Pricing Matrix
12/01/2006
Unfortunately, dealers have different offering practices. Thankfully, yield to maturity lets you measure everyone on the same ruler.
To compare our high value offers to other dealers please compare our net yield to maturity with theirs on the same or very similar bonds. Our offering screens show the actual inter-dealer prices. To get your net investment yield please subtract the basis points shown in the boxes on the left from what you see on our offering screens.
To get to a close approximation of your net order price, multiply the number of bonds by the dollar value in the matrix below. Take that sum and add it to the net price you see on the Bond Order Screen.
You may speak with an experienced bond trader and your price will be the same! Just call 800 454-1628, ext. 1 between 9AM and 6PM ET, weekdays.
Approximate Value of Mark Ups/Downs in Dollars per $1000 Bond
(rounded to the nearest $1.00)
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Yield to Maturity on the Inter-Dealer Market Offering |
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Maturity
Years |
4%3 |
5% |
6% |
7% |
8%2 |
1 to 4 years
20 basis points in YTM
i.e., for bonds offered at 5.80% you earn 5.60% |
1 |
2.00 |
2.00 |
2.00 |
2.00 |
2.00 |
2 |
4.00 |
4.00 |
4.00 |
4.00 |
4.00 |
3 |
6.00 |
6.00 |
5.00 |
5.00 |
5.00 |
4 |
7.00 |
7.00 |
7.00 |
7.00 |
7.00 |
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|
|
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4 to 8 years
15 basis points in YTM
i.e., for bonds offered at 5.80% you earn 5.65% |
5 |
7.00 |
7.00 |
6.00 |
6.00 |
6.00 |
6 |
7.00 |
7.00 |
7.00 |
7.00 |
6.00 |
7 |
9.00 |
9.00 |
9.00 |
8.00 |
8.00 |
8 |
10.00 |
10.00 |
9.00 |
9.00 |
9.00 |
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8 years and longer
10 basis points in YTM
i.e., for bonds offered at 5.80% you earn 5.70%
(Exception: for bonds capped at 1.2%, you can earn as much as 5.73% on a 5.8% offer.)
|
9 |
8.00 |
7.00 |
7.00 |
7.00 |
6.00 |
10 |
9.00 |
8.00 |
8.00 |
7.00 |
7.00 |
11 |
9.00 |
9.00 |
8.00 |
8.00 |
7.00 |
12 |
10.00 |
9.00 |
9.00 |
8.00 |
8.00 |
13 |
10.00 |
10.00 |
9.00 |
9.00 |
8.00 |
14 |
11.00 |
10.00 |
9.00 |
9.00 |
8.00 |
15 |
11.00 |
11.00 |
10.00 |
9.00 |
9.00 |
16 |
12.00 |
11.00 |
11.00 |
10.00 |
9.00 |
17 |
12.001 |
11.00 |
11.00 |
11.00 |
10.00 |
18 |
12.001 |
12.00 |
11.00 |
10.00 |
10.00 |
19 |
12.001 |
12.001 |
11.00 |
10.00 |
10.00 |
20 |
12.001 |
12.001 |
12.00 |
11.00 |
11.00 |
25 |
12.001 |
12.001 |
12.001 |
12.00 |
12.00 |
30 |
12.001 |
12.001 |
12.001 |
12.001 |
12.00 |
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Minimum Charge: $55.00 |
Special Adjustments:
- All charges capped at 1.20% of Principal Amount.
- Coupons Higher than 8.0% will receive the 8.0% rate.
- Coupons less than 4.0% will receive the 4.0% rate.
- 50 Bonds and higher on a Single Order will Receive 15% Discount and 1.0% Maximum Fee.
- 50 Bonds and higher on Multiple Same Day Orders will receive a 10% Discount and a 1.10% Maximum Fee.
- Institutional pricing available for amounts greater than 200 bonds in a single day.
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