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Re: JOoa0ky post# 602709

Monday, 04/06/2020 1:55:55 PM

Monday, April 06, 2020 1:55:55 PM

Post# of 803635
Hi JO

Kthomp19 had a great post regarding the terms of the JPS a few weeks back - maybe other poster or Kthomp has easy access. If they were issued by BAC or JPM they would be trading near par. Regarding the floaters - perhaps they have a floor or minimum fixed rate - also the spread over LIBOR might be higher than LIBOR itself? Have not looked but I am assuming that GSE preferred issued in a financial crisis would have floor dividend rates and relatively high spreads over the floating LIBOR reference rate?