Which of the following is not correct concerning bonds?

O A debenture bond is backed by an asset that the bond holder can repossess if the debt is not paid.

O A bond's YTM is the return an investor earns if they reinvest all coupon payments at the expected return and hold till maturity.

O A bond's coupon is usually a fixed percentage of the par value.

O A bond's coupon is usually paid semi-annually.