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Strategies & Market Trends : India Coffee House -- Ignore unavailable to you. Want to Upgrade?

To: Nandu who wrote (2138)	8/3/1998 7:27:00 PM
From: Mohan Marette	Respond to of 12475

It's no game Anil: The interest rate is 7.75% for USD not 7.25% as indicated in your post. The present value of $1000 will accumulate a future value of $1462.55 at 7.75% nominal interest, compounding 2 periods(s) per year for 5 year(s). As you can see the effective annual yield will be 9.25% if one holds the bond until maturity. As you know the issuer of the bond is State Bank of India and Citibank is only a collecting agent,if you are interested you can contact SBI directly and obtain the bond from them,here is there site. sbi.co.in