Fixed Income Investments (Stuart R. Veale, 2013)

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Bullet loan: fixed loan neither issuer or investor can alter life of the loan
Put option loan: investor has the right to shorten the life of the loan
Call option loan: issuer has the right to shorten the loan
Sinking boan: issuer periodically pay off a portion of the principal instead of paying it off all at once at maturity
Subordinated debt: debentures: bonds without escrowed collateral
Income bond: if not interest = no management rise or bonuses, no stock buybacks or dividends, no acquisitions
Interest yield can be calculated between present value (PV) and future value (FV)
Zero coupon curve, zero curve, non parallel yield curve, time-weighted cash flows, time-discount future cash flow
Floating rate notes (FRN): interest periodically resets to the prevailing market rate
Modified duration: measures the price sensitivity of a bond when there is a change in the yield to maturity
Macaulay duration: calculates the weighted average time before a bondholder would receive the bond’s cash flow

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