Question
Consider the following $1,000 face value bond which makes semi-annual coupon payments, Bond CIBC Coupon rate 8.5% Price 99.51 Maturity December 1, 2030 Settlement Date
Consider the following $1,000 face value bond which makes semi-annual coupon payments,
| Bond | CIBC |
| Coupon rate | 8.5% |
| Price | 99.51 |
| Maturity | December 1, 2030 |
| Settlement Date | January 23, 2019 |
What is the total price you would pay for this bond? Enter your answer rounded to two decimal places.
Please explain the relation between the maturity date and the settlement date as well.
Thank You
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Performance Measurement In Finance
Authors: John Knight, Stephen Satchell, Nathalie Farah
1st Edition
0750650265, 978-0750650267
