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Bond Definition
Loan
What happens?
A company issues bonds when it needs to borrow money for a project. People buy the bond, and the company pays it back to them over time with interest.
Issuer
Company
Investor
You
Why are bonds reliable?
The company must pay back their loans.
Face value
The initial amount of the loan.
Coupon rate
The annual interest rate.
Maturity date
The date at which the face value is returned and the bond gets closed.
Will stocks or bonds make more over time?
Stocks, because of compound interest.
Corporate Bonds
A bond issued by a company. (Not the government).
Municipal bond
Issued by state/local govts.
Agency bonds
A bond still issued by the federal government, just not the treasury.
US Treasury Bonds
Issued by the U.S. treasury.
Bond rating
How reliable a company is. AAA is the best, the letters go down from there, meaning the rating also goes down.
Investment grade bonds
AAA to BBB-
High yield/junk bonds
BB+ to D