Today LUTHP is trading at 890 -10 (1.11%). With commission my buy in is 554.59 in July 012. That is a buy equivalent yield of 13.9%. When March of 2017 arrives ALU will have to payoff the Lucent debentures at 1000, therefore the trust will liquidate at 1000. I only wish I had purchased more.
Quite a run for LUTHP. Added it as a Newsletter pick at 567 and dropped it due to increased valuation at 900 a few days ago. LUTHP is still offering a higher yield to maturity than the long term Lucent 2028 bonds, but that yield gap has dropped to about 2% from close to 15% when I first highlighted LUTHP in the "Panick Value 10".
LUTHP is still a good issue at 900, but there are better alternatives. If you liked LUTHP you might like my current high yield Newsletter picks. My yahoo mail is mrpanick for a sample copy with writeups and Excel models for many distressed preferred stock and debt issues.