Anyone know if the new preferred series d will trade on pink sheets before listing on nyse?I read something to that effect when preferreds are issued there is a small discount before the actual listing.
Yes it probably will trade on the pink sheets, possibly under a temperary symbol. No you won't get a discount, often you do get a better price but that's all about supply and demand not a discount. Underwriters may be eager to lower their inventory quickly. Be forewarned that this is an inefficient way for the little guy to trade and you probably won't get the best price. Put in a limit order at a bargain price and maybe you'll get lucky but don't be surprised if it trades below your price and your order never gets executed.