Hybrid Preferred Securities definition
Examples of Hybrid Preferred Securities in a sentence
Emerging market debt returned 3.9% (JP Morgan Emerging Markets Bond Index), preferreds rallied 5.8% (BofA Merrill Lynch Hybrid Preferred Securities Index) and high-yield municipals returned 4.1% (Bloomberg Barclays Municipal High Yield Index).
EXHIBIT F TERMS OF SUBORDINATION [Guaranty of Hybrid Preferred Securities] SECTION ___.
Floating Rate Equity-Linked Subordinated Hybrid Preferred Securities (“F.R.E.S.H.”)With reference to the convertible bonds known as Floating Rate Equity-linked Subordinated Hybrid Preferred Securities (“FRESH”), convertible into BMPS shares, issued in December 2003, no conversion requests were received in 2013.Consequently, the total number of shares issued in the service of FRESH 2003, as at 31 December 2013, is 221,755,923, amounting to € 134,952,651.33.
The Hybrid Preferred Securities Index includes taxable, fixed rate, US dollar denominated, investment grade preferred securities listed in a US exchange and structured for retail investors.
Annual Compound Returns 1 Year3 YearSince Inception(1)Flaherty & Crumrine Investment Grade Fixed Income Fund(2)(15.1%)(2.5%)(3.0%)Merrill Lynch Hybrid Preferred Securities Index(12.7%)(1.9%)(1.6%)(1) Period from December 15, 2004 (commencement of operations) to December 31, 2007.(2) Based on Published NAV per unit and assuming that distributions made by the Fund on its units in the periods shown were reinvested (at Published NAV per unit) in additional units of the Fund.