Personal Investments • Re: Wells Fargo Preferred L (WFC.PR.L) - Too Good To Be True?

Symbols for preferreds vary from broker to broker and quote system to quote system.

At Schwab the symbol is WFC/PRL and at Fidelity it would be WFCPRL (I think). Other brokers may be different. A good reference on the symbol format by broker is at https://quantumonline.com/PfdSymbolsNames.cfm

I found it and reviewed.

I can buy other preferreds below par with similar yields. I think, the OP can find better in this space.

I’ve never had any trouble selling preferreds, so I’m not at all worried about liquidity here unless something is odd with it. Also, ratings in this space are pretty useless. I’m pretty confident the Fed will never let WFC fail.

I don't doubt one can find other preferreds with similar yield. But are they callable? Most likely yes and will be called if current interest rates fall below the coupon rate and the issuer can refinance at a lower rate (same as bonds that are callable). Also, one needs to compare the risk of other preferreds - i.e., are they as solid as WFC? If so, I refer back to "are they callable."

Statistics: Posted by JazzTime — Fri Dec 06, 2024 9:34 am

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