Fixed Coupon Bond
| Property | Option |
|---|---|
| Denomination | On-chain (ASA) |
| Principal repayment | At maturity |
| Early repayment options | No |
| Interest | Fixed |
| Coupons | Yes (Fixed) |
| Time Schedule | Fixed (Events) |
| Day-Count Convention | Actual/Actual, Continuous |
| Primary Distribution | Direct placement |
| Primary Market | Placed at nominal value |
| Transfer Agent | Trustless |
| Payment Agent | Trustless |
| Secondary Market | Yes |
| Default | Manual (Trustee) |
Payment Agent
Payments are trustless (i.e., can be triggered by anyone), as long as payments' conditions are met (e.g., the payment is due).
A coupon payment cannot be executed until all the previous due coupons (if any) have been paid to all the investors.
Transfer Agent
D-ASA units cannot be transferred until all the pending due coupon payments for the sender and receiver (if any) have been executed.
Default
Called manually by the trustee.