Series 52: 4.4.1.4. Listing Of Bond Offerings

Taken from our Series 52 Top Off Online Guide

4.4.1.4.  Listing of Bond Offerings

Most municipals are quoted and traded on a yield to maturity (YTM) basis. This type of quote is called a basis quote.

Some long-maturity revenue bonds are quoted and traded like corporate bonds as a percentage of par. These are known as dollar bonds. Dollar bonds are usually large-issue term securities, rather than serial issues, and they are traded fairly actively. Occasionally, bonds will be quoted on both a yield to maturity and a dollar basis.

Basis Quote and Dollar Quote

Face Value

Issuer

Coupon Rate

Maturity

Call Date*

Yield to Maturity

Dollar Quote

*Bond is callable in 2024

A municipal bond quote, when you can find one, includes the following information:

  • Number of bonds offered
  • Name of the issuer
  • Coupon rate
  • Maturity date
  • Yield basis
  • Dealer’s concession
  • Call provisions (if

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