Determine which of the following statements best describes Yankee bonds.

1. Yankee bonds are debt securities issued into the US capital market by a foreign issuer.
2. Yankee bonds are debt securities with an investment-grade credit rating of less than BB
3. Yankee bonds do not fall within US legislative and regulatory requirements.
4. Yankee bonds provide investors with fixed equal, periodic coupon payments in addition to a repayment of the face value at maturity.

Euro medium-term notes (euro-MTNs) are unsecured notes that have developed to meet the particular needs of borrowers and investors. Which of the following is not correct?

1. Euro-MTNs are typically bearer securities with annual coupons.
2. A single MTN facility may include a range of note maturities, denominations and currencies.
3. In common with bond issues, all the notes are issued at the same time.
4. Dealers who act as agents for the issuer also promote a secondary market by quoting two-way prices.