Post by
deisman on Feb 25, 2016 1:38am
LRE Debentures "Interest flat"
I just picked up an additional $4k of the LRE debentures thinking I wouldn't have to pay accrued interest as per anouncement as follows ........."The Toronto Stock Exchange (the "TSX") has advised the Company that the Debentures, when they commence trading on January 26, 2016, will trade on an interest flat basis until further notice. The TSX has advised that it will not report accrued interest regarding any trades made on an interest flat basis to its participating organizations...... BUT TD Waterhouse dingged me the inteest. Not a whole lot of money but every penny counts. Am I mistaken in my understanding of "interest flat" or did TD Waterhouse screw up?
Comment by
QUANTUMJUMP on Feb 25, 2016 10:57am
jmo but paying outrageous fees with a broker is losing before you start compare prices
Comment by
wilwal on Apr 12, 2016 5:42pm
I should clarify that the additional 3.2% interest from August to January is 3.2% of $100. In reality, if you buy the debs at $70, then the actual interest earned from that period of time is 3.2/.70 = 4.6%.