6.2.1.3.2. Securities Issue Information
The written confirmation must also note specific information about the security that has been purchased or sold, such as:
• Name of the issuer
• CUSIP number
• Maturity date
• Interest rate, if any
• Dated date
For municipal fund securities, of course, no interest rate is required. For securities with a variable interest rate, the confirmation must note that it is variable.
For revenue bonds, the primary source of revenue must be noted. For bonds with additional credit backing, the name of the creditor other than the issuer must be noted. Other special features must be recognized on the confirmation, such as whether the security:
• Has call or put features
• Is subject to federal taxation or to the alternative minimum tax
• Is in default or not rated by a registered rating agency
• Is advance refunded
Zero coupon bonds. The confirmation for zero coupon securities must indicate a 0% interest rate and state that no periodic interest payments will be made. It follows that accrued interest is not calculated or included on the confirmation. However, the confirmation must show the maturity value of the securities if it differs from par value.
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