Fixed Coupon Bond

Contract Data Model

PropertyACTUSOption
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

EventACTUSOption
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

ExecutionOption
Primary DistributionDirect placement
Primary MarketPlaced at nominal value
Transfer AgentTrustless
Payment AgentTrustless, On-chain
Secondary MarketYes

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.