Fixed Income

Issuer, maturity (tenor), par/face value, coupon rate and frequency, and currency denomination.

Par value is the principal the issuer repays at maturity; prices are quoted as a percentage of par (e.g., 98.5 means 98.5% of face value).

Tenor (term to maturity) is the remaining time until the bond's maturity date, when the principal is repaid; original maturity is the term at issuance.

The legal contract between issuer and bondholders specifying the bond's terms, covenants, and the issuer's obligations.

Affirmative covenants require the issuer to DO things (pay interest, maintain assets); negative (restrictive) covenants PROHIBIT actions (limit additional debt, asset sales, dividends).