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What is the S&P floating rate preferred stock index?

The S&P U.S. Floating Rate Preferred Stock Index comprises preferred stocks that pay dividends at a floating rate. A floating rate preferred stock pays a dividend rate that floats at a spread to a specified benchmark rate (Libor, Fed Funds or T-Bill rate). These securities may also include a rate floor or ceiling.

What are floating-rate preferred shares?

The table is updated daily to reflect all changes in the market for the floating-rate preferreds. Floating-Rate Preferred shares are preferred shares with a yield reseting every 3 months. The new yield is always the declared spread plus the yield of the Canada 3 Month Government Bond.

What are the different types of floating rate preferreds?

These are the most common variations of floating rate preferreds. Fixed to Floating Rate Issues. They start as 5 year fixed and than convert to a floating-rate at the end of the period. Floating Rate Preferred. These are floating since issue date.

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