Price Ratio Specification
Definition
Price Ratio Specification. The specification of a price in terms of some ratio to the face value of the item, expressed as a percentage. Security price per Hundred.
This is the default in debt pricing: debt instruments are commonly priced in percentage terms, the price being the percentage of the face value of the security. Debt prices that are specified and distributed in other ways, can be calculated back to this specification. Effectively the numerator asset is today’s Currency and the denominator Asset is future Currency (face Value).
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