NABHA is one of the few perpetual hybrids and so one never knows...

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    NABHA is one of the few perpetual hybrids and so one never knows when you are going to get your money back. Thus, the current price can be well below the $100. Most hybrids have a known redemption date and so will be priced closer to $100. Hybrids with a higher margin will trade at a higher price, say $108, for example, but will drift down to $100 as the redemption date approaches.
 
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