Big Banc Split Corp T.BNK

Alternate Symbol(s): T.BNK.PR.A

The investment objectives for the Preferred Shares are to provide their holders with fixed cumulative preferential monthly cash distributions in the amount of $0.05 per Preferred Share ($0.60 per annum or 6.0% per annum on the issue price of $10.00 per Preferred Share) until November 30, 2023 (the Maturity Date) and to return the original issue price of $10.00 to holders on the Maturity Date. The Company will invest on an approximately equally-weighted basis in Portfolio Shares of the following publicly traded Canadian banks: Bank of Montreal; Canadian Imperial Bank of Commerce; National Bank of Canada; Royal Bank of Canada; The Bank of Nova Scotia; and The Toronto-Dominion Bank. The Portfolio will generally be rebalanced on a quarterly basis, starting on September 30, 2020, so that as soon as practicable after each calendar quarter the Portfolio Shares will be held on an approximately equal weight basis.

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Big Banc Split Corp

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Post by Bankorruptseeon Jan 15, 2015 10:11am

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Post# 23322632

Ras Tanura

To move the price of oil, you must first be able to move oil. The last tanker to leave Ras Tanura yesterday, it's belly full of cheap Saudi oil, triggered a spike upward in the price of oil as there was no other ships to follow it's example. The ability to move the price of oil is curtailed by the physical inability to get more oil from the port to sea. If you can't get a product to your customers, then the price matters not.

The vast majority of the oil leaving Ras Tanura will be a while seeing the inside of your gas tank. Oil storage is at a premium, and traders are taking advantage of contango in the oil space. Traders know that oil closer to the end of the year is going for $65, a nice premium to today's price of $45. They know that the storage fees will be less that the gain at the end of the game. Guaranteed profit. So all of this cheap oil is being sopped up, the glut going into storage.