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Opinions Bryden Teich
Royal Bank of CanadaRY.PR.A.TOBUYMar 01, 2018
Bryden TeichOwned
$25.14
Stock price when the opinion was issued
Financial Services
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COMMENT
Preferred Series AG, perpetual dates in 2016. This series is a perpetual preferred and is the longer term. These come up for redemption after, usually about 5 years. This one is 2016 for the 1st call and is $26. They were originally issued at $25. The bank usually doesn’t call these. Each year following that, the Call price of $26 goes down by $0.25 until it gets to $25 again. Usually at that point they will Call.
Financial Services
The Canadian banking sector is doing well overall but TD and Royal are his two top picks. They have great U.S. exposure, which provides great opportunities for growth.