If you are looking for a discounted bond, look at SLM
Corporation
Ednotes 6.05% of 12/15/2026. The CUSIP of this bond is
78490FZV4. It pays $60.50 per year
in interest, paying $30.25 on
June 15th and Dec. 15th.
It sells for approx. $997.45 per bond and
gives $1,000 at maturity. The bond at this price gives a Yield to Maturity
of 6.0859% and a
current yield of 6.0655%. That means that this bond
investment will double in 12.5 years.
This bond has a Moody’s Rating of Ba1 and a Standard and
Poor’s
Rating of BBB-. BBB- is the lowest Rating in the investment grade
area.
on Rt. 11/15 in Enola, Pa.
What is SLM Corporation?
Sallie Mae
(NASDAQ: SLM) is the nation's No. 1 financial services
company specializing in
education. Celebrating 40 years of making a
difference, Sallie Mae continues to
turn education dreams into reality
for American families, today serving 25
million customers. With
products and services that include 529 college savings
plans, Upromise
rewards, scholarship search and planning tools, education
loans,
insurance, and online banking, Sallie Mae offers solutions that help
families save, plan, and pay for college.
The
company helps families save for college through 529 college
savings plans,
through its high-yield savings accounts and CDs,
and through its Upromise
savings program. The company offers
innovative private student loans that help
customers save money
and offer shorter repayment terms. In addition, Sallie Mae
offers
planning tools and resources to assist students, parents, and guidance
professionals with the financial aid process.
The
company and its subsidiaries manage or service $234 billion in
education loans
and administer $38 billion in 529 college savings plans.
Members of its
Upromise college savings rewards program have
earned $625 million to help pay
for college. Sallie Mae also provides
financial services to hundreds of college
campuses as well as to federal
and state governments.
Sallie Mae
is listed on the Fortune 500 and is one of the Top Innovators
in IT according
to Information Week. The company also has been recognized
as one of the 100 Best
Corporate Citizens according to Business Ethics
magazine and one of the top 30
companies for executive women by the National
Association of Female Executives.
While
Sallie Mae was originally created in 1972 as a government-sponsored
entity, the
company began privatizing its operations in 1997, a process it
completed at the
end of 2004 when the company terminated its ties to the
federal government.
Today, the company is a publicly held, private sector
company, governed by a
board elected by shareholders. SLM Corporation
and its subsidiaries, commonly known as Sallie Mae, are not sponsored by
or agencies of the United States of
America.
SLM Corporation from time to time issues medium term notes
under its
medium term note program.Our medium term notes are described in
three documents: a
pricing supplement, a prospectus supplement,
and a prospectus.
The prospectus supplement and prospectus are usually printed
together
and contain general information aboutSLM medium term notes
including
the possible interest rates, maturity dates, trading information, and
other
details.
The terms of each particular issuance of our medium term
notes are set
forth in a pricing supplement forthose notes. Pricing supplements contain
the amount,
maturity date, interest rate, interest payment dates,principal
repayment dates, and CUSIP numbers for those
notes.
Occasionally SLM issue a Preliminary pricing supplement for
new offerings
of SLM medium term notes.
The senior
notes issued by SLM Corporation, are described in their
combined Offering Documents/Prospectus
Supplements.
No comments:
Post a Comment