So does that mean on Friday there were two separate buys of first lien notes of 5 million face each???
On FINRA they don't show the value of the trade over a million. Glad that you were able to see the exact amount on Fidelity. Also it doesn't appear that one was a corrected trade.
Very interesting that 10 million face value of first lien notes were just purchased.
Everyone received 3.25% EVERYONE
So for every dollar of face I received 3.25 cents or 3.25 pennies in cash of series one
For series two it was the same except instead of pennies I received new notes.
There might be very small, tiny, minute differences in the amounts people received due to rounding and the odd number of shares they originally held.
Danti Im not sure why you don't understand but I will attempt to explain.
Your notes earn 13% yearly interest. This is paid quarterly, every 3 months in an amount of 3.25% interest. 3.25% paid 4 times a year will get you 13%
Your brokerage made a mistake when they paid you interest in cash on your 2nd lien notes. They took that money back. The interest for your second lien notes was now given to you not in cash but with extra notes.
You ask how $104.13 is calculated well....you take the 104.13 and divide by 3,204. This equals 0.0325 This is 3.25%
You were given 3.25% in cash for your first lien notes
You were given 3.25% in more notes for your second lien notes
Yes it seems those who got cash interest on the second lien have had the payment reversed.
Looks like everyone has already or will receive cash interest for the first lien and PIK interest on the second lien.
I think some people received cash interest on their second lien notes mistakenly by their brokerage.
Those people seem to be reporting on other boards that the mistake has now been corrected and that cash was issued on the first lien notes and PIK interest on the second lien.
I'd like to think that the recent 16.5M will be distributed fairly soon. I would be pretty surprised actually if we did not receive that in the next week or so.
Ok so my first lien notes were paid interest in cash already
Just checked my brokerage and interest on second lien notes were paid with additional notes.....
Fish...marty has had "issues" with his PIERS amounts ever since the last 1099B/1099 INT debacle
The amounts reported on those were supposedly way more than he held.
Either he forgot how many he actually owns or the bank has made a serious "error" in his favor
There was 497901 of one series traded and 156312 of the other. This amounts to a total of $654,213 combined. Not sure where you were looking but this is from finra.
Interesting. Mine was for CUSIP 92936PAA8
Hopefully both of ours get the other one sooner than later....without having to spend hours on the phone!
I received 3.25% (quarterly payment on a 13% note)
But so far it was only for one of two series issued (the greater one)
Hopefully the other one will have its interest post to my account soon.
And surprisingly I was able to transfer the money immediately into my checking account and is now available for withdrawal.
Guess the theory on PIERS never receiving actual money can finally be put to rest!!!
My brokerage account is showing a cash distribution for one of my series of notes but not both. Hopefully the other will show up by Monday.
Anybody else missing interest or did you receive for both series of notes?
Both notes saw activity today. Dealer bought from a customer and then promptly sold to another customer. 100 cents on the dollar.
Previously was just dealer buys but now we are seeing sales to customers as well.
Hopefully June brings more activity.
My bank account is finally showing a value for my notes. Before these trades the notes were always listed as $0.00
Now they are showing a value of 100 cents on the dollar.
Brand were you able to get a bid from your broker?
brand i think 96 goes to piers but their total claim left is not reduced by 96 but rather 84.....due to interest....could be wrong though
Brand while it would be great if 'the bank erred in your favor', I'd hate for you to pay taxes on something this year that you have no chance of ever receiving. Not to mention having to deal with filing amended returns....
Have your LTI letters always shown the correct total balance amount outstanding?
Brand I finally received both my corrected 1099 INT as well as the 1099 B in the mail today.
The amount on the B is the same as the first INT. Roughly 21 cents a share was reported.
If you haven't received yours yet I'd suggest speaking to Angela and getting them emailed (she did for me yesterday).