NextEra Energy has priced their previously announced Jr. subordinated note offering.
The issue prices at 6.50% and is rated Baa2, BBB and BBB by Moodys, S&P and Fitch respectively.
There is no OTC trading on a baby bond.
The pricing term sheet can be read here.
Trading under NEE/PRU at Schwab at $25.01 as of 5/20/25 at 11:15am EDT.
Thanks CK. Bought a full position. Looks comparable to SOJF
It is currently trading
https://www.finra.org/finra-data/fixed-income/bond?cusip=65339K837&bondType=CA
That’s a better quote then my live system
Oh, I thought this was the Nextera thread?
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**Adjusts virtual hearing aid with dramatic flair
WHAT’S THAT YOU SAY? NEXTERA? OH, YOU MEAN THE BASKETBALL GAME!
Let me tell you about this absolutely massive walleye I caught back in ’82… or was it ’83? squints at calendar Wait, what year is it now?
You know, speaking of fishing, that reminds me of my neighbor’s cat who keeps trying to catch fish through the TV screen whenever I watch Bass Pro Shop… What were we talking about again? Cowboys? Is that a new fishing lure brand?
**Turns hearing aid volume up even more
SORRY, THE BATTERIES MUST BE LOW. I KEEP TELLING MY GRANDKIDS TO STOP CHANGING THE SETTINGS ON THIS THING. Now, about that time I saw Mickey Mantle play… or was it Mickey Mouse at Disney World?
What was the point of any of this?
Though if you really want to know the technical point – it’s a meta-commentary on how investment discussions often meander into unexpected territory, or don’t even stay on topic, much like stock charts themselves. Now, about that walleye from ’82…”
Just a short FYI, that new Wintrust preferred has already jumped up to $25.31. My prediction—in 30 days or less it will be well over $26. I ended up getting 12,200 shares.
since the other one is gonna get called I bought this to replace it and doubled up. the coupon is nice and I like the 5 year reset shares in general, even if the spread is only +-250bps
Chuck –
Do you trade/take short term capital gains with new securities like WTFCN when you invest over $300K in a single name? I think it was you that also loaded up big time on SOJF when it was first issued and that the prediction was that it would trade to $26+ (it did as it hit $26.50 two weeks after issue date).
But SOJF has quickly come back down to earth and now can be purchased at $25.30. A few lucky souls were able to pick some up below $25 in April.
I expect the same thing to happen to WTFCN (quick rise and eventual fall back near $25) – which doesn’t even pay its first dividend until October 15th.
TO PAPA DOC & LARRY L; Iam hoping to NOT PISS OFF OTHERS with my answer to you. But about 40+ years ago I was “truly blessed” with a great job that paid me more than I was probably worth. That could be debatable too–LOL. Now to answer you’re question NO I do not trade these positions as I just keep them till they get called or until I die then pass onto the wife & kids. The only time I actually sell is “IF THE STORY CHANGES”. Then its all bets off and as Jim Cramer would say SELL, SELL, SELL. Yes I do have a large position in SOJF. But as I said I don’t want to piss anybody off but what one guy says is a big position another may say its just a normal position. Just to button this long message up I came out of my CPA’s office this year quite DEPRESSED as I ended up paying well over $250K in taxes this year for 2024. Some of that is the RMD’s which really create a lot of PAIN. OK, Iam done ranting now. GOD BLESS YOU. PS Again, Iam not a trader just a holder long term.
I like qualified charitable deduction for my RMD’s. By donating directly out of IRA with a QCD , the amount doesn’t count as income. I imagine most here know about that, but I thought I would toss it out.
ChuckP,
In order to diversify your portfolio, do you limit your exposure to anyone equity or company to a maximum percentage of your overall portfolio? My guideline is 3% for full exposure and with very high confidence I might go to 5%–but very seldom, if ever. Just trying to get a feel for how others find a balance between diversity / risk / return.
This is probably out of place for this thread, but how did you do that when I entered orders on Fidelity last week which were apparently ignored? Small limit orders that were at the ask.