John,
JPM has six pfds. I think what you gained in CY by swapping JPM-J for JPM-L, you might have lost in YTC. Note: the prices are as quoted by Schwab at market open and are now stale. Hence, the CY’s and YTC’s will have changed.
Were I me, I’d have bought JPM-M to minimize my price risk and to maximize my possible YTC. But then, each investor has his/her own way of looking at things.
Arindam
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**Symbol Callable CPN CY YTC Last**
**JPM/PRD 12/01/23 5.75 5.78% 6.19% $24.85**
**JPM/PRC 03/01/24 6.00 5.87% 4.62% $25.55**
**JPM/PRJ 12/01/24 4.75 5.59% 12.03% $21.23**
**JPM/PRK 06/01/26 4.55 5.80% 11.46% $19.61**
**JPM/PRL 06/01/26 4.63 5.84% 11.28% $19.79**
**JPM/PRM 09/01/26 4.20 5.64% 12.09% $18.62**