California Investment-Grade Bond Optional Redemption (without a Par Call) refers to a type of bond issued by the state of California with an investment-grade credit rating. This bond allows the issuer, the state of California, to redeem or call back the bond before its maturity date, but without the requirement of paying a par call. In California, there are a few types of investment-grade bond optional redemptions, including: 1. California General Obligation Bonds: These are bonds issued by the state of California to finance various public works projects, such as infrastructure development, education, and healthcare. The optional redemption feature allows the state to redeem the bonds prior to their maturity date if desired, without incurring a par call. 2. California Municipal Bonds: Municipal bonds are issued by local governments within California to finance local projects and investments. Investment-grade municipal bonds allow optional redemption without a par call, providing flexibility for the issuer, such as cities and counties, to manage their debt obligations. 3. California Revenue Bonds: Revenue bonds are backed by specific revenue streams, like toll fees, utility payments, or lease payments. They are issued by various entities in California, including transportation authorities, water districts, or public utilities. Investment-grade revenue bonds may also offer optional redemption without a par call to the issuer. In summary, California Investment-Grade Bond Optional Redemption (without a Par Call) refers to a range of bonds issued by the state of California, local governments, and other entities with investment-grade credit ratings. These bonds provide the issuer with the option to redeem them before maturity without incurring a par call, offering flexibility in managing debt obligations and potentially providing benefits to investors.
California Investment - Grade Bond Optional Redemption (without a Par Call)
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A bond redemption is the full repayment of the principal amount (the amount you invested) and any interest owed to date.
The redemption definition for mutual funds means the investor is selling some or all of their funds for cash, and their redemption options can be unit-based, amount-based, or redeem all. Redemptions are calculated based on the number of units that an investor holds, by the net asset value prevailing for that day.
Optional Redemption On or after the Par Call Date, the Company may redeem the notes, in whole or in part, at any time and from time to time, at a redemption price equal to 100% of the principal amount of the notes being redeemed plus accrued and unpaid interest thereon to the redemption date.
Redemption Amount i. The amount required to pay off (redeem) the property in full, which is the sum of all prior year taxes, penalties, interest, costs, and fees at the point in time that the payment plan is begun.
Redemption value is the price at which the issuing company may choose to repurchase a security before its maturity date. A bond is purchased "at a discount" if its redemption value exceeds its purchase price. It is purchased "at a premium" if its purchase price exceeds its redemption value.
The bond valuation formula is presented here: Price = ( Coupon × 1 ? ( 1 + r ) ? n r ) + Par Value ( 1 + r ) n , where: Coupon is the cash flow received for each intermediate payment before the par value.
The redemption value is stated as a percentage of face value. For example, a $1000 bond redeemable at 105 is redeemed at 105% of $1000 = $1050. Bonds can be freely bought and sold.
The bond issuer also agrees to repay you the original sum loaned at the bond's maturity date. This is the date on which the principal amount of a bond ? also known as the ?par value? ? is to be paid in full.