I’m vindicated.
music selection: “Doctor My Eyes” — Jackson Browne
I just got notice from my broker that JCP is issuing a FULL CALL on my bond. I will receive par at maturity. Bullet dodged like a ninja!
Devour your prey raptors!
Update JCP bond
I’m vindicated.
music selection: “Doctor My Eyes” — Jackson Browne
I just got notice from my broker that JCP is issuing a FULL CALL on my bond. I will receive par at maturity. Bullet dodged like a ninja!
Devour your prey raptors!
Congratulations!!!
Can you explain this outcome in dollar terms? I.e. Last week I could have sold the bond for $x and now it’s being called for $y.
Chris,
I’m not sure the data I got from my broker is accurate. Perhaps the notice was automatically generated assuming the bond was paying. I got a separate notice that I needed to file a claim. Most recent price was about 3.000. If it pays on the first, I’ll get par plus a coupon payment. I’ll be watching my brokerage account balance.
I have a later dated JCP bond and also received a notice that I needed to file a claim. The date that it needed to be filed by was far enough in the future that I decided I would wait a few weeks to see if it was something I actually needed to do.