At interest.co.nz we are always looking for ways to improve the information available to help you make financial decisions.
Two recent enhancements to the indicative bond pricing page have been:
1) the inclusion of spark line charts (mini charts) which track the daily indicative bond yield for the respective securities; and
2) the addition of an indicative pricing column.
Greater detail can be found on both the issuer and the issue by clicking on the entries in the table which are hyperlinked.
The charts are designed to give you a sense of where bond yields have been trading at over the recent past and where interest rates may be heading.
The inclusion of the indicative pricing is providing you with a sense of how much you may receive if you were to sell your bonds on the market. The pricing is based on industry standard price/$100 of face value held and includes an element of capital and accrued interest.
If for example you held $10,000 face value of a bond currently trading at a price of $102.86 then you would expect to receive $10,286.00 before any deductions for brokerage are made.
Because the pricing will change from time to time, and you may trade your bonds through a different broker or market participant the prices and / or yields quoted on our website are strictly indicative only. Brokerage will also need to be deducted from the sales proceeds.
The pricing is based on industry standard price/$100 of face value held and includes an element of capital and accrued interest.
Accrued interest is the amount of interest that has been accrued since the last coupon (interest payment) was made and is calculated daily.
Pricing and yields are sourced from a selection of market participants which may include NZX, Direct Broking, Forsyth Barr, Craigs Investment Partners and the major banks.
Not every security will be priced every day and therefore the pricing or yield will reflect the last available data.
Click on this link to get access to our indicative bond pricing page.