问题如下:
A five-year Euro-denominated bond was issued in Mar 2016. Assume it has a coupon rate of 8% and paid quarterly. If today is Mar 1, 2018, and the price of bond is currently at 105% of par. Which of the following is correct?
选项:
A.The bond’s nominal rate is 8%.
B.The bond’s tenor is five years.
C.The bond’s redemption value is 105% of par.
解释:
A is correct.
The nominal rate is bond's coupon rate. The coupon rate of this bond is 8%, so its nominal rate is 8%. The bond is issued two years ago and has a maturity of five years. The remaining time until bond's maturity is three years, therefore the tenor is three years. 105% of par is the bond's current price, which is equal to 105% of par value. The redemption value is the amount that the issuer agrees to repay the bondholders on the maturity date. This amount is also called principal amount, principal value, par value, face value, nominal value, or maturity value.
A为什么是对的啊?PV=-105,PMT=2,FV=100,N=12,I/Y=1.54,利率应该为6.16啊。