Again, perhaps I wasn't paying proper attention when I thought I was buying a few bucks of "AT&T". I see now the more proper symbol for AT&T stock is simply T. So I'm not really sure what the ATT was that I bought. Maybe it was some sort of bond fund.
Anyhow I had made some dividend off it, so I'm moving on I guess. I think I'll dump it and switch to some KO & T for that pot of "safe" money.
Wow, that's a new one for me too.
Makes me wonder what else is lurking in the fine print of trading.
Its not lurking anywhere but next to the maturity amt, rates and terms in the prospectus in easy to read words and format. Many cheap finance books can educate you on this. Fact some US Treasury Bonds were also Callable. Callable vs non-Callable have a different market price.
Preferred stock is a special class of shares that may have any combination of features not possessed by common stock.
The following features are usually associated with preferred stock:
Preference in dividends.
Preference in assets in the event of liquidation.
Convertible into common stock.
Callable at the option of the corporation.
Yep... its a Bond... changed NYSE listing from ATT to ATT-CL
Effective immediately, the 6.375% Senior Notes due February 15, 2056 of AT&T INC. shall be dealt in as called issues (ATT CL). This issue will be called for redemption on February 15, 2012 at $25.00 per share plus any accrued dividends/distributions. All orders for uncalled stocks (ATT) are cancelled. NYSE Ticker Symbol: ATT CL Post: 6 Section: L
I also bought some of this thinking it was AT & T stock at 24.89 on etrade. Since I made some dividand on it I just bought some more today at 24.99. If they are buying it back I wonder they will pay me what I paid or 25.00 each?
happened to me too ... thanks for the post, now I understand. Pretty dumb that they used the symbol ATT, in this day and age when so many average folks are trading. I'm a CPA and somewhat savvy investor, but I didn't see this one