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HP 17Bii, 17Bii+, and 19Bii Calculators - Bond Calculations

Overview
This applications note includes two sections:
  • Section 1: Lists some of the bonds available in the United States that can be solved with the HP 17bii, 17bii+, and 19bii calculators' BOND menu.
  • Section 2: Lists bonds that cannot be solved using the BOND menu.
     note:
    Neither of these two sections is all-inclusive.
Bonds that can be solved on the HP 17bii, 17bii+, and 19bii
This section is divided into two groups: 30/360 bonds and actual/actual bonds. The information found in these two sections is necessary in deciding which calendar to use in the BOND menu.
30/360 bonds, semi-annual coupon payments
The following section contains information on 30/360 bonds, semi-annual coupon payments (this list is not all-inclusive).
State/ municipal/local government
The following is a list of state, municipal, and local government bonds that can be solved by the HP 17bii and 19bii business calculators.
  • Zero coupon bonds
  • Tax supported bonds
  • Revenue bonds
  • Revenue supported bonds
  • Assessment supported bonds
  • Special supported bonds
Corporate bonds
A common convention in calculating price and yield of corporate bonds in the United States is that if the coupon percent equals the yield percent, then the price of the bond is set to 100, whether the settlement date is a coupon date or not. In this convention, if the price is 100, the yield is set to the coupon rate. The BOND menu does not use this convention.
Certificates of deposit with periodic interest, InterAmerican Development Bank Bonds, International Bank for Reconstruction and Development (World Bank) bonds, and Federal agency instruments
The HP 17bii, 17bii+, and 19bii business calculators will solve the following certificates of deposit with periodic interest, InterAmerican Development Bank Bonds, International Bank for Reconstruction and Development (World Bank) bonds, and federal agency instruments.
  • Commodity Credit Corporation (CCC) bonds
  • Export Import Bank Participation (Exlm) certificates
  • Federal Home Loan Bank (FHLB) bonds and notes
  • Federal Intermediate Credit Bank (FICB) debentures if coupon interest is paid periodically
  • Federal Land Bank (FLB) bonds
  • Federal National Mortgage Association (FNMA) debentures
  • General National Mortgage Association (GNMA) bonds and participation certificates
  • New Communities Act debentures
  • US Postal Service bonds
  • Tennessee Valley Authority (TVA) bonds
  • Merchant Marine bonds
Actual/Actual, semi-annual coupon payments, US treasury bonds and notes, and federal agency issues
The following is a list of actual/actual, semi-annual coupon payments, US treasury bonds and notes and federal agency issues that can be solved with the HP 17bii, 17bii+, and 19bii business calculators.
  • Farmers Home Administration (FHDA) insured notes
  • Federal Housing Administration (FHA) debentures
Bonds that cannot be solved on the HP 17bii, 17bii+, and 19bii
This section lists bonds that cannot be solved with the HP 17bii, 17bii+, and 19bii BOND menu (this list is not all inclusive).
Interest at maturity notes
Interest at maturity notes include the following:
  • Commercial paper tax supported notes or warrants
  • Revenue supported notes or warrants
  • Repurchase agreements (REPO's)
  • Banks for Cooperatives (Coops) debentures
  • Federal Intermediate Credit Bank (FICB) debentures, if interest at maturity
Discounted notes
Discounted notes include:
  • Bankers acceptances
  • US Treasury Bills
  • US Tax Anticipation Bills (TABS)
  • Commercial Treasury Certificates of indebtedness
  • Federal National Mortgage Association (FNMA) short-term notes
  • Tennessee Valley Authority (TVA) notes
Other bonds and notes
Other bonds and notes that cannot be solved with the HP 17bii, 17bii+, and 19bii BOND menu are as follows:
  • Issued dated bonds (if the issue date is not a coupon date anniversary)
  • Stepped coupon bonds
  • Federal Funds (Fed Funds) Callable bonds (if the call date is not a coupon date anniversary)
  • Many non-US bonds and notes

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