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PIBO aftermath
Sharon
#1 Posted : Thursday, November 19, 2009 7:19:00 AM
Rank: Member


Joined: 8/1/2008
Posts: 7
Dear All,
There are a number of things that are not clear in this pibo
1.How do i know that my application was successful
2.The details of PIBO was to be recorded and updated at CDSC but my current statement does not reflect that
3.Were all the applications prorated in terms of application?
4.How do i selloff this thing?
5.When do i expect the first interest payment?

My broker is not giving me adequate info and i will appreciate any insight from my fellow skerians
KulaRaha
#2 Posted : Thursday, November 19, 2009 7:51:00 AM
Rank: Elder


Joined: 7/26/2007
Posts: 6,514
Youll have trouble selling since there isnt a single calculator agreed upon for pricing.

I cant believe CMA approved that paper without sorting such basic matters.


Business opportunities are like buses,there's always another one coming
Business opportunities are like buses,there's always another one coming
mukiha
#3 Posted : Thursday, November 19, 2009 8:32:00 AM
Rank: Elder


Joined: 6/27/2008
Posts: 4,114
@Sharon;

This is shocking!

You bought the bond without even looking at the interest payment dates?

To sell it,call your broker and place a sale order. It's that easy...

The big question is whether you'll get a buyer.

But have a look at your prospectus and you will see all the interest dates and the amounts you should expect to get.

Behind the gardens...Behind the wall...Under the tree (Including: Red...Dark Blue...Yellow)
Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.
kizee
#4 Posted : Thursday, November 19, 2009 8:45:00 AM
Rank: Member


Joined: 1/9/2008
Posts: 537
has anyone noticed that some coupons fall on saturdays and sundays...and that the arranger tuk liberties such as wekarin day basis to 363 days???
VituVingiSana
#5 Posted : Thursday, November 19, 2009 8:49:00 AM
Rank: Chief


Joined: 1/3/2007
Posts: 18,060
Location: Nairobi
PIBO document should have the dates... remember Sat or Sun means you get the payment the NEXT business day...

Greedy when others are fearful,Very fearful when others are greedy - to paraphrase WB
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
kizee
#6 Posted : Thursday, November 19, 2009 9:09:00 AM
Rank: Member


Joined: 1/9/2008
Posts: 537
with other bonds coupons never fall on saturdays on sundays...if not the value of the bond changes...
VituVingiSana
#7 Posted : Thursday, November 19, 2009 9:14:00 AM
Rank: Chief


Joined: 1/3/2007
Posts: 18,060
Location: Nairobi
@kizee - There was some confusion on that... someone had messed up the calcs (tho that is not huge in the grand scheme) which was corrected later...

Greedy when others are fearful,Very fearful when others are greedy - to paraphrase WB
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
kizee
#8 Posted : Thursday, November 19, 2009 9:20:00 AM
Rank: Member


Joined: 1/9/2008
Posts: 537
nope

it has not been corrected please recheck...they sent an email to ammend but havnt in addition they sold the bond value 30th and credited guys value 2nd robbing guys of accrued interest on the bond(3 days!)...this second error cannot and has not been corrected
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