How to look up bond symbols for a CDN bond
How to look up bond symbols for a CDN bond
Hi everyone:
My Mom has some bonds we're trying to identify. On her monthly statements the only thing that shows is, (I think)
Reuters symbols.
e.g. BNS INT CYCCALL AW7 20DEC15
All I know so far is that this is a Bank of Nova Scotia security with a maturity date of DEC20, 2015.
I don't know what "CYCCALL" "INT" or "AW7" mean. Can anyone decode this for me?
Also, for future, is there some kind of lookup table or Website or something which I could use to decode these
names?
Thanks
My Mom has some bonds we're trying to identify. On her monthly statements the only thing that shows is, (I think)
Reuters symbols.
e.g. BNS INT CYCCALL AW7 20DEC15
All I know so far is that this is a Bank of Nova Scotia security with a maturity date of DEC20, 2015.
I don't know what "CYCCALL" "INT" or "AW7" mean. Can anyone decode this for me?
Also, for future, is there some kind of lookup table or Website or something which I could use to decode these
names?
Thanks
Re: How to look up bond symbols for a CDN bond
Why don't you ask your broker?
"Everybody has a plan until they get punched in the face." Mike Tyson
Re: How to look up bond symbols for a CDN bond
Hi:
That would be the logical choice, yes. But it's not my broker. It's my Mom's. And he is very uncooperative.
We are in the process of changing to another broker. But I'd like to be able to figure this out for myself.
That would be the logical choice, yes. But it's not my broker. It's my Mom's. And he is very uncooperative.
We are in the process of changing to another broker. But I'd like to be able to figure this out for myself.
Re: How to look up bond symbols for a CDN bond
Ask your own broker then to decipher it. It will be standard 'bond lingo' that any broker should be explain.
finiki, the Canadian financial wiki The go-to place to bolster your financial freedom
Re: How to look up bond symbols for a CDN bond
You're not listening. Our current broker is an *ss. He doesn't listen, argues, and gives us no info. If I could
fire him tomorrow, I would.
But I have more things on my plate than you could possibly imagine. So...how about my original question?
fire him tomorrow, I would.
But I have more things on my plate than you could possibly imagine. So...how about my original question?
- Shakespeare
- Veteran Contributor
- Posts: 23396
- Joined: 15 Feb 2005 23:25
- Location: Calgary, AB
Re: How to look up bond symbols for a CDN bond
You need a bond salesman/dealer (or former such).
Try Financial Wisdom Forum - Viewing profile - Norbert Schlenker or Financial Wisdom Forum - Viewing profile - jiHymas by PM.
Try Financial Wisdom Forum - Viewing profile - Norbert Schlenker or Financial Wisdom Forum - Viewing profile - jiHymas by PM.
Sic transit gloria mundi. Tuesday is usually worse. - Robert A. Heinlein, Starman Jones
Re: How to look up bond symbols for a CDN bond
You mean there is NO way of looking up these codes without being/having access to a dealer?
Ah, jeez.
Ah, jeez.
- Shakespeare
- Veteran Contributor
- Posts: 23396
- Joined: 15 Feb 2005 23:25
- Location: Calgary, AB
Re: How to look up bond symbols for a CDN bond
No, it means I - and anybody else who posted here - don't know what they mean.
Norbert or James might.
Norbert or James might.
Sic transit gloria mundi. Tuesday is usually worse. - Robert A. Heinlein, Starman Jones
- Norbert Schlenker
- Veteran Contributor
- Posts: 7960
- Joined: 16 Feb 2005 09:56
- Location: An Argument Surrounded By Water
- Contact:
Re: How to look up bond symbols for a CDN bond
It's 9 weeks past that date. If these securities are still in the account, what you assume is the maturity date can't possibly be.Hogwild wrote:Hi everyone:
My Mom has some bonds we're trying to identify. On her monthly statements the only thing that shows is, (I think)
Reuters symbols.
e.g. BNS INT CYCCALL AW7 20DEC15
All I know so far is that this is a Bank of Nova Scotia security with a maturity date of DEC20, 2015.
Likely something to do with the bank having an option to redeem option at a Canada Yield price.I don't know what "CYCCALL"
Might mean it's a coupon stripped out of a bond. Might mean it's something issued by an international subsidiary. Who knows?"INT"
Not me.or "AW7" mean. Can anyone decode this for me?
First thing I'd look for, or ask the broker for, is the confirm for the purchase. If you have a file of statements, you should be able to identify approximately when the thing appeared in the account. A confirm would have a better description than this gobbledygook.
Also, look at the past year's statements, or a tax summary, for income paid into the account by this security. The size and timing of those payments would provide more clues.
Nothing can protect people who want to buy the Brooklyn Bridge.
Re: How to look up bond symbols for a CDN bond
Norbert:
Thank you very much for that. That is helpful. I apologize for being snarky earlier. I am ill at the moment.
Second, I should have been more clear, yes, that bond was called back in 2015.
I have not been able to find the transaction statement for that bond. Allow me to explain (though I'm sure you've
heard this one before):
I am at the tail end of cleaning up 17 years worth of paperwork for my elderly Mom, and I myself am struggling with
my health. My Mom didn't bother to worry about little things like making sure we had all the statements, summaries,
and so on. She had a phobia of such things, because she was not good at them.
I will look at the year-end summary to learn more. If anyone can think of any other resource, however, it would
be appreciated. Until we switch investment "advisors", we are stuck with our current person, who does almost
zero for us. He makes it painful every step of the way. As time allows...
Thanks
Thank you very much for that. That is helpful. I apologize for being snarky earlier. I am ill at the moment.
Second, I should have been more clear, yes, that bond was called back in 2015.
I have not been able to find the transaction statement for that bond. Allow me to explain (though I'm sure you've
heard this one before):
I am at the tail end of cleaning up 17 years worth of paperwork for my elderly Mom, and I myself am struggling with
my health. My Mom didn't bother to worry about little things like making sure we had all the statements, summaries,
and so on. She had a phobia of such things, because she was not good at them.
I will look at the year-end summary to learn more. If anyone can think of any other resource, however, it would
be appreciated. Until we switch investment "advisors", we are stuck with our current person, who does almost
zero for us. He makes it painful every step of the way. As time allows...
Thanks
Re: How to look up bond symbols for a CDN bond
I empathize with you. Had the same experience cleaning up my father's estate back in the '90s. It is hard to believe almost ANY retail investor got things right before the internet in the mid-90s started enlightening the younger set.
There have been many posts in forums over the years on these issues though mostly around equities, both shares and mutual funds. The investor relations departments of companies have been pretty good assisting those of us delegated to clean up. You could always send a query to the Scotia's IR department for some help on your problem. Whether they are as responsive as other public companies I don't know.
There have been many posts in forums over the years on these issues though mostly around equities, both shares and mutual funds. The investor relations departments of companies have been pretty good assisting those of us delegated to clean up. You could always send a query to the Scotia's IR department for some help on your problem. Whether they are as responsive as other public companies I don't know.
finiki, the Canadian financial wiki The go-to place to bolster your financial freedom
Re: How to look up bond symbols for a CDN bond
Thanks for the understanding. Well, I know it's a common problem, but you have to know how my Mom dealt with it.
No particular filing system. Anything went anywhere. I'm just about to be finished all of it soon, but it's taken a toll
on my health (literally).
I think I called BNS at one point, and they said they had no idea, but maybe I should try again. Shouldn't it be illegal
for there not be a plain English name of the security on the statement?
This is with Richardson GMP, BTW. I have been almost entirely disgusted by their service and their attitude toward
service. Can't say I'd recommend them to anyone.
No particular filing system. Anything went anywhere. I'm just about to be finished all of it soon, but it's taken a toll
on my health (literally).
I think I called BNS at one point, and they said they had no idea, but maybe I should try again. Shouldn't it be illegal
for there not be a plain English name of the security on the statement?
This is with Richardson GMP, BTW. I have been almost entirely disgusted by their service and their attitude toward
service. Can't say I'd recommend them to anyone.
Re: How to look up bond symbols for a CDN bond
Investor Relations departments are supposed to be investor friendly (though sometimes are not). I've mostly had decent responses.
finiki, the Canadian financial wiki The go-to place to bolster your financial freedom
Re: How to look up bond symbols for a CDN bond
Hi everyone:
If anyone is still following this, I kept digging via Web searches. I'm stubborn that way.
I came across a document entitled "CDS Services for Stripped Securities". Turns out the broker had put my Mom into
a few strip bonds and similar. On pages 22-24 of the above document, I found some diagrams/legends that explain the codes.
Below explains some of the codes in that booklet.
There are multiple syntaxes - too much to describe here. That's because the syntax varies based on the type
of bond or package. However, the abbreviations themselves tend to stay constant.
Typically, we start with Issuer Name:
e.g. BNS
Often followed by Type of Strip Bond:
INT = Interest
PRIN = Principal
After that, you will often see a 3-character code (2 letters, one number). That code
is characters 9, 10 and 11 of the ISN number.
If strip bonds are packaged together, Bond-type package abbreviations are as follows:
PKG or PK = Principal component included in package
IP = All payments funded by interest components
RP = All payments funded by principal (residue) components
DR = Dual Rate package
CP = Callable Residue package
MIP = Multiple Rate package
Special Codes
TR = A separate trust agreement governs the strip bond for
certain events, such as defaults and voting rights.
RR = Strip bond payments i from a real return bond;
payment will be adjusted accordingly
$US = Strip bond pays in $US
CYC = Underlying security or strip bond may be called by the issuer
at a price ased on current Gov't of Canada yields
TX = Underlying security may be called by the issuer if withholding
tax laws change
CALL = underyling security may be called by issuer at any time
IN = Strip bond payment will be adjusted for the change in an index
If the bond symbol has a Payment Schedule component:
S=Semi-annual
Q=Quarterly
A=Annual
M=Monthly
Like with most bonds, you will often find the Maturity Date at the end
e.g. 6OCT11
-------------------------------------------------------------------------------------------------
So, my original posting was about the following bond:
BNS INT CYCCALL AW7 20DEC15
BNS = Bank of Nova Scotia
INT = Type of strip bond is Interest
CYC = Underlying strip bond may be called by issuer at a price based on current Gov't of Canada yields
CALL = underlying security may be called at any time
20DEC15 = Bond matures 20th December, 2015
I still can't find a guide for further abbreviations, and so I do not know what "AW7" stands for. I'm not sure it's
the packager of bonds, as when I Google it, all I get is info. on a US company called "Zions Bancorp".
I hope this helps other people.
If anyone is still following this, I kept digging via Web searches. I'm stubborn that way.
I came across a document entitled "CDS Services for Stripped Securities". Turns out the broker had put my Mom into
a few strip bonds and similar. On pages 22-24 of the above document, I found some diagrams/legends that explain the codes.
Below explains some of the codes in that booklet.
There are multiple syntaxes - too much to describe here. That's because the syntax varies based on the type
of bond or package. However, the abbreviations themselves tend to stay constant.
Typically, we start with Issuer Name:
e.g. BNS
Often followed by Type of Strip Bond:
INT = Interest
PRIN = Principal
After that, you will often see a 3-character code (2 letters, one number). That code
is characters 9, 10 and 11 of the ISN number.
If strip bonds are packaged together, Bond-type package abbreviations are as follows:
PKG or PK = Principal component included in package
IP = All payments funded by interest components
RP = All payments funded by principal (residue) components
DR = Dual Rate package
CP = Callable Residue package
MIP = Multiple Rate package
Special Codes
TR = A separate trust agreement governs the strip bond for
certain events, such as defaults and voting rights.
RR = Strip bond payments i from a real return bond;
payment will be adjusted accordingly
$US = Strip bond pays in $US
CYC = Underlying security or strip bond may be called by the issuer
at a price ased on current Gov't of Canada yields
TX = Underlying security may be called by the issuer if withholding
tax laws change
CALL = underyling security may be called by issuer at any time
IN = Strip bond payment will be adjusted for the change in an index
If the bond symbol has a Payment Schedule component:
S=Semi-annual
Q=Quarterly
A=Annual
M=Monthly
Like with most bonds, you will often find the Maturity Date at the end
e.g. 6OCT11
-------------------------------------------------------------------------------------------------
So, my original posting was about the following bond:
BNS INT CYCCALL AW7 20DEC15
BNS = Bank of Nova Scotia
INT = Type of strip bond is Interest
CYC = Underlying strip bond may be called by issuer at a price based on current Gov't of Canada yields
CALL = underlying security may be called at any time
20DEC15 = Bond matures 20th December, 2015
I still can't find a guide for further abbreviations, and so I do not know what "AW7" stands for. I'm not sure it's
the packager of bonds, as when I Google it, all I get is info. on a US company called "Zions Bancorp".
I hope this helps other people.
Last edited by Hogwild on 04 Apr 2016 10:21, edited 2 times in total.
Re: How to look up bond symbols for a CDN bond
Not sure how far along you are in the process of moving to a new broker, but why don't you ask the new broker. If he wants the business she should be able to find out for you.
I could guess but it has been a while since I was a broker and there are a lot of codes.
Cheers
I could guess but it has been a while since I was a broker and there are a lot of codes.
Cheers