixed Rate BaseDividend AmountIssue Name
BPO-G BPO.PR.G CA1129006260 Pfd35YR MIN 4.85% + 3.32%$0.3030Brookfield Office Properties Inc. 4.85%, Series GG
BPO-I BPO.PR.I CA1129005924 Pfd35YR MIN 4.85% + 3.23%$0.3030Brookfield Office Properties Inc. 4.85%, Series II
BPO-E BPO.PR.E CA1129006427 Pfd35YR MIN 5.1% + 3.96%$0.3190Brookfield Office Properties Inc. 5.10%, Series EE
BPO-C BPO.PR.C CA1129006674 Pfd35YR MIN 6% + 5.19%$0.3750Brookfield Office Properties Inc. 6.00%, Series CC
ECN-A ECN.PR.A CA26829L4047 Pfd3L5YR MIN 6.5% + 5.44%$0.4075ECN Capital Corp. 6.50%, Series A
ECN-C ECN.PR.C CA26829L6026 Pfd3L5YR MIN 6.25% + 5.19%$0.3900ECN Capital Corp. 6.25%, Series C
AX-I AX.PR.I CA04315L8657 Pfd3L5YR MIN 6% + 3.93%$0.3750Artis REIT 6.00%, Series I
PPL.PF.E PPL.PF.E CA7063277239 Pfd35YR MIN 5.2% + 3.51%$0.3300PPL Series 25 Shares, KML Series 25 min 5.2
CPX-G CPX.PR.G CA14042M8887 Pfd3L5YR MIN 6% + 5.26%$0.3750Capital Power Corp. 6.00%, Series 7
PPL.PF.A PPL.PF.A CA7063277643 Pfd35YR MIN 4.9% + 3.26%$0.3063Class A Preferred Shares, Series 21
EFN-I EFN.PR.I CA2861816643 Pfd3H5YR MIN 5.75% + 4.64%$0.3600Element Financial Corp. 5.75%, Series I
PPL.PF.C PPL.PF.C CA7063277494 Pfd35YR MIN 5.25% + 3.65%$0.3300PPL Series 23 Shares
CPX-I CPX.PR.I CA14042M8622 Pfd3L5YR MIN 5.75% + 4.12%$0.3600Capital Power Corp. 5.75%, Series 9
PPL-M PPL.PR.M CA7063278559 Pfd35YR MIN 5.75% + 4.96%$0.3600Pembina Pipeline Corp 5.75% PREF SER 13
PPL-K PPL.PR.K CA7063278716 Pfd35YR MIN 5.75% + 5.00%$0.3600Pembina Pipeline Corp 5.75% PREF SER 11
CPX-K CPX.PR.K CA14042M8473 Pfd3L5YR MIN 5.75% + 4.15%$0.3594Capital Power Corp. 5.75%, Series 11
BIK-A BIK.PR.A CA09075W2094 NR5YR MIN 5.85% + 3.96%$0.366Brookfield Infrastructure Partners L.P. 5.85%, Series 1
BEP-O BEP.PR.O BMG162582156 Pfd3H5YR MIN 5.75% + 3.49%$0.3594Brookfield Renewable Partners L.P. 5.75%, Series 15
BEP-I BEP.PR.I BMG162581653 Pfd3H5YR MIN 5.75% + 5.01%$0.3590Brookfield Renewable Partners L.P. 5.75%, Series 9
BIP-F BIP.PR.F BMG162522269 NR5YR MIN 5.10% + 2.92%$0.320Brookfield Infrastructure Partners L.P. 5.10%, Series 11
BIP-B BIP.PR.B BMG162521436 NR5YR MIN 5.5% + 4.53%$0.345Brookfield Infrastructure Partners L.P. 5.50%, Series 3
BEP-G BEP.PR.G BMG162581323 Pfd3H5YR MIN 5.5% + 4.47%$0.3440Brookfield Renewable Partners L.P. 5.50%, Series 7
BIP-E BIP.PR.E BMG162522004 NR5YR MIN 5.00% + 3.00%$0.313Brookfield Infrastructure Partners L.P. 5.00%, Series 9
BIP-C BIP.PR.C BMG162521683 NR5YR MIN 5.35% + 4.64%$0.335Brookfield Infrastructure Partners L.P. 5.35%, Series 5
BEP-M BEP.PR.M BMG162584053 Pfd3H5YR MIN 5.0% + 3.00%$0.3130Brookfield Renewable Partners L.P. 5.00%, Series 13
BIP-D BIP.PR.D BMG162521840 NR5YR MIN 5.00% + 3.78%$0.313Brookfield Infrastructure Partners L.P. 5.00%, Series 7
BEP-K BEP.PR.K BMG162581992 Pfd3H5YR MIN 5.0% + 3.28%$0.3130Brookfield Renewable Partners L.P. 5.00%, Series 11
ALA-I ALA.PR.I CA0213618527 Pfd3L5YR MIN 5.25% + 4.19%$0.33AltaGas Ltd. 5.25% Series I
ALA-K ALA.PR.K CA0213618378 Pfd3L5YR MIN 5% + 3.80%$0.31AltaGas Ltd. 5% Series K
TRP-J TRP.PR.J CA87807B8345 Pfd2L5YR MIN 5.5% + 4.69%$0.3425TC Energy - Series 13
ENB.PF.K ENB.PF.K CA29250N5192 Pfd3H5YR MIN 4.9% + 3.17%$0.3063Enbridge Inc. 4.90%, Series 19
W-K W.PR.K CA95751D8474 Pfd3H5YR MIN 5.25% + 4.26%$0.3275Westcoast Energy Inc. 5.25%, Series 10
W-M W.PR.M CA95751D1289 Pfd3H5YR MIN 5.20% + 4.52%$0.3250Westcoast Energy Inc. 5.20%, Series 12
ENB.PF.I ENB.PF.I CA29250N5358 Pfd3H5YR MIN 5.15% + 4.14%$0.3200Enbridge Series 17, Cumulative Redeemable Preference Shares
BAM.PF.H CA1125854846 Pfd2L5YR MIN 5% + 4.17%$0.31Brookfield Asset Management Inc. 5.00%, Series 44
TRP-K TRP.PR.K CA87807B8188 Pfd2L5YR MIN 4.9% + 3.85%$0.3050TC Energy-series 15
EMA-H EMA.PR.H CA2908768617 NR5YR MIN 4.9% + 2.54%$0.3075Cumulative Emera Inc. Min 4.90%, Series H
BAM.PF.I CA1125854507 Pfd2L5YR MIN 4.8% + 3.85%$0.30Brookfield Asset Management Inc. 4.80%, Series 46
BAM.PF.J CA1125854275 Pfd2L5YR MIN 4.75% + 3.10%$0.30Brookfield Asset Management Inc. 4.75%, Series 48
CU-I CU.PR.I CA1367176262 Pfd2H5YR MIN 4.5% + 3.69%$0.2825Canadian Utilities Ltd. 4.50%, Series FF

Canadian Preferred Shares – Mission

Our mission is to provide the average investor with the knowledge, up to date information, latest trends, data and tools to select the best preferreds to purchase or sell today.

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.

Using our homepage as a starting point you can access all of our tools.

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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