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UGBA 133 Lecture 4 Bond Basics

UGBA 133 Lecture 4 Bond Basics - LECTURE 4BONDS...

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LECTURE 4—BONDS INTRODUCTION…CHAPTER 14 NOTES/COMMENTS UGBA 133-1,2 SUMMER, 2004 This lecture will be very brief because almost every topic in Chapt. 14 has already been discussed by your text or by me in previous chapters/lectures. Focus Points—fair game for the midterm: Terminology: par, discount, premium in bond pricing, yield to maturity current yield coupon rate yield to first call bid—ask spread, over the counter procedures market makers (dealers), how do they function? Quality Spreads Call and put provisions, who benefits, who loses, how do they work? Convertible Bonds, how do they work, what is a conversion ratio? Subordination Clause Collateral, Mortgage vs. Debenture Bonds Sinking Funds Skim International Bonds, pp. 420-422—Interesting, but time constraints Omit Realized Compound Yield vs. Yield to Maturity, pp. 429-430. Omit after tax returns, p. 434. Skim Altman discussion of prediction of bankruptcy (p. 438)—not tested on this, but it may be useful to know how he got to those ratios.
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