S&P U.S. Preferred Stock index to drop nine issues to be redeemed

By Angela McDaniels

Tacoma, Wash., May 23 – S&P Dow Jones Indices will remove nine series of preferred stock from its S&P U.S. Preferred Stock index. Each of the affected series has been fully called for redemption, according to a company news release.

Endurance Specialty Holdings Ltd.’s 7.5% series B noncumulative preferreds (Symbol: ENH PR B) will be deleted from the index after the close of trading on May 31.

RBS Capital Funding Trust V’s 5.9% noncumulative guaranteed trust preferreds (Symbol: RBS PR E), RBS Capital Funding Trust VII’s 6.08% noncumulative guaranteed trust preferreds (Symbol: RBS PR G) and RBS Capital Funding Trust VI’s 6.25% noncumulative guaranteed trust preferreds (Symbol: RBS PR I) will be deleted after the close of trading on June 10.

UBS Preferred Funding Trust IV’s trust preferreds (Symbol: UBS PR D) and the series 4 American Depositary Shares (Symbol: BCS PR C) representing Barclays plc’s series 4 noncumulative callable dollar preference shares will be deleted after the close of trading on June 14.

HSBC USA Inc.’s series F floating-rate noncumulative preferreds (Symbol: HUSI PR F), the depositary shares (Symbol: HUSI PR G) representing its series G floating-rate noncumulative preferreds and the depositary shares (Symbol: HSFC PR B) representing HSBC Finance Corp.’s series B 6.36% noncumulative preferreds will be deleted after the close of trading on June 29.

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