{"id":7646,"date":"2010-02-09T12:33:26","date_gmt":"2010-02-09T17:33:26","guid":{"rendered":"http:\/\/www.thedisciplinedinvestor.com\/blog\/?p=7646"},"modified":"2016-09-20T06:13:15","modified_gmt":"2016-09-20T10:13:15","slug":"a-great-bond-deal-you-will-never-get-guess-the-issuer","status":"publish","type":"post","link":"https:\/\/thedisciplinedinvestor.com\/blog\/2010\/02\/09\/a-great-bond-deal-you-will-never-get-guess-the-issuer\/","title":{"rendered":"A Great Bond Deal You Will NEVER Get &#8211; Guess the Issuer!"},"content":{"rendered":"<p>So this crosses my desk the other day. It is going to benefit someone&#8230;. But who? It appears that the one who will benefit will be the seller as there is a step rate and it is callable anytime after issue.<\/p>\n<p>More importantly, notice that the teaser is for<!--more--> the 7% that no one will ever receive as the probability is high that it will be called well before it pays that rate.<\/p>\n<p>Goldman Sachs Note Step-ups 8.5nc6mos  8\/24\/18<br \/>\nCusip 38143UGG0 \u00a0 \u00a0 \u00a0 \u00a0 Rating: A1\/A<\/p>\n<ul>\n<li> 4.00% for 4.5yrs (2\/24\/10 &#8211; 8\/24\/14)<\/li>\n<li>5.00% for 2.0yrs (8\/24\/14 &#8211; 8\/24\/16)                 IRR @ Par = 4.82%<\/li>\n<li>7.00% for 2.0yrs (8\/24\/16 &#8211; 8\/24\/18)<\/li>\n<\/ul>\n<p>Settles  2\/24\/10 Qtly Pay \u00a0 \u00a0 \u00a0 * \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 Call 8\/24\/10 Qtly Call \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 *No Deathput*<\/p>\n<p style=\"text-align: center;\"><a href=\"https:\/\/thedisciplinedinvestor.com\/blog\/wp-content\/uploads\/2010\/02\/Goldman-1.png\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-7779 aligncenter\" title=\"Goldman\" src=\"https:\/\/thedisciplinedinvestor.com\/blog\/wp-content\/uploads\/2010\/02\/Goldman-1.png\" alt=\"\" width=\"616\" height=\"457\" \/><\/a><\/p>\n<p style=\"text-align: center;\">\n<p style=\"text-align: center;\">___<\/p>\n<p style=\"text-align: center;\">Disclosure: <a title=\"Horowitz &amp; Company\" href=\"http:\/\/www.horowitzandcompany.com\">Horowitz &amp; Company<\/a> clients may hold positions of securities mentioned as of the date published.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>So this crosses my desk the other day. It is going to benefit someone&#8230;. But who? It appears that the one who will benefit will be the seller as there is a step rate and it is callable anytime after issue. More importantly, notice that the teaser is for<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[5,12],"tags":[483,13],"class_list":["post-7646","post","type-post","status-publish","format-standard","hentry","category-economy","category-markets","tag-markets","tag-rants","et-doesnt-have-format-content","et_post_format-et-post-format-standard"],"acf":[],"_links":{"self":[{"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/posts\/7646","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/comments?post=7646"}],"version-history":[{"count":0,"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/posts\/7646\/revisions"}],"wp:attachment":[{"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/media?parent=7646"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/categories?post=7646"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/tags?post=7646"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}