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Gabelli Equity Trust New Preferred Details

Finally the final prospectus for the new Gabelli Equity Trust (GAB) preferred has been posted.

As everyone knows the coupon is 5% with an early redemption available to the company in 2024.

Issue is cumulative and likely qualified (this is not guaranteed and various dividends may not be qualified–some may be return of capital).

The company said they anticipated a Moodys rating of A1, but Moodys has no rating issued at this time–we shall see if it hits in a day or two.

The final prospectus can be read here.

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