S&P to drop some constituents from preferred index after calls issued

By Susanna Moon

Chicago, Aug. 23 – S&P Dow Jones Indices said it will make some changes to the S&P U.S. Preferred Stock index.

The following issues have been called for redemption and will be deleted from the index, according to a notice:

• The 7.375% notes due 2051 of CenturyLink, Inc. after the close of trading on Aug. 26;

• The 6.875% series J cumulative redeemable preferred shares of Vornado Realty Trust after the close of trading on Aug. 31;

• The 7.05% ING perpetual debt securities of ING Groep NV after the close of trading on Sept. 14;

• The American Depositary Shares, each representing one noncumulative callable dollar preference share, series 2, of Barclays plc after the close of trading on Sept. 14;

• The 7% series E cumulative redeemable preferred stock of Digital Realty Trust, Inc. after the close of trading on Sept. 14; and

• The 5.75% first mortgage bonds due Nov. 1, 2040 of Entergy Corp. after the close of trading on Sept. 14.

The index includes all preferred stocks issued by corporations and trading on major U.S. exchanges, subject to criteria relating to minimum size, liquidity and time to maturity.

New York-based S&P Dow Jones Indices is part of McGraw Hill Financial.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.