Series 53: 4.2.2.2.3. NIC And TIC

Taken from our Series 53 Online Guide

4.2.2.2.3. NIC and TIC

The issuer will request that potential underwriters submit their bids in one of two forms:

Net interest cost (NIC) is an expression of the total cost to the issuer in current dollars. This includes the cost of all interest payments until the bonds are retired.

True interest cost (TIC) incorporates the time value o

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