几个概念:coupon rate, yield, and interest rate

INTEREST RATE – The annual rate, expressed as a percentage of principal, payable for use of borrowed money. 

COUPON RATE – The annual rate of interest payable on a security expressed as a percentage of the principal amount.  The coupon rate, sometimes referred to as the “nominal interest rate,” does not take into account any discount (or premium) in the purchase price of the security.

CURRENT YIELD – The ratio of the annual dollar amount of interest paid on a security to the purchase price or market price of the security, stated as a percentage.  For example, a $1,000 bond purchased at par with a 5% coupon pays $50 per year, or a current yield of 5%.  The same bond, if purchased at a discount price of $800, would have a current yield of 6.25%.  A $1,000 bond purchased at a premium price of $1,200 would have a current yield of 4.17%.


Here are some advanced concepts and formulas about them:

http://www.investopedia.com/university/advancedbond/advancedbond3.asp
评论列表
mlzy 2010-05-24 13:15:12
回复上面的朋友,你在给我发邮件之前,可以这样自己想一下:Coupon rate 是关于principal amount的,而yield是关于实际成本的。
游客 2010-05-23 00:00:08
大师!偶要交作业所以想请教你,coupon rate 和 yield to maturity 之间的关系!如果Coupon rate > YTM, then bond trades at premium, and vice versa. 买家是收 coupon payment 还是principle x yield to maturity 的钱呢??帮帮忙,拜托了!
mlzy 2010-05-24 13:10:25
回复
好久不弄这个了。。。我得好好想一想哦~~~ 你把作业发我邮箱里头让我看看。mlzy@live.com
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游客 2010-05-22 23:51:23
大师!coupon rate 是劵息的话
david 2008-09-15 19:37:14
still confused....[emot]shuai[/emot]
mlzy 2008-09-16 08:23:17
回复
coupon就是每个月的分红比例
yield的就是买卖的时候打折数
interest就是利息
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