### Explain the basic characteristics of bonds

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Although all bonds have some common characteristics, they do not always have the same contractual features. For example, most corporate bonds have provisions for early repayment (call features), but these provisions can be quite different for different bonds. Explain the basic characteristics of bonds:

a) Par value

b) Coupon interest rate

c) Maturity date

d) Provisions to call or redeem bonds

e) Sinking funds

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