price YTM coupon Maturity(yr) Face value

102.5 0.73% 3.25% 1 100 3.25

-102.5 103.25

1.74% 5.25% 2 100 5.25

5.25 105.25
₹106.84

107.02 2.06% 4.50% 3 100 4.5

-107.02 4.50 4.5 104.5

1.74% 5.25% 2 100 5.25

5.25 105.25
₹106.84
 NTT
1A-1 Debenture issue
Issue date 12/20/1994
Due date 12/20/2004
Debenture value 1 billion yen
Debenture period 10 years Entire amount would be paid at maturity
Coupon rate 4.75% paid annually
Face value 100 yen
Issued vallue 100 yen Priced at par
Rating AAA

Interest 4.75

1994 1995 1996 1997

Cashflows -100 4.75 4.75 4.75

Yield to maturity 4.75%

1A-2 NTT
Debenture issue
Issue date 12/20/1994
Due date 12/20/2004
Debenture value 1 billion yen
Debenture period 10 years Entire amount would be paid at maturity
Coupon rate 4.75% paid annually
Face value 100 yen
Issued vallue 99 yen Priced at par
Rating AAA

Interest 4.75

1994 1995 1996 1997

Cashflows -99 4.75 4.75 4.75

Yield to maturity 4.88%

4.88%
1A-3 NTT
 Debenture issue
Issue date 12/20/1994
Due date 12/20/2004
Debenture value 1 billion yen
Debenture period 10 years Entire amount would be paid at maturity
Coupon rate 4.75% paid annually
Face value 100 yen
Issued vallue 101 yen Priced at par
Rating AAA

Interest 4.75

1994 1995 1996 1997

Cashflows -101 4.75 4.75 4.75

Yield to maturity 4.62%

1B NTT
Debenture issue
Issue date 12/20/1994
Due date 12/20/2004
Debenture value 1 billion yen
Debenture period 10 years Entire amount would be paid at maturity
Coupon rate 4.75% paid annually
Face value 100 yen
Issued vallue 100 yen Priced at par
Rating AAA
Yield 3%
Balance matutiry period 8

Interest 4.75

1994 1995 1996 1997

Cashflows -100 4.75 4.75 4.75

₹112.28
would be paid at maturity

1998 1999 2000 2001 2002 2003 2004

4.75 4.75 4.75 4.75 4.75 4.75 104.75

would be paid at maturity

1998 1999 2000 2001 2002 2003 2004

4.75 4.75 4.75 4.75 4.75 4.75 104.75
would be paid at maturity

1998 1999 2000 2001 2002 2003 2004

4.75 4.75 4.75 4.75 4.75 4.75 104.75

would be paid at maturity

1998 1999 2000 2001 2002 2003 2004

4.75 4.75 4.75 4.75 4.75 4.75 104.75
 1 2 3 4
25000 25000 25000 25000

Interest rate 9%

₹228,213.64

rate 9%
T 20
Pmt 25000
value of loan (₹228,213.64)

begn. Loan amount interest payment principal repaid

1 ₹228,213.64 ₹20,539.23 25000 ₹4,460.77
2 ₹223,752.87 ₹20,137.76 25000 ₹4,862.24
3 ₹218,890.63 ₹19,700.16 25000 ₹5,299.84
4 ₹213,590.78 ₹19,223.17 25000 ₹5,776.83
5 ₹207,813.95 ₹18,703.26 25000 ₹6,296.74
6 ₹201,517.21 ₹18,136.55 25000 ₹6,863.45
7 ₹194,653.76 ₹17,518.84 25000 ₹7,481.16
8 ₹187,172.60 ₹16,845.53 25000 ₹8,154.47
9 ₹179,018.13 ₹16,111.63 25000 ₹8,888.37
10 ₹170,129.76 ₹15,311.68 25000 ₹9,688.32
11 ₹160,441.44 ₹14,439.73 25000 ₹10,560.27
12 ₹149,881.17 ₹13,489.31 25000 ₹11,510.69
13 ₹138,370.48 ₹12,453.34 25000 ₹12,546.66
14 ₹125,823.82 ₹11,324.14 25000 ₹13,675.86
15 ₹112,147.96 ₹10,093.32 25000 ₹14,906.68
16 ₹97,241.28 ₹8,751.72 25000 ₹16,248.28
17 ₹80,993.00 ₹7,289.37 25000 ₹17,710.63
18 ₹63,282.37 ₹5,695.41 25000 ₹19,304.59
19 ₹43,977.78 ₹3,958.00 25000 ₹21,042.00
20 ₹22,935.78 ₹2,064.22 25000 ₹22,935.78
132
133
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136
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151
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236
237
238
239
240
241
242
243
244
245
246
247
248
 5 6 7 8 9 10
25000 25000 25000 25000 25000 25000

principal remaining begn. Loan amount interest

₹223,752.87 1 ₹273,301.84 ₹24,597.17
₹218,890.63 2 ₹272,899.01 ₹24,560.91
₹213,590.78 3 ₹272,459.92 ₹24,521.39
₹207,813.95 4 ₹271,981.31 ₹24,478.32
₹201,517.21 5 ₹271,459.63 ₹24,431.37
₹194,653.76 6 ₹270,890.99 ₹24,380.19
₹187,172.60 7 ₹265,271.18 ₹23,874.41
₹179,018.13 8 ₹259,145.59 ₹23,323.10
₹170,129.76 9 ₹252,468.69 ₹22,722.18
₹160,441.44 10 ₹245,190.87 ₹22,067.18
₹149,881.17 11 ₹237,258.05 ₹21,353.22
₹138,370.48 12 ₹223,611.28 ₹20,125.01
₹125,823.82 13 ₹208,736.29 ₹18,786.27
₹112,147.96 14 ₹192,522.56 ₹17,327.03
₹97,241.28 15 ₹174,849.59 ₹15,736.46
₹80,993.00 16 ₹155,586.05 ₹14,002.74
₹63,282.37 17 ₹129,588.80 ₹11,662.99
₹43,977.78 18 ₹101,251.79 ₹9,112.66
₹22,935.78 19 ₹70,364.45 ₹6,332.80
₹0.00 20 ₹36,697.25 ₹3,302.75
 11 12 13 14 15 16 17
25000 25000 25000 25000 25000 25000 25000

payment principal repaprincipal remaining

25000 ₹402.83 ₹272,899.01
25000 ₹439.09 ₹272,459.92
25000 ₹478.61 ₹271,981.31
25000 ₹521.68 ₹271,459.63
25000 ₹568.63 ₹270,890.99
30000 ₹5,619.81 ₹265,271.18
30000 ₹6,125.59 ₹259,145.59
30000 ₹6,676.90 ₹252,468.69
30000 ₹7,277.82 ₹245,190.87
30000 ₹7,932.82 ₹237,258.05
35000 ₹13,646.78 ₹223,611.28
35000 ₹14,874.99 ₹208,736.29
35000 ₹16,213.73 ₹192,522.56
35000 ₹17,672.97 ₹174,849.59
35000 ₹19,263.54 ₹155,586.05
40000 ₹25,997.26 ₹129,588.80
40000 ₹28,337.01 ₹101,251.79
40000 ₹30,887.34 ₹70,364.45
40000 ₹33,667.20 ₹36,697.25
40000 ₹36,697.25 (₹0.00)

₹273,301.84
 18 19 20
25000 25000 25000
Face value 50 tax 35%
Time 30
Frequency half yearly
yield 5.65%
Y/2 0.02825
IRB bond coupon
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