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Priority Income Fund Prices Term Preferred Issue

Priority Income Fund has priced their previously announced term preferred stock issuance.

The shares price at 6.375%. They are rated BBB- by Egan-Jones.

The issue will have an early redemption available to the company starting in 2025 with mandatory redemption in 2029.

The issue will trade OTC, but the temporary ticker has not been announced as yet–it will be announced today.

The pricing term sheet can be found here.

10 thoughts on “Priority Income Fund Prices Term Preferred Issue”

  1. I guess everyone has their 1099s, so what were the tax characteristics of last year’s preferred distributions? Is this published anywhere?

  2. Price crept up a dime but volume is low. Are they having trouble selling this or is it just the brokers who won’t touch it? Priced favorably compared to other PRIF-‘s. I bought a large amount yesterday for flipping and some to keep.

  3. PRIF-L just rejected @TD: “No opening transactions are allowed on securities affected by amendments to SEC Rule 15c2-11.”

  4. Bought at schwab. Charged $6.95 commission.
    Priced favorably comoared to their other issues.Some to flip and some to keep.

  5. I have six Priority Income Fund issues, all at Fidelity. Did Priority Income Fund suddenly become a risky investment, or did Fidelity become a poor broker? I tried this in an account labelled ‘most aggressive’, so I know it is not my profile interfering.

    P.S. I was able to buy a few share at T Rowe Price! Shhhh!

  6. Fidelity is not letting me buy this security:


    (TC9052) Opening transactions for this security are not currently permitted due to limited company information and/or the risk associated with the security.

    Anyone else having this issue?

    1. FWIW, as of 0800 PST, Fido won’t allow (altho it popped up yesterday as PRIFV, but wouldn’t take an order). Went to Vang earlier this AM and able to buy small amt, but when I put in another order a few minutes later, they wouldn’t allow online trade…”call us.”

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