http://www2.standardandpoors.com/spf/pdf/index/SP_US_Preferred_Stock_Index_Methodology_Web.pdf http://www2.standardandpoors.com/spf/pdf/index/SP_US_Preferr...

http://www2.standardandpoors.com/spf/pdf/index/SP_US_Preferred_Stock_Index_Methodology_Web.pdf http://www2.standardandpoors.com/spf/pdf/index/SP_US_Preferr... The S&P U.S. Preferred Stock Index is designed to serve the investment community’s need for an investable benchmark representing the U.S. preferred stock market. Highlights The index is comprised of U.S. traded preferred stocks that meet criteria relating to minimum size, liquidity, exchange listing and time to maturity. The index is calculated with a modified capitalization weighted scheme, with modifications being made to index shares to prevent single stock concentration and improve index liquidity. The index is rebalanced once a year, in September, when index shares and constituents are reviewed. Corporate actions such as maturity, conversion, calls and delistings are treated according to a set of rules further defined in this document.