3.This is to say, for every S$100 of face value, the bond is currently selling for S$100.50, so that the annual coupon of S$3.50 is worth about 3.4% of the actual price.
4.In Singapore, for example, a govern-ment bond maturing in 2004 with a cou-pon of 3.5% will currently yield about 3.4%.This is to say, for every S$100 of face value, the bond is currently selling for S$100.50, so that the annual coupon ofS$3.50 is worth about 3.4% of the actual price.
