NISM Series XIII Common Derivatives Certification Exam Notes
Page 208 Of 303
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Deferred Coupon Bonds: No interest initially, high interest later, suitable for long gestation projects.
Deep Discount Bonds: ZCBs issued at a significant discount, typically for long-term projects.
Embedded Options: Call (issuer redeems early) or put (investor redeems early) options affect bond pricing.
Straight Bonds: Fixed coupon, no embedded options, also called plain vanilla bonds.
Callable Bonds: Issuer can redeem before maturity, often at a premium when rates fall.
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