Home > Boards > Other Markets > Bonds >

ML Depositor PreferredPlus 8.375% CZN-1 (PIY)

PIY RSS Feed
Add PIY Price Alert      Hide Sticky   Hide Intro
Moderator: Enterprising Investor
Search This Board: 
Last Post: 8/6/2019 1:41:19 PM - Followers: 1 - Board type: Free - Posts Today: 0

Merrill Lynch Depositor Inc., PreferredPlus, 8.375% Trust Certificates, PreferredPlus Trust Series CZN-1, stated amount $25 per certificate. The underlying securities are the 7.05% Debentures due 10/01/2046, issued by Citizens Utilities Co., then Citizens Communications Co., now Frontier Communications Corp. (NYSE: FTR), redeemable on or after 10/01/2006 under the call warrants at $25 plus accrued and unpaid interest. Distributions of 8.375% ($2.09375) per annum are paid semi-annually on 4/1 & 10/1. Distributions paid by third party trust preferred securities derived from corporate debt securities such as these securities are NOT eligible for the 15% tax rate on dividends and are also NOT eligible for the dividend received deduction for corporate holders as the distributions are considered to be interest.

PIY
Current Price
Volume:
Bid Ask Day's Range
  • 1D
  • 1M
  • 2M
  • 3M
  • 6M
  • 1Y
  • 2Y
  • 3Y
  • 5Y
No posts yet. Be the first!