Goldman Sachs preferreds decline; AT&T’s $25-par notes slip; Southern Co. heads lower

By James McCandless

San Antonio, Dec. 13 – Preferreds ended generally lower on Thursday, adding to weakness seen earlier in the trading session.

The Wells Fargo Hybrid & Preferred Securities Financial index was down 0.12% at the Thursday close after opening lower by 0.08%. The iShares US Preferred Stock ETF was down 10 cents to $34.65.

Leading trading volume, Goldman Sachs Group, Inc.’s series D floating-rate non-cumulative preferreds declined.

The preferreds (NYSE: GSPrD) were down 13 cents to close at $18.23 on volume of about 462,000 shares.

Elsewhere in finance, Citigroup Capital XIII’s 7.875% fixed-to-floating rate trust preferreds were positive.

The preferreds (NYSE: CPrN) gained 11 cents to close at $26.25 with about 343,000 shares trading.

JPMorgan Chase & Co.’s 5.75% series DD non-cumulative preferred stock ended slightly higher.

The preferreds (NYSE: JPMPrD) rose 1 cent to close at $24.75 on volume of about 248,000 shares.

In telecom, AT&T, Inc.’s 5.35% global notes due 2066 extended a decline.

The notes (NYSE: TBB) fell 3 cents to close at $22.56 with about 212,000 notes trading.

Utilities name Southern Co.’s 6.25% series 2015A junior subordinated notes due 2075 were lower.

The notes (NYSE: SOJA) were down 5 cents to $25.05 on volume of about 206,000 notes.

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