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Constituent Change Announced for the S&P U.S. Preferred Stock Index

S&P Dow Jones Indices will make the following change in the S&P U.S. Preferred Stock Index…


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• The 6.00% Mandatory Convertible Subordinated Bonds due 2013 of AngloGold Ashanti Holdings Finance plc (AU PR A) will be deleted from the S&P U.S. Preferred Stock Index after the close of trading on September 13, 2013 due to a mandatory conversion.
• The 6.10% Capital Securities (TruPS) of Citigroup Capital X (C PR R) have been fully called for redemption and will be deleted from the S&P U.S. Preferred Stock Index after the close of trading on September 30, 2013.

The S&P U.S. Preferred Stock Index is designed to serve the investment community’s need for an investable benchmark representing the U.S. preferred stock market. Preferred stocks are a class of capital stock that pays dividends at a specified rate and has a preference over common stock in the payment of dividends and the liquidation of assets. The index includes all preferred stocks issued by corporations and trading on major U.S. exchanges, subject to criteria relating to minimum size, liquidity and time to maturity.

Source: ETFWorld – S&P Dow Jones Indices

 


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