Defi, Cryptocurrency, Bonds, Convexity, Finance.
issue price is the price at which the bond issuer originally sells the bonds. For example, a bond could have a face value of $1000, meaning that at maturity, the bond will be worth $1000. The coupon rate could be 5%, meaning that repayments will be 5% of the $1000, ie. $50 per year. The coupon