开发者:上海品职教育科技有限公司 隐私政策详情

应用版本:4.2.11(IOS)|3.2.5(安卓)APP下载

l_hhh · 2022年02月01日

maturity需要一致吗?

NO.PZ2019011002000013

问题如下:

ABC is a French wealth management company. It invested $10 million in Corporation D’s 10-year senior unsecured bond. Being afraid that company D would default, ABC purchased a $10 million CDS on company D with a standardized coupon rate of 5%.

3 months later, company D files for bankruptcy, triggering various CDS contracts. ABC wealth company assesses the credit quality of the corporate bond they invested and the value of the CDS on the bond.

The following is the relevant information on Corporation D’s bonds currently trading in the market:

Bond 1: A 5-year senior unsecured bond trading at 40% of par.

Bond 2: A 10-year senior unsecured bond trading at 50% of par

Bond 3: A 6-year subordinated unsecured bond trading at 30% of par.

According to the information above, what is the cheapest-to-deliver obligation for a senior CDS contract?

选项:

A.

30%

B.

40%

C.

50%

解释:

B is correct.

考点:CDS cheapest-to-deliver的理解

解析:

从Senior债券里面找Cheapest-to-deliver,Bond 1符合条件。注意,尽管Bond 3的价格更低,但是他是Subordinated,不在Senior CDS的保护范围里。

不需要考虑maturity一致吗?为啥不选B呢

l_hhh · 2022年02月01日

说错了,为啥不选c 呢

1 个答案

pzqa015 · 2022年02月02日

嗨,从没放弃的小努力你好:


C是subordinate bond,与A、B的偿付顺序不一样,CTD要在所有senior级别债券里面找,不需要考虑债券的剩余到期日

----------------------------------------------
努力的时光都是限量版,加油!

  • 1

    回答
  • 0

    关注
  • 410

    浏览
相关问题

NO.PZ2019011002000013 问题如下 Ais a Frenwealth management company. It investe$10 million in Corporation s 10-yesenior unsecurebon Being afraithcompany woulfault, Apurchasea $10 million C on company with a stanrzecoupon rate of 5%. 3 months later, company files for bankruptcy, triggering various C contracts. Awealth company assesses the cret quality of the corporate bonthey investeanthe value of the C on the bon The following is the relevant information on Corporation s bon currently trang in the market: Bon1: A 5-yesenior unsecurebontrang 40% of par. Bon2: A 10-yesenior unsecurebontrang 50% of p Bon3: A 6-yesubornateunsecurebontrang 30% of par. Accorng to the information above, whis the cheapest-to-liver obligation for a senior C contract? 30% 40% 50% B is correct.考点C cheapest-to-liver的理解解析从Senior债券里面找Cheapest-to-liver,Bon1符合条件。注意,尽管Bon3的价格更低,但是他是Subornate不在Senior C的保护范围里。 这里问的obligation 感觉应该是60%

2024-07-27 20:44 1 · 回答

NO.PZ2019011002000013 问题如下 Ais a Frenwealth management company. It investe$10 million in Corporation s 10-yesenior unsecurebon Being afraithcompany woulfault, Apurchasea $10 million C on company with a stanrzecoupon rate of 5%. 3 months later, company files for bankruptcy, triggering various C contracts. Awealth company assesses the cret quality of the corporate bonthey investeanthe value of the C on the bon The following is the relevant information on Corporation s bon currently trang in the market: Bon1: A 5-yesenior unsecurebontrang 40% of par. Bon2: A 10-yesenior unsecurebontrang 50% of p Bon3: A 6-yesubornateunsecurebontrang 30% of par. Accorng to the information above, whis the cheapest-to-liver obligation for a senior C contract? 30% 40% 50% B is correct.考点C cheapest-to-liver的理解解析从Senior债券里面找Cheapest-to-liver,Bon1符合条件。注意,尽管Bon3的价格更低,但是他是Subornate不在Senior C的保护范围里。 这题是看1-30% 1-40% 1-50%吗,然后因为C不在senor里只看A和B,然后A是60% B是50%, A怎么就更便宜了呀。

2024-04-10 01:29 1 · 回答

NO.PZ2019011002000013 问题如下 Ais a Frenwealth management company. It investe$10 million in Corporation s 10-yesenior unsecurebon Being afraithcompany woulfault, Apurchasea $10 million C on company with a stanrzecoupon rate of 5%. 3 months later, company files for bankruptcy, triggering various C contracts. Awealth company assesses the cret quality of the corporate bonthey investeanthe value of the C on the bon The following is the relevant information on Corporation s bon currently trang in the market: Bon1: A 5-yesenior unsecurebontrang 40% of par. Bon2: A 10-yesenior unsecurebontrang 50% of p Bon3: A 6-yesubornateunsecurebontrang 30% of par. Accorng to the information above, whis the cheapest-to-liver obligation for a senior C contract? 30% 40% 50% B is correct.考点C cheapest-to-liver的理解解析从Senior债券里面找Cheapest-to-liver,Bon1符合条件。注意,尽管Bon3的价格更低,但是他是Subornate不在Senior C的保护范围里。 请问题干只在最后的问题处提了a senior C contract,如果改为a C contract选哪个答案?

2024-02-25 21:18 1 · 回答

NO.PZ2019011002000013 问题如下 Ais a Frenwealth management company. It investe$10 million in Corporation s 10-yesenior unsecurebon Being afraithcompany woulfault, Apurchasea $10 million C on company with a stanrzecoupon rate of 5%. 3 months later, company files for bankruptcy, triggering various C contracts. Awealth company assesses the cret quality of the corporate bonthey investeanthe value of the C on the bon The following is the relevant information on Corporation s bon currently trang in the market: Bon1: A 5-yesenior unsecurebontrang 40% of par. Bon2: A 10-yesenior unsecurebontrang 50% of p Bon3: A 6-yesubornateunsecurebontrang 30% of par. Accorng to the information above, whis the cheapest-to-liver obligation for a senior C contract? 30% 40% 50% B is correct.考点C cheapest-to-liver的理解解析从Senior债券里面找Cheapest-to-liver,Bon1符合条件。注意,尽管Bon3的价格更低,但是他是Subornate不在Senior C的保护范围里。 题目中提到“It investe$10 million in Corporation s 10-yesenior unsecurebon,B对应的是10-yesenior unsecurebon为什么选择5-yesenior unsecurebon应的rate?

2023-04-30 18:01 1 · 回答

NO.PZ2019011002000013 问题如下 Ais a Frenwealth management company. It investe$10 million in Corporation s 10-yesenior unsecurebon Being afraithcompany woulfault, Apurchasea $10 million C on company with a stanrzecoupon rate of 5%. 3 months later, company files for bankruptcy, triggering various C contracts. Awealth company assesses the cret quality of the corporate bonthey investeanthe value of the C on the bon The following is the relevant information on Corporation s bon currently trang in the market: Bon1: A 5-yesenior unsecurebontrang 40% of par. Bon2: A 10-yesenior unsecurebontrang 50% of p Bon3: A 6-yesubornateunsecurebontrang 30% of par. Accorng to the information above, whis the cheapest-to-liver obligation for a senior C contract? 30% 40% 50% B is correct.考点C cheapest-to-liver的理解解析从Senior债券里面找Cheapest-to-liver,Bon1符合条件。注意,尽管Bon3的价格更低,但是他是Subornate不在Senior C的保护范围里。 问的是CTobligation,不应该是1-40%=60%么?

2022-09-18 20:45 1 · 回答