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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| West.brom 6.15% | WBS | London | Bond |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 86.00 | 07:43:36 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 86.00 | 86.00 | 86.00 | 86.00 |
| Top Posts |
|---|
Posted at 20/12/2022 11:48 by my retirement fund Would love to know who owns them, I had wondered if WBS had been buying them themselves, but they surely would not only need permission but would need to declare this. They are really looking a right shady outfit. |
Posted at 17/12/2022 12:16 by cc2014 The share price has been completely mispriced for months imho.This instrument is currently paying 1.48% per annum. If West Brom makes sufficient profits the maximum payable until 2026 is approximately 3.21% per annum if my maths is right. A broad comparsion might be the Aviva prefs which are paying around 7.5%. But Aviva is well a funded company with no history of not paying it's coupons. West Brom is not well capitalised and has only just recovered enough that it's starting paying coupons in the last year for the first time in 10 years. If you take the view that that will be a short shallow recession and house and commercial prices aren't going to fall much and won't cause impairments or losses for WBS, then what coupon would be appropriate for WBS? Well, imho something north of 10%. But lets call it 10%. That would imply a share price of 30p if the coupon immediately rises to 3.21% (which I doubt) If you take the view that it's going to be long recession causing house and commercial prices to be significantly under pressure with mortgage holders defaulting, within 2 years you could see large losses at WBS again and the coupon going back to zero, in which case the share price might be around say 15p as some people are always willing to take a punt. |
Posted at 08/9/2022 09:53 by cc2014 Well, nearly two hours into the trading day, the offer has just moved but not the bid.Seems a litle surprising to me since I think the directors at WBS have once again comfirmed to me they cannot be trusted. Or maybe I misunderstand the instrument? |
Posted at 17/1/2022 15:17 by cc2014 I've being considering this today and I'm definitely not letting mine go for 85p.I would definintely let mine go for 100p and I guess if I'm pushed there's an opportunity cost thing which means I would probably accept 95p even though I'd feel aggreived. I can't see an offer of 95p though. Too much cost for WBS compared with just going for it at 100p. Winterfloods are slowly walking up the bid at 73p. They clearly don't want any more buyers as they've opened their spread and are at 93p |
Posted at 14/1/2022 11:53 by cousinit I think if someone bid me 85p next week I'd probably take it. If they waited until closer to April then I'd take my chances on a par redemption.I'm surprised that WBS wasn't the buyer as they should be proactively looking to retire worthwhile clips. My understanding is that on a coupon payment date they can redeem the entirety at par at their complete discretion. It's only if they try to chip the price or attempt it at a different time that you could hold out. |
Posted at 14/1/2022 11:10 by cc2014 Basically £50k.I'm of the view that since the trade took place on the 10th but the price didn't move until the trade was reported that one of the MM has taken the trade on at risk, or at least some of it. I suspect in the end the MM will square his position and make a profit because there's always someone willing to let a few shares go as the price rises. Would I sell though for 80p? No, we are in the end game now and WBS have to get these pointless PIBS off their balance sheet. My gut feeling remains the same as ever, that WBS issued them at 100p and if they make an offer now at 100p about 95% of shareholders would accept and that would include me. However, if Mr £50k comes in for another lump at say 90p next week and drives the share price up there, 100p doesn't look so attractive. I would suspect there are very few of these shares available to trade. Every time I've tried to buy the liquidity has been zilch. Unless some shares have come on the market buying within the spread for any sort of volume has been very difficult. |
Posted at 05/1/2022 14:07 by my retirement fund If we get a dividend prior announced with radio silence on redemption news, it will probably be 95p as a guess. |
Posted at 29/12/2021 14:30 by dlp6666 Thanks for clarifying.I've rooted around and found some more information - [ - which makes it look like IF they do decide to pay anything out at all, it could even be lower than that c.3% [effectively maximum] yield. So probably only worth holding WBS for the eventual capital gain on redemption. |
Posted at 25/11/2021 13:34 by cc2014 If I were them (and I'm not and I want to try and stay neutral and not open to suggestions of ramping) I'd get on and do it now.Now, because with the share price where it is, there will be no bad publicity and how could any shareholder complain with an overnight uplift in price of 50%. Also, because to make an informed decision relevant financial information has to be provided and that was done yesterday so wouldn't require refreshing. Albeit if it's a capital cancellation at par then financial information would not be required but in my mind I still see this as fair and reasonable practice. West Bromwich BS do not have a history of being generous though. Indeed the opposite. That might lead them to do a tender at something less than par shortly and then clear out the rest with a capital cancellation a year later. That would be 2 lots of costs though and I guess that also risks the price trading above par giving them a publicity headache. We will see in due course. To be honest I'm not bothered and it's easy for me speculate as I'm sitting on a decent capital gain, the dividend starts shortly and I'd be happy to collect the dividend in perpetuity if WBS do nothing. |
Posted at 28/7/2021 11:42 by cousinit Wonder if the move in the bid is to try and shake out any loose stock for WBS to then buy back? |
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