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The Royal Bank of Scotland Group plc Message Board

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  • rexobXIP rexobXIP Sep 30, 2009 10:50 PM Flag

    Deferral Risk?

    Sold almost all my preferreds last week and monday. Just sitting on my last 1000 series Rs , just to stay in the game.

    Maybe I will hold these til they redeem at par in 5 years.

    Things have just gotten too political, and I can see these trading into the mid single digits.

    Robby, seeing as they suspended the coupon on bonds the other day, what gives you any confidence that they will continue dividends? Seems to me the suspended issue would rank above our preferreds in both payment of coupons and redemption.

    I can't help but feel the handwriting is on the wall, and people are waiting for the confirmation (wow, I've almost talked myself into selling the last 1K)

    Still all in all, I've done reasonably well with these, and picked up some nice divis along the way.

    If the only risk was deferral, I'd probably have hung in, but I think there is still the risk of a cram down or to a lesser degree, full nationalisation.

 
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