New Preferred OTC Grey Market Tickers

Interestingly the new OTC temp symbols of the Bank of America preferred and the Saul Centers preferred have been posted.

Bank of America will be BFALL

Saul Centers will be SAUXP

Unfortunately there have been no pricing terms posted yet for either issue. I have noticed lately that the SEC filings get later and later–for whatever reason.

Thanks to Number 6 for being on the lookout for these temp symbols.

10 thoughts on “New Preferred OTC Grey Market Tickers”

  1. These are the types of preferreds one can lose quickly on if assumption is recent rate rise will stick. 10 year has jumped almost 30 bps yet issuances are being sent at the bottom rate yields still despite the 30 bps bump. The lag effect in preferred pricing works both ways. I am making no interest rate predictions either way as I am barely capable of using half the functions on my Ipad, let alone make an “Irrational Exuberance” call.

    1. In the case of BFALL, bottom rate yields but also bottom IG rating making this asymmetrically risk loaded.

  2. Hi
    Been reading all this interesting information regarding New Preferred OTC Grey Market Tickers, but I have an account at Merrill Edge and usually they are late to allow the purchase of these new preferred shares and sometimes the are no allow to be traded until they are on the other exchanges.
    Usually when you can finally purchase them the price is above par.
    What brokerage firms would be the best to get these OTC symbols early?
    Thanks in advance

    1. Jaberstein–eTrade and Fido are both ok–not always the 1st day of trading, but usually by the 2nd day of OTC trading.

    1. Kapil–given that it is a baby bond we will not know the ticker until it comes to trading time. There is no OTC trading. You may be able to buy it early with the cusip number if you so desire, but I would recommend waiting for trading to begin in the next few days (time unknown).

    1. mcg–thanks. I have been waiting for the SEC filing but may hav to put out a blurb premarket without it.

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