Bond Worksheet Terminology
К оглавлению1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 1617 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33
34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50
51 52 53 54
Entering Bond Data and Computing Results
To compute values for price (PRI), modified duration (DUR), or yield
(YLD) and accrued interest (AI), first enter the four known values for
settlement date (SDT), coupon rate (CPN), redemption date (RDT), and
Term Definition
Call Date A callable bond can be retired by the issuing agency
before the maturity date. The call date for such a
bond is printed in the bond contract.
Coupon
Payment
The periodic payment made to the owner of the
bond as interest.
Coupon Rate The annual interest rate printed on the bond.
Dollar Price Price of the security expressed in terms of dollars per
$100 of par value.
Par (Face) Value The value printed on the bond.
Premium Bond A bond that sells for an amount greater than the par
value.
Discount Bond A bond selling for less than the par value.
Redemption
Date
The date on which the issuing agency retires the
bond. This date can be the date of maturity or, for a
callable bond, the call date.
Redemption
Value
The amount paid to the owner of a bond when
retired. If the bond is redeemed at the maturity
date, the redemption value is the par value printed
on the bond. If the bond is redeemed at a call date,
the redemption value is the bond’s par value plus
any call premium. The calculator treats the
redemption value in terms of dollars per $100 of par
value.
Settlement Date The date on which a bond is exchanged for funds.
Yield to
Maturity
The rate of return earned from payments of
principal and interest, with interest compounded
semiannually at the stated yield rate. The yield to
maturity takes into account the amount of premium
or discount, if any, and the time value of the
investment.
redemption value (RV).
If necessary, change the day-count method (ACT or 360) and couponfrequency
(2/Y or 1/Y). The Bond worksheet stores all values and settings
until you clear the worksheet or change the values and settings.
Note: Dates are not changed when you clear a worksheet.
Entering Bond Data and Computing Results
To compute values for price (PRI), modified duration (DUR), or yield
(YLD) and accrued interest (AI), first enter the four known values for
settlement date (SDT), coupon rate (CPN), redemption date (RDT), and
Term Definition
Call Date A callable bond can be retired by the issuing agency
before the maturity date. The call date for such a
bond is printed in the bond contract.
Coupon
Payment
The periodic payment made to the owner of the
bond as interest.
Coupon Rate The annual interest rate printed on the bond.
Dollar Price Price of the security expressed in terms of dollars per
$100 of par value.
Par (Face) Value The value printed on the bond.
Premium Bond A bond that sells for an amount greater than the par
value.
Discount Bond A bond selling for less than the par value.
Redemption
Date
The date on which the issuing agency retires the
bond. This date can be the date of maturity or, for a
callable bond, the call date.
Redemption
Value
The amount paid to the owner of a bond when
retired. If the bond is redeemed at the maturity
date, the redemption value is the par value printed
on the bond. If the bond is redeemed at a call date,
the redemption value is the bond’s par value plus
any call premium. The calculator treats the
redemption value in terms of dollars per $100 of par
value.
Settlement Date The date on which a bond is exchanged for funds.
Yield to
Maturity
The rate of return earned from payments of
principal and interest, with interest compounded
semiannually at the stated yield rate. The yield to
maturity takes into account the amount of premium
or discount, if any, and the time value of the
investment.
redemption value (RV).
If necessary, change the day-count method (ACT or 360) and couponfrequency
(2/Y or 1/Y). The Bond worksheet stores all values and settings
until you clear the worksheet or change the values and settings.
Note: Dates are not changed when you clear a worksheet.