Quotes

A bond can have a maturity (or par value) of any amount
For quick comparison, bond prices are quoted as a percentage of par value.


A bond selling at par is quoted as 100
A bond selling at a discount will be quoted at less than 100
A bond selling at a premium will be quoted at more than 100


PriceQuoteDecimal %
959595/100 = 0.95
95.595-1695/100 + 0.5%
95.2595-895/100 + 0.25%
95.12595-495/100 + 0.125%
95.062595-295/100 + 0.0625%
95.0312595-195/100 + 0.03125%



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