Introduction
Since September last year, when Public Storage, Inc. (PSA) was the first company since 2016 to issue preferred stock with a nominal yield of below the 5% threshold with PSA-I (4.875% nominal yield), companies began to cross this threshold more and more often, issuing their exchange-traded fixed-income securities with a nominal yield of below 5%. In June, Public Storage again even issued the preferred stock with the lowest nominal yield from all this year's IPOs, PSA-L. You can check our IPO article about PSA-L by clicking the following article: Public Storage: This