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velaine · 2020年11月16日

问一道题：NO.PZ2018062006000001

  1. CFA I
  2. Fixed Income

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.

请问C选项 如何改才是正确的？

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1 个答案

吴昊_品职助教 · 2020年11月16日

同学你好：

如果改成redemption value is 100% of par就正确了，因为redemption value就是par value。

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NO.PZ2018062006000001问题如下A five-yeEuro-nominatebonwissuein M2016. Assume it ha coupon rate of 8% anpaiquarterly. If toy is M1, 2018, anthe priof bonis currently 105% of par. Whiof the following is correct?A.The bons nominrate is 8%.B.The bons tenor is five years.C.The bons remption value is 105% of par. A is correct.The nominrate is bons coupon rate. The coupon rate of this bonis 8%, so its nominrate is 8%. The bonis issuetwo years ago anha maturity of five years. The remaining time until bons maturity is three years, therefore the tenor is three years. 105% of pis the bons current price, whiis equto 105% of pvalue. The remption value is the amount ththe issuer agrees to repthe bonolrs on the maturity te. This amount is also calleprincipamount, principvalue, pvalue, favalue, nominvalue, or maturity value.考点Basic Features of a Bon析A中的nominrate就是指债券的coupon rate。题干中说coupon rate是8%，故A正确。B中的tenor指的是还剩下的距离到期的年限，由于债券两年前发行，总期限是五年，那么距离到期还剩三年，所以这道题中的tenor是3 years，故B不正确。C中的remption value就是pvalue，即面值。题干中说105% of par指的是当前的价格，而不是债券面值，故C不正确。 老师请问c为什么是不对的？

2022-12-17 17:23 1 · 回答

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2022-10-14 08:06 1 · 回答

NO.PZ2018062006000001 强化班上面老师没有说过norminalrate=couponrate，也没有说过parvalue=remptionvalue。。。。

2021-02-09 14:36 1 · 回答

老师，nominrate 在哪个视频讲了的？ 我记得飞雪方程式 nominrate = rerate + expecteinflation rate，和这里的nominrate / coupon rate有啥关系呢？

2020-11-24 16:47 1 · 回答