Too Big to Miss!!
Hello Dividend Investing Friend!
I have a delicious fixed income update for you!
This update is based on the notion that the eight Too Big to Fail banks — which do in fact own the Fed — are quite safe, and will make things go their way whatever happens.
So I went through the entire fixed income market to find the best Too Big to Fail fixed income!
PFF is a good non-leveraged ETF that I included for convenience and liquidity as you will see. I also found the best leveraged closed-end funds I could — the idea being the Too Bigs are very safe, so go ahead and juice the yields. Enjoy!
BAC.PB
Fixed 6.00% on par, past call date, non-cumulative. High fixed rate for a Too Big to Fail. Prospectus and summary: https://www.preferredstockchannel.com/symbol/bac.prb/
BAC.PL
Fixed 7.25% on par, no call date, non-cumulative. Convertible. "If the closing price of our common stock exceeds 130% of the then-applicable conversion price for 20 trading days during any period of 30 consecutive trading days, we may at our option cause some or all of the Preferred Stock to be automatically converted into common stock at the then prevailing conversion rate". High fixed rate for a Too Big to Fail. Prospectus and summary: https://www.preferredstockchannel.com/symbol/bac.prl/