6% annualized yield for the remaining holding period
Does anybody follow this one??? It's a BAC credit and as long as the S&P is above 1216 it will mature and pay 15.91 on February 28, 2014... Present bid side = 15.73 and at 15.73, that's a 5.95% annualized yield for the next two months.... Nothing wrong with that if you're looking to park some money on the sidelines for a couple of months... You have about 35% downside protection on the S&P before the payout would be anything other than 15.91. BTW, there's a similar security, SCT, that matures one month later and it doesn't yield as much as this one and it has not quite as much downside protection.