1.4 Contingency Provisions: Callable Bonds and Putable Bonds. 债券的或有条款: 可赎回与可卖回债券。 我为什么要学习这门课? 随着我国经济发展取得的长足进步,以及高层领导对于债券市场发展的高度重视,我国的债券市场一定会继续快速发展,逐渐成熟健全,同时
As a result, when yield volatility increases (thus increasing the option value), the value of a callable bond decreases and the value of a putable bond increases. A call option does benefit the issuer, but a put option benefits the holder....
and LINETSKY, V. (2012). Evaluating callable and putable bonds: An eigenfunction expansion approach. J. Econom. Dynam. Control 36 1888-1908. MR2982959Lim, D., L. Li, and V. Linetsky (2012): Evaluating Callable and Putable Bonds: An Eigenfunction Expansion Approach. Journal of Economic ...
Putablebonds(可回售债券)：Givesthebondholderstherighttosellthebondbacktotheissueratapre-determinedprice...
这种债券允许发行人根据一组预先设定的赎回价格(Callable Price)来赎回债券,可 是这些期权不可以独立交易.可回售债券(Putable Bonds)也是如此,这种债券允许投资者 根据一组预先设定的回售价格(Putable Price)来回售债券.我们先分析由可赎回债券与普通债券的关系,然后稍加调整即可直接应用到可回售债券 上.(一)可赎回...
Abondthat may beredeemedbeforematurity. Callability allows the bond to be called at the discretion of theissuerwithin certain limits. When the bond is called, thebondholderreceives thepar value(or sometimes a bit more) and does not receive any morecoupons. Callable bonds are issued to allow th...
A callable bond, a putable bond, and an option-free bond have the same coupon, maturity and rating. The call price and put price are 98 and 102 respectively. The option-free bond trades at par. Which of the following lists correctly orders the values of the three bonds from lowest to ...
callable 英['kɔ:ləbl] 美['kɔ:ləbəl]adj. 可随时支取的，请求即付的，随时可偿还的;[例句]In this background, China began its histories of callable bonds and putable bonds in2002 and2001 respectively.在这种背景下，分别于2002年和2001年，中...
callable bond的价值上升以及久期上升都是由利率上升导致的。首先，callable bond价值上升是比较好理解的，...
A callable bond, a putable bond, and an option-free bond have the same coupon, maturity and rating. The call price and put price are 98 and 102 respectively. The option-free bond trades at par. Which of the following lists correctly orders the values of the three bonds from lowest to ...