Question
In 2011, OSU became the first public university to issue a century bond (with 100 years to maturity). For relevant information, refer to the Wall
In 2011, OSU became the first public university to issue a century bond (with 100 years to maturity). For relevant information, refer to the Wall Street Journal article (http://online.wsj.com/news/articles/SB10001424052970203752604576641693067078706).
(a) Get the information on the OSUs century bond from FINRA (http://finra-markets.morningstar.com/BondCenter/BondDetail.jsp?ticker= M9911285253977&symbol=) Based on the Last Trade Yield, confirm that the Last Trade Price is the clean price.
(b) Given the issuance details of this bond (offering date, offering price, etc), calculate the modified duration when this bond was issued.
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