Useless trivia. A few of you may remember this bank as being the one that had MTB-C and MTB-. Which were sister 5% CUMULATIVE bank preferred stocks that were redeemed in 2019. I owned and traded them both back in the day. The interesting thing was these were $1000 “par” preferreds that traded on the NYSE.
FYI, over at ME was able to place an order on 5/8/24 that executed for ticker MTDJV. Another open order was cancelled due to a ticker change. The updated ticker is now MTDJL and was able to put in a new order.
I called ally and I have an open order for 100 shares of MTDJV at 25.03. Has not filled yet. I figured I would test the waters with them and I am pleasantly surprised I got them to place a grey market order for me. I kind of know them pretty well though and their system.
I see MTDJV on Interactive Brokers but it says it’s OTC grey market/trading not supported. I had over 7 million in volume today around the 25.04-25.11 range.
Total Assets (as of March 31) = $215,137 billion (10-Q, filed 5/3/24).
The size of the new offering = $734.2 million.
215,137 billion Total Assets + 734.2 million from offering = $215,871 billion
MTDJL (temporary symbol) is now tradeable at Schwab.
Schwab and eTrade charge commissions to trade this MTB-J (while OTC as MTDJL). Fidelity does not…
not on Vanguard @1330
Useless trivia. A few of you may remember this bank as being the one that had MTB-C and MTB-. Which were sister 5% CUMULATIVE bank preferred stocks that were redeemed in 2019. I owned and traded them both back in the day. The interesting thing was these were $1000 “par” preferreds that traded on the NYSE.
I was able to pick it up as MTDJL on Interactive Brokers this morning. I got filled at 25.04.
FYI, over at ME was able to place an order on 5/8/24 that executed for ticker MTDJV. Another open order was cancelled due to a ticker change. The updated ticker is now MTDJL and was able to put in a new order.
Not yet available on vanguard
Not tradeable on Schwab either (MTDJV or MTDJL).
I called ally and I have an open order for 100 shares of MTDJV at 25.03. Has not filled yet. I figured I would test the waters with them and I am pleasantly surprised I got them to place a grey market order for me. I kind of know them pretty well though and their system.
Tim,
Your chart says this is BBB- from S&P. The pricing term sheet says it is BB+. Can you confirm that your chart has a typo?
Thanks Landlord–will correct.
Landlord–yes u were correct BB+–corrected.
Is it qualified tax rate? Prospectus link up yet?
https://ir.mtb.com/node/38771/html
found it
It’s a 750 million dollar deal. However I was told it was BB+…. not BBB+ by S&P
I don’t see MTB-J on AMTD yet…
I see MTDJV trading at $25.08 but you cannot enter orders yet.
I see MTDJV on Interactive Brokers but it says it’s OTC grey market/trading not supported. I had over 7 million in volume today around the 25.04-25.11 range.
That was really popular! Looking at MT size, capital ratio, and rating…. They could have sold more, deal size expanded as it was……
Tim do we have a current asset size on MTB? I guess 275-300 billion…. Master listing here shows 215 I don’t think that’s correct??
If you prefer,
Total Assets (as of March 31) = $215,137 billion (10-Q, filed 5/3/24).
The size of the new offering = $734.2 million.
215,137 billion Total Assets + 734.2 million from offering = $215,871 billion
Typo? Use decimal or millions, not hundreds of thousands of billions.
Thanks, Gary. My typo.
It’s $215.137 billion.