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PaisleyPPx · 2020年02月07日

问一道题:NO.PZ2018062010000025

问题如下:

An investor buys a plain vanilla bond at a discount and decides to hold it to maturity. Assuming all payments made as scheduled, which of the following source of return is least likely contribute to the bondholder's total return over the investment horizon?

选项:

A.

Capital gain

B.

Principal payment

C.

Reinvestment of coupon payments

解释:

A is correct.

No capital gain when bond is held to maturity.

老师 这是折价买进的债券,到期之后归还本金不是应该按par value归还吗

1 个答案

吴昊_品职助教 · 2020年02月08日

嗨,从没放弃的小努力你好:


无论债券一开始折价、溢价或平价发行,最终在到期日,债券价格回归面值,都会存在本金的归还。 债券在balance sheet中按照amortized cost记账,持有至到期的债券没有capital gain,因此选A。建议记忆一下,很容易忽略这个。


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