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Option-embedded Bonds
Israel Nelken
其他書名
Price Analysis, Credit Risk and Investment Strategies
出版Irwin Professional Pub., 1997
主題Business & Economics / Accounting / GeneralBusiness & Economics / Investments & Securities / GeneralBusiness & Economics / Investments & Securities / Bonds
ISBN07863081849780786308187
URLhttp://books.google.com.hk/books?id=AHwrAQAAMAAJ&hl=&source=gbs_api
註釋Interest rate volatility has spawned a huge increase in the issuances of option-embedded bonds. Comprising a variety of structures including: callable bonds, structured notes and convertible securities, option-embedded bonds confer benefits to both borrowers and investors. For borrowers, these products usually provide protection against interest rate risk. For investors, they typically provide higher yields than conventional bonds. Unfortunately, due to the complexity of their structures, option-embedded bonds are often difficult to value. This volume describes how to analyze and value these instruments as well as investment strategies to maximize returns.