Preferred Shares Yield to Call

Security Bank - Trust and Asset Management

Enter values in yellow cells. Maximum time-to-call is 25 years.

Preferred Stock Code: ACPB2 Ayala Corp. Class "B" Series 2 Pref.
Current Price: Php 508.00
Call Price: Php 500.00

Year Month Day

Settlement Date: 2018 6 13
Call Date: 2019 11 5

Quarterly Dividend ($): Php 6.96875

Dividend %: 5.5750%
Issue Price: Php 500.00
Cycle (1=JAJO, 2=FMAN, 3=MJSD): 2 FMAN February, May, August, November
Pay Date (1-31): 31
Include first dividend? (1=yes, 0=no): 1 yes Next Pay Date:
First dividend value (if different): Value:

Current Yield 5.487% Php 41.81

Annualized quarterly Yield-to-Call¹ Err:504 Php (8.00)

1. Use this spreadsheet at your own risk. Please report any calculation errors to the author.
The annualized quarterly yield (4*((1+Y)^0.25-1), where Y is the annual yield) is conventionally
used for preferred shares.

Note: If you see #NAME? in the Yield-to-Call box install the Analysis Toolpak
add-in via the Tools menu.

2. All yields are indicative, subject to associated transaction costs and taxes to be withheld.
 No. Date Cash Flow
13/Jun/18 Php (508.00)
1 5/Aug/18 #VALUE! Next Pay Mth Est1
2 5/Nov/18 #VALUE! Next Pay Mth Est2
3 5/Feb/19 #VALUE! Next Pay Year Est1
B" Series 2 Pref. 4 5/May/19 #VALUE!
5 5/Aug/19 #VALUE! Next Pay Mth Est3
6 5/Nov/19 Php 506.97 Next Pay Mth Est4
Next Pay Year Est2

June 13, 2018

November 5, 2019

y, May, August, November

August 5, 2018
Php 6.96875

Total Dividends
Capital Gain/Loss

to the author.
s conventionally

xes to be withheld.
 Cycle: 2 Year Month Div. Date Date Call
Cycles Finished: 1 2018 6 13/Jun/18 13/Jun/18
Next Pay Mth Est1: 8 2018 8 5/Aug/18 05/Aug/18
Next Pay Mth Est2: 8 2018 11 5/Nov/18 05/Nov/18
Next Pay Year Est1: 2018 2019 2 5/Feb/19 05/Feb/19
After Dividend? 0 2019 5 5/May/19 05/May/19
Next Pay Mth Est3: 8 2019 8 5/Aug/19 05/Aug/19
Next Pay Mth Est4: 8 2019 11 5/Nov/19 05/Nov/19 1
Next Pay Year Est2: 2018 2020 11 5/Feb/20 05/Nov/19
Frequency: 3 2020 11 5/May/20 05/Nov/19
2020 11 5/Aug/20 05/Nov/19
2020 11 5/Nov/20 05/Nov/19
2021 11 5/Feb/21 05/Nov/19
2021 11 5/May/21 05/Nov/19
2021 11 5/Aug/21 05/Nov/19
2021 11 5/Nov/21 05/Nov/19
2022 11 5/Feb/22 05/Nov/19
2022 11 5/May/22 05/Nov/19
2022 11 5/Aug/22 05/Nov/19
2022 11 5/Nov/22 05/Nov/19
2023 11 5/Feb/23 05/Nov/19
2023 11 5/May/23 05/Nov/19
2023 11 5/Aug/23 05/Nov/19
2023 11 5/Nov/23 05/Nov/19
2024 11 5/Feb/24 05/Nov/19
2024 11 5/May/24 05/Nov/19
2024 11 5/Aug/24 05/Nov/19
2024 11 5/Nov/24 05/Nov/19
2025 11 5/Feb/25 05/Nov/19
2025 11 5/May/25 05/Nov/19
2025 11 5/Aug/25 05/Nov/19
2025 11 5/Nov/25 05/Nov/19
2026 11 5/Feb/26 05/Nov/19
2026 11 5/May/26 05/Nov/19
2026 11 5/Aug/26 05/Nov/19
2026 11 5/Nov/26 05/Nov/19
2027 11 5/Feb/27 05/Nov/19
2027 11 5/May/27 05/Nov/19
2027 11 5/Aug/27 05/Nov/19
2027 11 5/Nov/27 05/Nov/19
2028 11 5/Feb/28 05/Nov/19
2028 11 5/May/28 05/Nov/19
2028 11 5/Aug/28 05/Nov/19
2028 11 5/Nov/28 05/Nov/19
2029 11 5/Feb/29 05/Nov/19
2029 11 5/May/29 05/Nov/19
2029 11 5/Aug/29 05/Nov/19
2029 11 5/Nov/29 05/Nov/19
2030 11 5/Feb/30 05/Nov/19
2030 11 5/May/30 05/Nov/19
2030 11 5/Aug/30 05/Nov/19
2030 11 5/Nov/30 05/Nov/19
2031 11 5/Feb/31 05/Nov/19
2031 11 5/May/31 05/Nov/19
2031 11 5/Aug/31 05/Nov/19
2031 11 5/Nov/31 05/Nov/19
2032 11 5/Feb/32 05/Nov/19
2032 11 5/May/32 05/Nov/19
2032 11 5/Aug/32 05/Nov/19
2032 11 5/Nov/32 05/Nov/19
2033 11 5/Feb/33 05/Nov/19
2033 11 5/May/33 05/Nov/19
2033 11 5/Aug/33 05/Nov/19
2033 11 5/Nov/33 05/Nov/19
2034 11 5/Feb/34 05/Nov/19
2034 11 5/May/34 05/Nov/19
2034 11 5/Aug/34 05/Nov/19
2034 11 5/Nov/34 05/Nov/19
2035 11 5/Feb/35 05/Nov/19
2035 11 5/May/35 05/Nov/19
2035 11 5/Aug/35 05/Nov/19
2035 11 5/Nov/35 05/Nov/19
2036 11 5/Feb/36 05/Nov/19
2036 11 5/May/36 05/Nov/19
2036 11 5/Aug/36 05/Nov/19
2036 11 5/Nov/36 05/Nov/19
2037 11 5/Feb/37 05/Nov/19
2037 11 5/May/37 05/Nov/19
2037 11 5/Aug/37 05/Nov/19
2037 11 5/Nov/37 05/Nov/19
2038 11 5/Feb/38 05/Nov/19
2038 11 5/May/38 05/Nov/19
2038 11 5/Aug/38 05/Nov/19
2038 11 5/Nov/38 05/Nov/19
2039 11 5/Feb/39 05/Nov/19
2039 11 5/May/39 05/Nov/19
2039 11 5/Aug/39 05/Nov/19
2039 11 5/Nov/39 05/Nov/19
2040 11 5/Feb/40 05/Nov/19
2040 11 5/May/40 05/Nov/19
2040 11 5/Aug/40 05/Nov/19
2040 11 5/Nov/40 05/Nov/19
2041 11 5/Feb/41 05/Nov/19
2041 11 5/May/41 05/Nov/19
2041 11 5/Aug/41 05/Nov/19
2041 11 5/Nov/41 05/Nov/19
2042 11 5/Feb/42 05/Nov/19
2042 11 5/May/42 05/Nov/19
2042 11 5/Aug/42 05/Nov/19
2042 11 5/Nov/42 05/Nov/19
2043 11 5/Feb/43 05/Nov/19
2043 11 5/May/43 05/Nov/19

1
Dividend Principal Total
Php (508.00) Php (508.00)
Php 6.97 #VALUE!
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Php 6.97 #VALUE!
Php 6.97 #VALUE!
Php 6.97 Php 500.00 Php 506.97
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= = = = ==========
Php41.81 Est. IRR: Err:504
Quarterly Yield: Err:504
Symbol Name
ABSP ABS-CBN Holdings Corporation "PDR"
ACPA Ayala Corporation Preferred Class "A"
ACPB2 Ayala Corp. Class "B" Series 2 Pref.
BCP Benguet Corporation Conv. Pref. "A"
DDPR DoubleDragon Properties Corp. Pref.
FBP2 San Miguel Food and Beverage, Inc. Preferred
FGENF First Gen Corporation - Preferred
FGENG First Gen Corporation - Series G Pref.
FPHP First Phil. Holdings Corp. Pref Series B
GLOPA Globe Telecom, Inc - Preferred "A"
GLOPP Globe Telecom, Inc. - Perpetual Pref.
GMAP GMA Holdings, Inc. "PDR"
LRP Leisure and Resorts World Corp.-Pref
MWP Megawide Const. Corp. - Perpetual Pref.
PNX3A Phoenix Petroleum - Non-Voting Pref. 3A
PNX3B Phoenix Petroleum - Non-Voting Pref. 3B
PRF2A Petron Corp. - Perpetual Pref. Series 2A
PRF2B Petron Corp. - Perpetual Pref. Series 2B
SFIP Swift Foods, Inc. Conv. Pref.
SMC2A San Miguel Corporation Series 2-A Pref.
SMC2B San Miguel Corporation Series 2-B Pref.
SMC2C San Miguel Corporation Series 2-C Pref.
SMC2D San Miguel Corporation Series 2-D Pref.
SMC2E San Miguel Corporation Series 2-E Pref.
SMC2F San Miguel Corporation Series 2-F Pref.
SMC2G San Miguel Corporation Series 2-G Pref.
SMC2H San Miguel Corporation Series 2-H Pref.
SMC2I San Miguel Corporation Series 2-I Pref.