(a) 期限/到期日
(b) 面值
(c) 债务与股权
(d) 债券收益率
(e) 债券息票
(f) 风险
(g) 债券持有人与股东的冲突
(h) 通知条款
(i) 偿债基金
(j) 应计利息，干净与肮脏的债券
(k) 债券
(l) 次级债券

(YTM)

1 8 10.2% A 8.0% \$1,000
2 7 8.0% B 9.0% \$1,000
3 15 9.5% C 7.5% \$1,000
4 20 天 \$1,075.00 8.5% \$1,000
5 E 7.0% \$963.80 6.49% \$1,000
6 13 7.8% \$1,140.60 F \$1,000

Problem 1:
Define the following terms with regards to the nature of a bond.

(a) term/maturity
(b) face value
(c) debt vs. equity
(d) bond yields
(e) bond coupons
(f) risk
(g) conflict of bondholders with stockholders
(h) call provisions
(i) sinking funds
(j) accrued interest, clean vs. dirty bonds
(k) debenture
(l) subordinated debenture

Problem 2:
What is interest rate or price risk? Why is it sometimes called maturity risk? Explain fully.

Problem 3:
Find the missing information for each of the following bonds. The coupons are paid in semiannual
installments.

BOND T (YEARS)
YIELD TO
MATURITY
(YTM)
PRESENT
VALUE
COUPON
RATE
FACE
VALUE
1 8 10.2% A 8.0% \$1,000
2 7 8.0% B 9.0% \$1,000
3 15 9.5% C 7.5% \$1,000
4 20 D \$1,075.00 8.5% \$1,000
5 E 7.0% \$963.80 6.49% \$1,000
6 13 7.8% \$1,140.60 F \$1,000