Introduction
While we are in a pretty volatile environment where the equity market and the fixed-income securities move a few percent up and down due to fear of the new coronavirus, companies continue to launch their new issues. For the last month, from a total of 10 fixed-income securities issues, 4 are fixed-to-floaters and except the newly issued MFA Financial, Inc. (MFA) Fixed-to-Floating Preferred Stock IPO, 3 more mREITs presented their new IPOs - NRZ-C, AGNCP, and DX-C. In this article, we want to shed light on the newest fixed-to-floating preferred stock.