Fixed Coupon Bond
Contract Data Model
Property | ACTUS | Option |
---|---|---|
Type | \([CT]\) | \([PAM]\) |
ID | \([CID]\) | D-ASA App ID |
Denomination | \([CUR]\) | ASA |
Settlement | \([CURS]\) | ASA |
Interest | \([IPNR]\) | Fixed |
Principal Discount | \([PDIED]\) | - |
Time Schedule | \([EVT]\) | Events (Fixed) |
Early Repayment Options | \([PPEF]\) | \([N]\) |
Early Repayment Penalty | \([PYTP]\) | - |
Day-Count Convention | \([IPCD]\) | \([AA]\) or Continuous |
Calendar | \([CLDR]\) | \([NC]\) |
Business Day Convention | \([BDC]\) | - |
End of Month Convention | \([EOMC]\) | - |
Performance | \([PRF]\) | Manual Default (Trustee) |
Grace Period | \([GRP]\) | No |
Delinquency Period | \([DQP]\) | No |
Contract Events
Event | ACTUS | Option |
---|---|---|
Coupon Payments | \([IP]\) | Yes (Fixed) |
Known Rate Updates | \([RR]\) | - |
Unknown Rate Updates | \([RRF]\) | - |
Maturity Date | \([MD]\) | Yes (Fixed) |
Principal Repayment | \([PR]\) | At Maturity |
Early Repayment | \([PP]\) | - |
Contract Execution
Execution | Option |
---|---|
Primary Distribution | Direct placement |
Primary Market | Placed at nominal value |
Transfer Agent | Trustless |
Payment Agent | Trustless, On-chain |
Secondary Market | Yes |
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).
AVM fees (ALGO) for the execution of the cash flows are paid by who triggers the cash flow.
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.
Performance
No grace period. No delinquency period. Default called manually by the trustee.