To promote long-term savings, Hazine issues 2-year BIST30 Index Subordinated Bonds (BIST30SB). These pay no interest but at maturity the investor receives the face value plus a possible bonus, where the bonus is equal to X TL times the proportionate appreciation in the market index (If the index is lower at maturity, the investor receives only the face value). What would be the value of BIST30SB if issued today? If Hazine wished to hedge itself against a rise in the market index, how should it do so? To promote long-term savings, Hazine issues 2-year BIST30 Index Subordinated Bonds (BIST30SB). These pay no interest but at maturity the investor receives the face value plus a possible bonus, where the bonus is equal to X TL times the proportionate appreciation in the market index (If the index is lower at maturity, the investor receives only the face value). What would be the value of BIST30SB if issued today? If Hazine wished to hedge itself against a rise in the market index, how should it do so