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Lecture

Introduction to Bond Investing.doc

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Department
Administrative Studies
Course
ADMS 3530
Professor
All Professors
Semester
Fall

Description
1Stocks are considered equity and debt investments2Bondholders are entitled to a higher claim on assets that a stock holder in the event of bankruptcy 3An appeal to bonds to an investorare diversification safety choice4Discount100 A bond trading below its face valuePremium 100 A bond trading above its face valuePar A bond trading at its face value5Bond prices are quoted as a percentage of face value so that a bond quoted at 100 is trading at 100 of its face value or at par6A coupon is the rate of interest the bondholder will receive as a percentage of the face value Usually bonds are paid interest semiannually7A bonds yield represents the return you get on the bond There are two types current yield and yield of to maturity89Basis Point 100 basis points1 therefore 25 bases points025Corporate Debentures An unsecured bond may have a general claim on assets but no specific claim or no claim at all risky10Convertible bond Can be converted into
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