Gen.acc.7se.pf Share Price (GACB)

And so fourth

Thanks for the info. Seems we have this to look forward to :-((

No loss in capital but loss of high yield and not many options to replace it without risk

Bank of Ireland recently bought out Bristol and West prefs at about a 12% premium. A decent outcome, but not ideal.

I have quite a few of these myself but there is a cloud on the horizon in 2025. As I remember, in 2025 these preference shares cannot be included in Aviva’s tier one capital and therefore there will be pressure to replace them or buy them out. What such terms would be anyone could guess but given the past debacle I can’t think we would leave us worse off. Could be a loan stock offering a yield similar to what we earn today? ( this is what Lloyds bank did a few years ago which was great until they cancelled the loan stick a few years later at an unfair rate to the holders.

I am optimistic in that given the past debacle any buy out will be fair and therefore we should enjoy the returns for now

The 2018 debacle ended up with the CEO departing and compensation being paid. I cannot, see that happening again.

A new owner of Aviva might decide to buyback all preference shares; adds risk. Remember 2018, proposing they could do so 'at par'. Sadly I missed getting some when it was sub-par a few months ago, but I'd have had to take into account the stamp duty & dealing fee.

I've always found that when I get good money coming in, someone is waiting in the wings to take it off me. Most recently that has been electric tariffs; we now search for fixed rate deals in the same way as we sought fixed rate mortgages.