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A bond with 15 years remaining until maturity is currently trading for 96 per 100 of par value. The bond has a coupon rate of
A bond with 15 years remaining until maturity is currently trading for 96 per 100 of par value. The bond has a coupon rate of 8% and makes semiannual coupon payments. The bond offers the following embedded options:
-Putable after 5 years at 96
-Callable after 10 years at 105
-Callable after 11 years at 103
-Callable on coupon dates after year 12 at par
The bond's yield to third call is ______%.
Include two decimal places in your answer and do not include the percent symbol. For example, if the yield is 95.25% then answer 95.25, not .95, not 95.25%.
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