Preferred Stock Issues – When Is The Risk Worth The Reward?Rupert Hargreaves
Banco Santander, S.A. (NYSE:SAN) Fixed-to-Floating Non-Cumulative Guaranteed Series 11 Preferred Securities (NYSE:SAN.PRF)
Current yield: 10.50%
Liquidation preference: $1,000
Recent market price: $1,000
Total value of preferred stock issued at the end of Q2 2013: EUR 5.4 billion.
First half 2013 EBIT: EUR 10.6 billion . . .
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