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Introduction to Bonds and Bond Characteristics definitions

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  • Bonds Payable
    Liabilities representing amounts owed to multiple creditors, typically used to raise large sums by issuing debt securities to the public.
  • Notes Payable
    Liabilities involving a single lender, such as a bank, where funds are borrowed under a formal agreement.
  • Term Bonds
    Debt instruments with a single maturity date, requiring repayment of the entire principal in one lump sum at the end.
  • Serial Bonds
    Debt instruments with multiple maturity dates, allowing principal repayment in installments over time.
  • Secured Bonds
    Debt securities backed by specific collateral, reducing risk for creditors by providing claim to assets if default occurs.
  • Debenture Bonds
    Unsecured debt instruments relying solely on the issuer's creditworthiness, carrying higher risk due to lack of collateral.
  • Callable Bonds
    Debt securities that can be redeemed by the issuer before maturity, often at a premium above face value.
  • Convertible Bonds
    Debt instruments featuring a clause allowing holders to exchange them for shares of the issuing company's common stock.
  • Stated Rate
    Interest percentage specified by the issuer, determining the cash interest paid to bondholders; also called coupon rate.
  • Market Rate
    Prevailing interest percentage for similar bonds in the market, influencing the bond's selling price.
  • Face Value
    Principal amount stated on a bond, representing the sum to be repaid to holders at maturity.
  • Discount
    Situation where a bond sells below its face value, typically due to a stated rate lower than the market rate.
  • Premium
    Situation where a bond sells above its face value, usually because the stated rate exceeds the market rate.
  • Coupon Rate
    Alternative term for the stated rate, indicating the annual interest percentage paid to bondholders.
  • Maturity Date
    Specified date when the principal amount of a bond becomes due and is repaid to the bondholder.