What is the price of the following bond?
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4.5% in the first year of issue, increasing by 0.25% each year to 5.75% in the final year. All coupons paid annually |
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Issue date: |
2 March 2009 |
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Maturity date: |
2 March 2015 |
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Settlement date: |
10 November 2009 |
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Yield: |
5.24% |
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Price/yield calculation basis: |
30/360 (annual) |
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Accrued interest calculation basis: |
30/360 |
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