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The bid rose to 76percentt of par value yesterday.
But it sold for nearly 75 percent of par value as recently as February.
The notes due in 2001 had traded on Monday at 62.5percentt of par value, said one trader.
That can be particularly bad for investors if they are holding a security that is trading at, say, 105percentt of par value and receive only 100percentt of par value when the loan is prepaid.
The 2000 notes, which had been bid at 75percentt of par value on Monday, rose to a bid of 82percentt yesterday.
Investors seem unwilling to pay more than 94-95% of par value for the $14 billion of loans in the package.
Similar(41)
Hence, the distribution of PAR values will not exactly match the analytic result from (5) but higher PAR values will occur.
Mathematically, we could express this as two formulae: m(1,728) – (1+.08)(B)=928 and m(1,200) – (1+.08)(B)=400, where m is the proportion of plant value and B is the number of par-value million-dollar bonds.
Thus, stockholders under certain statutes have a personal liability making them individually responsible for the debts of the corporation to the extent of the par value of their stock or some other specified limit.
That the Commercial National Bank of Ogden, Utah, is a corporation organized and existing under and by virtue of the laws of the United States; that said corporation is doing a banking business in Ogden City, Weber county, state of Utah; that the capital stock of said bank is $100,000, divided into 1,000 shares of the par value of $100.00 per share.
Upon the death of William H. Campbell, his executors, for the purpose of paying the annuity bequeathed by him to his sister, set apart the aforesaid United States bonds, of the par value of $13,000, and kept them intact during the life of the annuitant.
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