Call price high Call price low and/or callable and/or callable long term soon Voting vs.
(2000) examine how stock prices and systematic risk are associated with minority interests in consolidated subsidiaries and redeemable and nonredeemable
preferred stock for the period 1993-1997.
To further confirm that all the convertible preferred stock is redeemable, another Compustat data item, nonredeemable
preferred stock (data item A209), is collected.
Higher bonuses lead to higher charges and longer surrender periods, and the SEC is concerned that they can effectively become "nonredeemable
" if withdrawals trigger these expenses plus recapture of the bonus.
The REMIC rules require the defeasance collateral to consist of direct, noncallable and nonredeemable
securities or certificates of deposit that are issued by either the United States of America or any of its instrumentalities or guaranteed as to principal and interest by the U.S.
Another type of investment company, the closed-end fund, does not redeem its shares but typically offers a fixed number of nonredeemable
shares that are bought and sold on a stock exchange.(1) A third type of investment company is the unit investment trust.
In Exhibit 5, I have also applied Equation (1) to calculate the price V(bond) of a conventional nonredeemable
FNMA note implicit in the observed ISFD price and the calculated option values as of August 30, 1991.
preferred stock with contingent future
Some bond indentures containing anti-takeover covenants have been written in such a way that the bonds are nonredeemable
for a period of years.
The securities are non-cumulative, are nonredeemable
prior to May 15, 2016, and pay a fixed rate of 8.5% per annum.
Liberty said the preferred shares are voting, participating, nonredeemable
and will have preference over common shares in case the company goes out of business.
Efforts to cut off this line of attack by making pills nonredeemable
("no hand" provisions), allowing only continuing directors to redeem the pill ("dead hand" provisions), or delaying redemption for a specified time after a change in board composition ("slow hand" provisions) were invalidated by a New York court in the 1980s and by the Delaware courts in the late 1990s, (60) although these pills have been legalized in Pennsylvania, Maryland, and Georgia.