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To: brehm233 who wrote (51989)9/16/2025 12:53:01 PM
From: Privately  Read Replies (1) | Respond to of 52046
 
Re: any more info??

How about this bond instead? (from Tim's site)

Bank of America Bond….non-call 7 years with monthly payments.

* 06055JNN5, 5.4%, Senior, A1 / A-
* Monthly payer, 7yr non-callable
* YTM 9/15/45 5.392%, YTC 9/15/32 5.383%

Available last couple of mornings. sells out through the day.



To: brehm233 who wrote (51989)9/17/2025 4:38:01 PM
From: Privately2 Recommendations

Recommended By
brehm233
KEN2CWL

  Respond to of 52046
 
Re: Variable issues with a fixed floor

If you looking for floating issues with a fixed divi "floor" from relatively highly rated companies, Metlife's MET-A and Bank of America's BAC-E might be worth a look. Both yield about a 5.8% currently (floating on SOFR) and a 4% minimum divi floor.

I quite liked the 4% floor during the ZIRP period. If interest rates keep falling, they will likely rise in price.

I have flipped both of these issues for about $10/share a couple of times over the last 10 years (?), so there is capital appreciation opportunity if you can buy them cheap (I sell at about $26). However, it might be a decent value even at current prices if it fits in your strategy. I hold a full position in both.

Not a recommendation - I don't recommend anything.