medium · Debt Capital Markets
A high-yield bond with a 7.000% coupon has an NC3 call structure. After the 3-year non-call period, the premium steps down annually.
If the Year 4 call price is 103.500, what is the most likely call price for Year 5?
- 102.500
- 103.000
- 101.750
- 100.000
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