個人積分：3502分
文章編號：78827363
WASHINGTON – Today, the U.S. Department of the Treasury announced that it priced a secondary offering at par for all of its Ally Financial Inc. (Ally) trust preferred securities (TruPs). The aggregate proceeds from the offering will be approximately $2.7 billion. The closing of the sale is expected to occur on March 7, 2011.
“Today’s transaction represents an important step toward exiting our investment in Ally, as we continue to work to recover taxpayer dollars,” said Acting Assistant Secretary for Financial Stability Tim Massad. “As the economy heals, we’re continuing to replace government support with private capital in the financial markets.”
Pursuant to the Troubled Asset Relief Program (TARP), Treasury invested a total of $17.2 billion in Ally, which provides financing to auto dealers and consumers. This investment was part of Treasury’s successful effort to prevent the collapse of the U.S. auto industry, which could have resulted in millions of jobs lost at the height of the financial crisis. The TruPs sale represents the first disposition of Treasury’s Ally holdings. With the $2.7 billion in TruPs proceeds, Treasury will have received approximately $4.9 billion in return from Ally to date, including $2.2 billion in dividends and interest. After the closing, Treasury will continue to hold $5.9 billion of mandatory convertible preferred stock in Ally and 74 percent of the outstanding shares of Ally’s common stock.
To date, TARP repayments ($241 billion) and income ($36 billion) total approximately $277 billion. With the expected proceeds from the sale of these $2.7 billion in Ally TruPs, TARP repayments and income would reach approximately $280 billion.
In President Obama’s FY2012 budget, the Administration estimated that the lifetime cost of TARP would be approximately $48 billion — a fraction of the $700 billion originally authorized for that program.
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個人積分：3502分
文章編號：78827570
The Dodd-Frank Wall Street Reform and Consumer Protection Act (the "Act")
was signed into law by President Obama on July 21. The Act includes a number of important provisions of interest that we will address in a series of Alerts to our banking clients. The Act makes significant changes to the ability of bank and thrift holding companies to issue trust preferred securities ("TRUPS") and continue to count them as Tier 1 capital.
History of the Legislation
The House-passed version of the legislation (H.R. 4173) did not contain any provisions addressing the capital treatment of TRUPS. The subsequent Senate bill included provisions inserted by Senator Collins (R-Maine) that were supported by the FDIC, which would have eliminated Tier 1 capital treatment for TRUPS. These provisions were eased during the deliberations between the Senate and House of Representative conferees that produced the Conference Report, which was approved by the House on June 30 and the Senate on July 15.
Final Provisions of Dodd-Frank
The final rules concerning TRUPS are as follows:
Bank and thrift holding companies with assets of less than $15 billion as of December 31, 2009, will be permitted to include TRUPS that were issued before May 19, 2010, as Tier 1 capital.
TRUPS issued before May 19, 2010, by larger bank and thrift holding companies will continue to be treated as Tier 1 capital until January 2013. At that time, the Tier 1 capital treatment will be phased out over a three-year period ending in January 2016. The specifics of this phaseout of Tier 1 capital treatment are to be determined by the bank regulators.
Bank holding companies with assets of less than $500 million will be permitted to continue to issue TRUPS and have them count as Tier 1 capital.
TRUPS issued by a bank or thrift holding company (other than those with assets of less than $500 million) after May 19, 2010, will no longer count as Tier 1 capital. TRUPS still will be entitled to be treated as Tier 2 capital.
https://sfmagazine.com/post-entry/october-2016-will-trups-survive/
ALLY/GMAC太大所以不准用在Tier 1
愈看愈複雜
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個人積分：3502分
文章編號：78842482
差一點要把他換光光
把COFPRJ跟AEFC用差價換成F-C這一招棒棒棒
今天一看..哇..炒股炒到現在單一股票賺最飽的一隻還不到6個月的光景
這個還沒算上已經收到的股息6/1的$2250
9/1號要收多我也忘了..應該是5千多吧
有圖有真相
最早進去買F-C是3/30
這隻賺最飽
F-C 5個月含領息賺超過7萬
不過今年AVGOP帳面賠了4萬6
然後是AEFC...再過來是COFPRJ 接著ALINPRB 最後是ATCO-E
ALINPRA是賠錢 不過ALIN家族3隻一起算是賺ALINPRB的錢A股跟E股正負相抵
都跑去那? F-C再加上約3/4 ALIN 持股換了
一部分SOLN (還在賠錢中)
一部分ATCO-D
大部分換ALLY-A (%好像保證比6%高一點點...有很大機會收到2040年)
ALLY-A最近的一次季股息/利息是$0.403 我算不出來它們是怎樣算的?
5.785% + 3個月的 libro rate應該沒這麼高...等11/15再發息就知道
3 month libro rate 網路查是0.27..
5.785+0.27=6.055
8/15/2020不可能發到0.403
只要利息不調升這一隻被CALL的機會等於0
唯一查不到的是不知道能不能當tier 2 capital計算
如果可以當tier 2 capital計算更不可能被CALL
3月時是憑個人判斷
現在那來的膽這樣子玩換股?
PFF啦..天天追蹤其持股變化..至少可以壯膽不要看rating
看了PFF還買了400股月月給息的優先股
現在含現今有516種持股
只希望不要踩雷..PFF也踩了不少隻
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個人積分：3502分
文章編號：78842746
個人積分：3444分
文章編號：78842937
個人積分：3502分
文章編號：78843561
Biggest King wrote:
感謝分享，您的操作非(恕刪)
我一開始也跟你一樣
但是公司大到某個程度rating真的不是那麼重要
被這個BBB以上卡住會少賺很多錢
AVGOP沒rating卻是PFF第一大持股還8%
我是等不及他漲回來直接斷頭他去換跌更慘的AEFC/COFPRJ/ALIN-A跟B
如何取得平衡...我以PFF持股來做參考..要不要冒險以PFF做指標
Ford / Capital One / Ally真的要倒的話....美國大概也要垮了
再保守一點
供你參考..我2019時常常做的換手
持股市價高過26時..要常常看IPO資料
看到好的賣26買25...
你錯過美國銀行好幾隻..我從6%一直換到5%
BAC-B 6%
BAC-K 5.875%
BAC-M 5.38%
BAC-N 5% 今天 $27.08
N股上了26多也老早賣光光...去換新股
$27只是帳面好看虛的啦
MGR今天還27.83也老早賣光光...去換新股
甚至3月下跌時..你的沒跌..賣高換低
買25賣26就是+4%
賣27買25是+8%
放到CALL還不是買25還你25..市價$100不賣也沒屁用
萬一還溢價買的還得倒貼買超過25只拿回25
不要給市價騙了..假的
坦白說一定要BBB
那還不如直接買普通股
現在直接買保德信普通股PRU以今天股價購入股息是6.37%
不過
我的名言．．投資理財．．輸贏自理．．
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個人積分：421分
文章編號：78844433
個人積分：1854分
文章編號：78844793
個人積分：1854分
文章編號：78844807
個人積分：3502分
文章編號：78845072
你更敢
找了好久才找到
The Preferred Shares
The best opportunity for investing in CEQP lies in their preferred shares. Crestwood Equity Partners LP, 9.25% Preferred Partnership Units (CEQP.PR) aka CEQP-, is a very unique opportunity. Currently trading at $5.58/share, they pay a cash dividend of $0.8444/year paid quarterly for a yield of 15.1%.
These preferred shares have many unique features. For example, they do not have a call date or a par value. Initially, these preferred shares were not publicly traded. They were issued to institutional investors and paid dividends in the form of more shares. It was not until May 2018 that CEQP filed a shelf-registration to list them on the open market which allows the institutional holders to sell their shares in the market.
As a result, CEQP- does not have a par value of $25 like most preferred shares we discuss. The shares simply paid 9.25% on the original investment – which with a dividend of $0.8444, is a price of $9.128/share. With no option to call, CEQP-‘s price has no restrictions from trading at whatever yield the market determines is appropriate. For example, if the market gains confidence in CEQP, we might see CEQP- trading at a 7% yield in the future, over $12/share. Since it’s not callable, there would be nothing to hold the price down other than the market’s sentiment.
Additionally, since CEQP- was made public for the purpose of institutions to liquidate positions they have held for a long time, we frequently see large blocks of shares up for sale. Until that large glut of shares is bought up, we can expect downward pressure whenever the share price spikes up. We believe that selling pressure has kept price artificially lower than they would normally trade. For us, this has been an extended buying opportunity to fill our positions.
這種買1000股也賺不了什麼大錢
買1萬股以上還有幾會賺點錢
你敢買1萬股嗎?
我沒膽
好好的正常優先股不買買這種..你還真敢
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